Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2022
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES            
Net Income Attributable to Common Shareowners $ 6,938 $ 14,198 $ 23,803 $ 33,412 $ 33,396 $ 31,576
Adjustments to Reconcile Net Income to Cash From Operating Activities:            
Provision for Credit Losses 32 1,724 3,878 7,494 (1,553) 9,645
Depreciation 1,907 3,802 5,689 7,596 7,607 7,230
Amortization of Premiums, Discounts, and Fees, net 2,610 5,053 6,618 7,772 14,072 7,533
Amortization of Intangible Assets 40 80 120 160 107 0
Pension Settlement Charges 209 378 480 2,321 3,072 0
Originations of Loans Held for Sale (242,253) (549,018) (772,089) (996,312) (1,541,356) (606,337)
Proceeds From Sales of Loans Held-for-Sale 252,584 585,476 813,267 1,033,844 1,655,288 565,151
Mortgage Banking Revenues       (11,909) (52,425) (63,344)
Net Decrease for Capitalized Mortgage Servicing Rights 364 360 570 726 72 (2,792)
Change in Valuation Provision for Mortgage Servicing Rights       0 (250) 250
Stock Compensation 245 489 904 1,630 843 892
Net Tax Benefit from Stock Compensation (19) (19) (19) (27) (4) (84)
Deferred Income Taxes (6,682) (9,887) (12,854) (3,870) (4,157) (53)
Net Change in Operating Leases (27) (72) (83) (108) (165) (156)
Net Gain (Loss) on Sales and Write-Downs of Other Real Estate Owned 0 (26) (136) (422) (1,662) (393)
Net (Increase) Decrease in Other Assets 1,897 3,516 3,696 (8,636) 10,885 (38,353)
Net Increase (Decrease) in Other Liabilities 7,036 22,040 12,839 8,837 (7,846) 40,624
Net Cash Provided By (Used In) Operating Activities 20,826 69,182 74,876 82,508 115,924 (48,611)
Securities Held to Maturity:            
Purchases (194,448) (218,548) (219,865) (219,865) (251,525) (32,250)
Payments, Maturities, and Calls 14,441 28,111 40,096 55,314 78,544 99,251
Securities Available for Sale:            
Purchases (25,139) (37,044) (41,880) (52,238) (523,961) (108,728)
Proceeds from the Sale of Securities 3,365 3,365 3,365 3,365 495 0
Payments, Maturities, and Calls 24,824 47,413 64,301 81,596 178,425 186,499
Purchases of Loans Held for Investment (26,713) (174,779) (329,481) (438,415) (114,913) (43,804)
Net (Increase) Decrease in Loans (31,260) (130,913) (113,116) (184,349) 183,249 (130,020)
Net Cash Paid for Acquisition       0 (4,482) (2,405)
Proceeds From Sales of Other Real Estate Owned 0 30 1,683 2,406 4,502 2,835
Purchases of Premises and Equipment, net (1,013) (3,322) (4,013) (6,322) (5,193) (9,738)
Noncontrolling Interest Contributions 1,838 2,573 2,867 2,867 7,139 5,766
Net Cash Used In Investing Activities (234,105) (483,114) (596,043) (755,641) (447,720) (32,594)
CASH FLOWS FROM FINANCING ACTIVITIES            
Net Increase in Deposits 52,645 73,396 46,516 226,455 495,302 572,106
Net Increase (Decrease) in Short-Term Borrowings (3,692) 4,784 17,592 22,114 (45,938) 73,156
Repayment of Long-Term Borrowings (78) (150) (200) (249) (1,332) (3,363)
Dividends Paid (2,712) (5,424) (8,307) (11,191) (10,459) (9,567)
Payments to Repurchase Common Stock       0 0 (2,042)
Issuance of Common Stock Under Compensation Plans (190) (496) (577) 1,300 1,028 1,041
Net Cash Provided By Financing Activities 46,353 73,102 56,178 238,429 438,601 631,331
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (166,926) (340,830) (464,989) (434,704) 106,805 550,126
Cash at Beginning of Year 1,035,354 1,035,354 1,035,354 1,035,354 928,549 378,423
Cash at End of Year 868,428 694,524 570,365 600,650 1,035,354 928,549
Supplemental Cash Flow Disclosures:            
Interest Paid 715 1,617 3,588 6,586 3,547 4,841
Income Taxes Paid 20 3,765 6,410 7,466 16,339 9,171
Noncash Investing and Financing Activities:            
Loans and Premises Transferred to Other Real Estate Owned $ 0 $ 77 $ 1,543 $ 2,398 $ 1,717 $ 2,297