Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income Attributable to Common Shareowners $ 40,539,000 $ 23,803,000
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:    
Provision for Credit Losses 7,689,000 3,878,000
Depreciation 5,920,000 5,689,000
Amortization of Premiums, Discounts and Fees, net 3,216,000 6,618,000
Amortization of Intangible Asset 120,000 120,000
Pension Plan Settlement (Gain) Charge (291,000) 480,000
Originations of Loans Held-for-Sale (222,575,000) (772,089,000)
Proceeds From Sales of Loans Held-for-Sale 223,543,000 813,267,000
Mortgage Banking Revenues (8,072,000) (11,807,000)
Net Additions for Capitalized Mortgage Servicing Rights (392,000) 570,000
Stock Compensation 1,110,000 904,000
Net Tax Benefit from Stock-Based Compensation 0 (19,000)
Deferred Income Taxes (2,464,000) (12,854,000)
Net Change in Operating Leases (12,000) (83,000)
Net Gain on Sales and Write-Downs of Other Real Estate Owned (1,915,000) (136,000)
Net Decrease in Other Assets 8,207,000 3,696,000
Net Increase in Other Liabilities 1,069,000 12,839,000
Net Cash Provided By Operating Activities 55,692,000 74,876,000
Securities Held to Maturity:    
Purchases 0 (219,865,000)
Proceeds from Payments, Maturities, and Calls 28,159,000 40,096,000
Securities Available for Sale:    
Purchases (9,399,000) (41,880,000)
Proceeds from Sale of Securities 30,420,000 3,365,000
Proceeds from Payments, Maturities, and Calls 53,045,000 64,301,000
Purchases of Loans Held for Investment (295,360,000) (329,481,000)
Net Decrease (Increase) in Loans Held for Investment 132,105,000 (113,116,000)
Proceeds From Sales of Other Real Estate Owned 3,840,000 1,683,000
Purchases of Premises and Equipment (5,459,000) (4,013,000)
Noncontrolling Interest Contributions 0 2,867,000
Net Cash Used In Investing Activities (62,649,000) (596,043,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (Decrease) Increase in Deposits (398,872,000) 46,516,000
Net (Decrease) Increase in Short-Term Borrowings (15,097,000) 17,592,000
Repayment of Other Long-Term Borrowings (149,000) (200,000)
Dividends Paid (9,518,000) (8,307,000)
Payments to Repurchase Common Stock (3,121,000) 0
Proceeds from Issuance of Common Stock Under Purchase Plans 562,000 577,000
Net Cash (Used In) Provided by Financing Activities (426,195,000) 56,178,000
NET DECREASE IN CASH AND CASH EQUIVALENTS (433,152,000) (464,989,000)
Cash and Cash Equivalents at Beginning of Period 600,650,000 1,035,354,000
Cash and Cash Equivalents at End of Period 167,498,000 570,365,000
Supplemental Cash Flow Disclosures:    
Interest Paid 15,026,000 3,588,000
Income Taxes Paid 7,395,000 6,410,000
Noncash Investing and Financing Activities:    
Loans Transferred to Other Real Estate Owned $ 1,495,000 $ 1,543,000