XML 27 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
          Net Income Available to Common Shareholders $ 114,365,000 $ 102,071,000 $ 88,080,000
Adjustments to reconcile net income to net cash provided by operating activities:      
     Amortization and (accretion), net 6,165,000 10,451,000 8,782,000
     Provision for (recovery of) credit losses 3,243,000 474,000 (3,165,000)
     Depreciation of premises and equipment 4,556,000 5,325,000 5,831,000
     Deferred income tax expense (benefit) (2,764,000) 1,469,000 2,185,000
     Net periodic employee benefit cost (52,000) 256,000 569,000
Pension contributions 0 0 (1,000,000)
     Unrealized and realized securities losses (gains) 4,476,000 1,581,000 (816,000)
     Stock-based compensation expense 3,213,000 3,276,000 3,121,000
Excess tax benefit from stock-compensation expense 228,000 (292,000) (579,000)
     Increase in value of bank-owned life insurance (6,037,000) (5,559,000) (3,895,000)
      Loans originated for sale (11,159,000) (31,150,000) (42,420,000)
  Proceeds from the sale of loans originated for sale 11,306,000 31,475,000 42,769,000
Gain on sale of loans (147,000) (325,000) (349,000)
     Change in accrued interest receivable (1,136,000) (2,660,000) 166,000
     Change in other assets 14,526,000 (20,643,000) (8,737,000)
     Change in other liabilities (3,203,000) 20,068,000 11,731,000
          Net Cash Provided by Operating Activities 137,580,000 115,817,000 102,273,000
Investing Activities      
Net (increase) decrease in loans (223,785,000) (102,991,000) 76,992,000
Purchases 93,681,000 519,262,000 560,689,000
Proceeds from sales 205,627,000 0 0
Proceeds from maturities and calls 119,090,000 210,912,000 291,562,000
Purchases (8,029,000) (302,000) (154,000)
Proceeds from sales 536,000 449,000 4,813,000
Proceeds from maturities and calls 780,000 0 0
Purchases of premises and equipment (2,962,000) (2,141,000) (3,323,000)
Proceeds from the disposals of premises and equipment 283,000 190,000 367,000
Proceeds from the disposition of assets held-for-sale 0 0 0
Proceeds from bank-owned life insurance policies 10,856,000 6,045,000 2,156,000
Payments for low income housing tax credits (8,051,000) (3,352,000) (2,891,000)
Acquisition of Citizens Commerce Bancshares, Inc. 14,016,000 0 0
          Net Cash Used in Investing Activities 14,680,000 (410,452,000) (191,167,000)
Financing Activities      
Net (decrease) increase in noninterest-bearing deposits (68,906,000) (21,710,000) 196,135,000
Net (decrease) increase in interest-bearing deposits (165,414,000) (33,677,000) 77,178,000
Net increase (decrease) in short-term borrowings 37,392,000 (21,494,000) 16,502,000
Proceeds from long-term debt 100,000,000 0 0
Purchases of treasury stock (60,134,000) (26,449,000) (58,678,000)
Proceeds from exercise of stock options 0 798,000 691,000
Other financing activities 1,071,000 (762,000) (824,000)
Dividends paid (39,993,000) (36,702,000) (36,138,000)
Net Cash (Used) Provided by Financing Activities (195,984,000) (139,996,000) 194,866,000
         (Decrease) Increase in Cash and Cash Equivalents (43,724,000) (434,631,000) 105,972,000
Cash and cash equivalents at beginning of period 200,000,000 634,631,000 528,659,000
Cash and Cash Equivalents at End of Period 156,276,000 200,000,000 634,631,000
Supplemental Cash Flow Information [Abstract]      
Interest paid 49,134,000 9,467,000 11,100,000
Income taxes paid 32,813,000 22,434,000 18,495,000
Goodwill 149,902,000 108,941,000 108,941,000
Core deposit intangible 12,666,000 6,793,000 8,179,000
Citizens Commerce Bancshares, Inc.      
Identifiable assets acquired (net of purchase consideration) 319,961,000 0 0
Liabilities assumed 307,617,000 0 0
Goodwill 40,961,000 0 0
Citizens Commerce Bancshares, Inc. | Core Deposits      
Core deposit intangible $ 8,278,000 $ 0 $ 0