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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 88,447,000 $ 86,913,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization, net 5,709,000 6,496,000
Provision for credit losses 1,520,000 3,543,000
Depreciation of premises and equipment 3,153,000 3,452,000
Deferred income tax expense (benefit) 536,000 (1,491,000)
Net periodic employee benefit cost 46,000 39,000
(Losses) gains on sale of investment securities, net 552,000 110,000
Stock-compensation expense 2,683,000 2,407,000
Excess tax expense from stock-compensation (298,000) (203,000)
Increase in value of bank-owned life insurance (3,188,000) (4,819,000)
Loans originated for sale (8,383,000) (9,591,000)
Proceeds from the sale of loans originated for sale 8,452,000 9,713,000
Gain on sale of loans (69,000) (122,000)
Change in accrued interest receivable (1,495,000) (69,000)
Change in other assets 4,914,000 12,068,000
Change in other liabilities (3,935,000) (4,588,000)
Net Cash Provided by Operating Activities 98,136,000 104,044,000
Investing Activities    
Net decrease (increase) in loans (30,911,000) (107,988,000)
Purchases 192,555,000 56,734,000
Proceeds from sales of securities available-for-sale 0 103,249,000
Proceeds from maturities and calls 100,415,000 93,927,000
Purchases (242,000) (5,970,000)
Proceeds from sales 903,000 77,000
Proceeds from maturities and calls 0 747,000
Purchases of premises and equipment (1,750,000) (2,392,000)
Proceeds from the disposals of premises and equipment 92,000 283,000
Proceeds from bank-owned life insurance policies 1,248,000 207,000
Payments for low income housing tax credits (10,378,000) (6,577,000)
Acquisition of Citizens Commerce Bancshares, Inc. 0 14,013,000
Net Cash (Used in) Provided by Investing Activities (133,178,000) 32,842,000
Financing Activities    
Net decrease in non-interest-bearing deposits (3,266,000) (78,236,000)
Net increase (decrease) in interest-bearing deposits 171,753,000 (145,344,000)
Net increase (decrease) in short-term borrowings 4,297,000 (18,793,000)
Proceeds from long-term debt 50,000,000 100,000,000
Purchases of treasury stock (17,896,000) (53,827,000)
Proceeds from exercise of stock options 292,000 0
Lease payments (599,000) (609,000)
Dividends paid (31,866,000) (29,361,000)
Net Cash Provided by (Used in) Financing Activities 172,715,000 (226,170,000)
Increase (decrease) in Cash and Cash Equivalents 137,673,000 (89,284,000)
Cash and cash equivalents at beginning of period 156,276,000 200,000,000
Cash and Cash Equivalents at End of Period 293,949,000 110,716,000
Supplemental Cash Flow Information:    
Cash paid for interest 60,631,000 32,525,000
Cash paid for income taxes 21,740,000 26,162,000
Citizens Commerce Bancshares, Inc.    
Supplemental Cash Flow Information:    
Identifiable assets acquired (net of purchase consideration) 0 319,738,000
Liabilities assumed 0 307,113,000
Goodwill 0 41,175,000
Citizens Commerce Bancshares, Inc. | Core Deposits    
Supplemental Cash Flow Information:    
Core deposit intangible $ 0 $ 8,278,000