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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 29,523,000 $ 24,341,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization, net 1,916,000 2,302,000
(Recovery of ) provision for credit losses (180,000) 2,918,000
Depreciation of premises and equipment 1,072,000 1,210,000
Deferred income tax expense (benefit) 984,000 (654,000)
Net periodic employee benefit cost 15,000 13,000
(Losses) gains on sale of investment securities, net (153,000) 1,134,000
Stock-compensation expense 1,100,000 1,093,000
Excess tax expense from stock-compensation (42,000) (102,000)
Increase in value of bank-owned life insurance (976,000) (804,000)
Loans originated for sale (3,018,000) (2,637,000)
Proceeds from the sale of loans originated for sale 3,035,000 2,689,000
Gain on sale of loans (17,000) (52,000)
Change in accrued interest receivable (1,469,000) 759,000
Change in other assets 1,364,000 3,156,000
Change in other liabilities (1,376,000) 6,599,000
Net Cash Provided by Operating Activities 32,168,000 39,901,000
Investing Activities    
Net decrease in loans 34,018,000 6,108,000
Purchases 49,304,000 0
Proceeds from sales of securities available-for-sale 0 84,940,000
Proceeds from maturities and calls 24,201,000 26,839,000
Purchases (9,000) (189,000)
Proceeds from sales 142,000 249,000
Purchases of premises and equipment (596,000) (616,000)
Proceeds from the disposals of premises and equipment 47,000 0
Proceeds from bank-owned life insurance policies 223,000 206,000
Payments for low income housing tax credits (5,771,000) (1,704,000)
Acquisition of Citizens Commerce Bancshares, Inc. 0 13,518,000
Net Cash Provided by Investing Activities 2,951,000 129,351,000
Financing Activities    
Net increase in non-interest-bearing deposits 16,268,000 9,288,000
Net increase (decrease) in interest-bearing deposits 105,334,000 (41,622,000)
Net (decrease) in short-term borrowings (29,915,000) (4,208,000)
Proceeds from long-term debt 50,000,000 0
Purchases of treasury stock (3,653,000) (20,103,000)
Proceeds from exercise of stock options 58,000 0
Lease payments (202,000) (203,000)
Dividends paid (10,603,000) (9,594,000)
Net Cash Provided by (Used in) Financing Activities 127,287,000 (66,442,000)
Decrease in Cash and Cash Equivalents 162,406,000 102,810,000
Cash and cash equivalents at beginning of period 156,276,000 200,000,000
Cash and Cash Equivalents at End of Period 318,682,000 302,810,000
Supplemental Cash Flow Information:    
Cash paid for interest 17,929,000 7,694,000
Cash paid for income taxes 2,510,000 3,500,000
Citizens Commerce Bancshares, Inc.    
Supplemental Cash Flow Information:    
Identifiable assets acquired (net of purchase consideration) 0 320,453,000
Liabilities assumed 0 (307,104,000)
Goodwill 0 40,451,000
Citizens Commerce Bancshares, Inc. | Core Deposits    
Supplemental Cash Flow Information:    
Core deposit intangible $ 0 $ 8,278,000