Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income Attributable to Common Shareowners $ 39,825,000 $ 40,539,000
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:    
Provision for Credit Losses 3,330,000 7,689,000
Depreciation 5,798,000 5,920,000
Amortization of Premiums, Discounts and Fees, net 3,130,000 3,216,000
Amortization of Intangible Asset 120,000 120,000
Pension Plan Settlement Gain 0 (291,000)
Originations of Loans Held-for-Sale (366,700,000) (308,263,000)
Proceeds From Sales of Loans Held-for-Sale 369,063,000 303,731,000
Mortgage Banking Revenues (11,225,000) (8,072,000)
Net Additions for Capitalized Mortgage Servicing Rights (138,000) (392,000)
Stock Compensation 1,139,000 1,110,000
Deferred Income Taxes (Benefit) 1,400,000 (2,464,000)
Net Change in Operating Leases 208,000 (12,000)
Net Loss (Gain) on Sales and Write-Downs of Other Real Estate Owned 1,000 (1,915,000)
Net Decrease in Other Assets 1,738,000 8,207,000
Net Increase in Other Liabilities 4,645,000 1,069,000
Net Cash Provided By Operating Activities 52,334,000 50,192,000
Securities Held to Maturity:    
Purchases (20,287,000) 0
Proceeds from Payments, Maturities, and Calls 83,657,000 28,159,000
Securities Available for Sale:    
Purchases (49,436,000) (9,399,000)
Proceeds from Sale of Securities 0 30,420,000
Proceeds from Payments, Maturities, and Calls 55,229,000 53,045,000
Equity Securities:    
Net Decrease in Equity Securities 158,000 0
Purchases of Loans Held for Investment (302,000) (2,249,000)
Proceeds from Sales of Loans 31,462,000 39,125,000
Net Decrease (Increase) in Loans Held for Investment 19,779,000 (194,631,000)
Proceeds From Sales of Other Real Estate Owned 33,000 3,840,000
Purchases of Premises and Equipment (6,442,000) (5,459,000)
Net Cash Provided by (Used In) Investing Activities 113,851,000 (57,149,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net Decrease in Deposits (122,745,000) (398,872,000)
Net Increase (Decrease) in Short-Term Borrowings 1,729,000 (15,097,000)
Net Increase (Decrease) in Other Long-Term Borrowings 677,000 (149,000)
Dividends Paid (11,007,000) (9,518,000)
Payments to Repurchase Common Stock (2,330,000) (3,121,000)
Proceeds from Issuance of Common Stock Under Purchase Plans 634,000 562,000
Net Cash Used In by Financing Activities (133,042,000) (426,195,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 33,143,000 (433,152,000)
Cash and Cash Equivalents at Beginning of Period 312,067,000 600,650,000
Cash and Cash Equivalents at End of Period 345,210,000 167,498,000
Supplemental Cash Flow Disclosures:    
Interest Paid 26,143,000 15,026,000
Income Taxes Paid 5,741,000 7,395,000
Noncash Investing Activities:    
Loans and Premises Transferred to Other Real Estate Owned 683,000 1,495,000
Loans Transferred from Held for Investment to Held for Sale, net $ 25,640,000 $ 33,625,000