XML 27 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 85,888 $ 81,825 $ 84,137
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:      
Net Amortization on Securities 5,566 6,452 6,638
Depreciation and Amortization 9,560 10,116 8,770
Loans Originated for Sale (106,781) (162,959) (261,529)
Proceeds from Sales of Loans Held-for-Sale 112,525 171,591 276,417
Provision for Credit Losses 2,550 6,350 (6,500)
Gain on Sale of Loans, net (2,363) (3,818) (8,267)
Gain on Securities, net (40) (562) (2,247)
Loss (Gain) on Sales of Other Real Estate and Repossessed Assets (83) (18) (101)
Loss (Gain) on Disposition and Donation of Premises and Equipment (547) (37) 1,640
Loss (Gain) on Disposition of Land (83) 0 0
Post Retirement Medical Benefit 0 54 0
Increase in Cash Surrender Value of Company Owned Life Insurance (1,842) (1,820) (1,369)
Equity Based Compensation 2,332 2,330 1,724
Change in Assets and Liabilities:      
Interest Receivable and Other Assets 3,725 (1,094) 2,716
Interest Payable and Other Liabilities (3,173) 1,626 (1,185)
Net Cash from Operating Activities 107,234 110,036 100,844
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from Maturity of Other Short-term Investments 0 495 496
Proceeds from Maturities of Securities Available-for-Sale 287,084 143,418 208,156
Proceeds from Sales of Securities Available-for-Sale 114,259 145,237 111,124
Purchase of Securities Available-for-Sale (183,302) (417,940) (1,020,695)
Proceeds from Redemption of Federal Home Loan Bank Stock 350 8,089 120
Purchase of Loans (1,502) (933) 0
Proceeds from Sales of Loans Held for Investment 0 3,916 0
Loans Made to Customers, net of Payments Received (187,624) (107,236) 59,557
Proceeds from Sales of Other Real Estate 108 88 1,423
Property and Equipment Expenditures (5,745) (7,852) (4,686)
Proceeds from Sale of Land and Building 3,627 0 1,963
Proceeds from Life Insurance 0 773 549
Sale of Bank Branches 0 0 1,694
Acquisition of Citizens Union Bancorp of Shelbyville, Inc. 0 207,764 0
Net Cash from Investing Activities 27,255 (24,181) (640,299)
CASH FLOWS FROM FINANCING ACTIVITIES      
Change in Deposits (96,782) (324,771) 655,485
Change in Short-term Borrowings (35,193) 29,817 15,423
Advances in Long-term Debt 25,000 0 0
Repayments of Long-term Debt (132) (41,690) (58,091)
Issuance (Retirement) of Common Stock 0 0 0
Dividends Paid (29,433) (27,022) (22,220)
Net Cash from Financing Activities (136,540) (363,666) 590,597
Net Change in Cash and Cash Equivalents (2,051) (277,811) 51,142
Cash and Cash Equivalents at Beginning of Year 117,381 395,192 344,050
Cash and Cash Equivalents at End of Year 115,330 117,381 395,192
Cash Paid During the Year for      
Interest 60,663 17,442 10,020
Income Taxes 15,375 11,649 14,434
Supplemental Non Cash Disclosures      
Loans Transferred to Other Real Estate 0 30 0
Reclass of Land & Buildings to Other Assets 691 0 0
Interest Rate Swap Fair Value Activity $ (2,282) $ 4,988 $ (4,287)