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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 58,638,000 $ 57,074,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization, net 3,947,000 4,711,000
Provision for credit losses 320,000 3,343,000
Depreciation of premises and equipment 2,114,000 2,349,000
Deferred income tax expense (benefit) 1,446,000 (864,000)
Net periodic employee benefit cost 31,000 26,000
(Losses) gains on sale of investment securities, net 211,000 840,000
Stock-compensation expense 1,807,000 1,726,000
Excess tax expense from stock-compensation (273,000) (203,000)
Increase in value of bank-owned life insurance (1,751,000) (4,012,000)
Loans originated for sale (7,100,000) (6,397,000)
Proceeds from the sale of loans originated for sale 7,148,000 6,499,000
Gain on sale of loans (48,000) (102,000)
Change in accrued interest receivable (1,536,000) 1,181,000
Change in other assets 3,435,000 9,764,000
Change in other liabilities (8,023,000) (7,350,000)
Net Cash Provided by Operating Activities 60,490,000 67,311,000
Investing Activities    
Net decrease (increase) in loans 13,569,000 (23,077,000)
Purchases 192,555,000 21,781,000
Proceeds from sales of securities available-for-sale 0 85,559,000
Proceeds from maturities and calls 57,744,000 63,728,000
Purchases (221,000) (5,950,000)
Proceeds from sales 162,000 66,000
Proceeds from maturities and calls 0 498,000
Purchases of premises and equipment (1,102,000) (1,727,000)
Proceeds from the disposals of premises and equipment 93,000 282,000
Proceeds from bank-owned life insurance policies 223,000 206,000
Payments for low income housing tax credits (8,270,000) (4,144,000)
Acquisition of Citizens Commerce Bancshares, Inc. 0 14,013,000
Net Cash (Used in) Provided by Investing Activities (130,357,000) 107,673,000
Financing Activities    
Net increase (decrease) in non-interest-bearing deposits 11,856,000 (38,604,000)
Net increase (decrease) in interest-bearing deposits 121,246,000 (115,286,000)
Net decrease in short-term borrowings (12,188,000) (25,750,000)
Proceeds from long-term debt 50,000,000 100,000,000
Purchases of treasury stock (17,896,000) (44,056,000)
Proceeds from exercise of stock options 292,000 0
Lease payments (379,000) (405,000)
Dividends paid (21,354,000) (19,602,000)
Net Cash Provided by (Used in) Financing Activities 131,577,000 (143,703,000)
Increase in Cash and Cash Equivalents 61,710,000 31,281,000
Cash and cash equivalents at beginning of period 156,276,000 200,000,000
Cash and Cash Equivalents at End of Period 217,986,000 231,281,000
Supplemental Cash Flow Information:    
Cash paid for interest 38,639,000 18,509,000
Cash paid for income taxes 14,975,000 17,309,000
Citizens Commerce Bancshares, Inc.    
Supplemental Cash Flow Information:    
Identifiable assets acquired (net of purchase consideration) 0 320,453,000
Liabilities assumed 0 (307,111,000)
Goodwill 0 40,458,000
Citizens Commerce Bancshares, Inc. | Core Deposits    
Supplemental Cash Flow Information:    
Core deposit intangible $ 0 $ 8,278,000