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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 83,811 $ 85,888 $ 81,825
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:      
Net Amortization on Securities 2,161 5,566 6,452
Depreciation and Amortization 9,277 9,560 10,116
Loans Originated for Sale (134,521) (106,781) (162,959)
Proceeds from Sales of Loans Held-for-Sale 134,589 112,525 171,591
Provision for Credit Losses 2,775 2,550 6,350
Gain on Sale of Loans, net (3,054) (2,363) (3,818)
Loss (Gain) on Securities, net 34,788 (40) (562)
Gain on Sales of Other Real Estate and Repossessed Assets (37) (83) (18)
Loss (Gain) on Disposition and Donation of Premises and Equipment 11 (547) (37)
Loss (Gain) on Disposition of Land 0 (83) 0
Post Retirement Medical Benefit 0 0 54
Increase in Cash Surrender Value of Company Owned Life Insurance (870) (1,842) (1,820)
Equity Based Compensation 2,947 2,332 2,330
Sale of Assets of German American Insurance (36,507) 0 0
Change in Assets and Liabilities:      
Interest Receivable and Other Assets 1,748 3,725 (1,094)
Interest Payable and Other Liabilities (1,354) (3,173) 1,626
Net Cash from Operating Activities 95,764 107,234 110,036
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from Maturity of Other Short-term Investments 0 0 495
Proceeds from Maturities, Calls and Redemptions of Securities Available-for-Sale 356,471 287,084 143,418
Proceeds from Sales of Securities Available-for-Sale 404,103 114,259 145,237
Purchase of Securities Available-for-Sale (722,304) (183,302) (417,940)
Proceeds from Redemption of Federal Home Loan Bank Stock 264 350 8,089
Purchase of Loans 0 (1,502) (933)
Proceeds from Sales of Loans Held for Investment 0 0 3,916
Loans Made to Customers, net of Payments Received (155,957) (187,624) (107,236)
Proceeds from Sales of Other Real Estate 70 108 88
Property and Equipment Expenditures (5,047) (5,745) (7,852)
Proceeds from Sale of Land and Building 0 3,627 0
Proceeds from Life Insurance 0 0 773
Proceeds from Sale of German American Insurance Assets 40,000 0 0
Acquisition of Citizens Union Bancorp of Shelbyville, Inc. 0 0 207,764
Net Cash from Investing Activities (82,400) 27,255 (24,181)
CASH FLOWS FROM FINANCING ACTIVITIES      
Change in Deposits 76,205 (96,782) (324,771)
Change in Short-term Borrowings (9,105) (35,193) 29,817
Advances in Long-term Debt 75,000 25,000 0
Repayments of Long-term Debt (50,157) (132) (41,690)
Dividends Paid (31,845) (29,433) (27,022)
Net Cash from Financing Activities 60,098 (136,540) (363,666)
Net Change in Cash and Cash Equivalents 73,462 (2,051) (277,811)
Cash and Cash Equivalents at Beginning of Year 115,330 117,381 395,192
Cash and Cash Equivalents at End of Year 188,792 115,330 117,381
Cash Paid During the Year for      
Interest 99,057 60,663 17,442
Income Taxes 17,823 15,375 11,649
Supplemental Non Cash Disclosures      
Loans Transferred to Other Real Estate 0 0 30
Reclass of Land & Buildings to Other Assets 0 691 0
Interest Rate Swap Fair Value Activity $ (992) $ (2,282) $ 4,988