Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income Attributable to Common Shareowners $ 12,557 $ 13,709
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:    
Provision for Credit Losses 920 3,099
Depreciation 2,051 1,969
Amortization of Premiums, Discounts and Fees, net 953 1,067
Amortization of Intangible Asset 53 40
Originations of Loans Held-for-Sale (105,717) (75,626)
Proceeds From Sales of Loans Held-for-Sale 106,941 73,706
Mortgage Banking Revenues (2,878) (2,871)
Net Additions for Capitalized Mortgage Servicing Rights (88) (91)
Stock Compensation 392 536
Net Tax Benefit from Stock-Based Compensation (5) 0
Deferred Income Taxes (Benefit) (1,799) (1,170)
Net Change in Operating Leases 166 (3)
Net Gain on Sales and Write-Downs of Other Real Estate Owned 0 (1,858)
Net Decrease (Increase) in Other Assets 2,598 (4,349)
Net (Decrease) Increase in Other Liabilities (1,497) 12,471
Net Cash Provided By Operating Activities 14,647 20,629
Securities Held to Maturity:    
Purchases (1,277) 0
Proceeds from Payments, Maturities, and Calls 22,827 8,820
Securities Available for Sale:    
Purchases (1,100) (2,017)
Proceeds from Payments, Maturities, and Calls 10,012 16,559
Equity Securities:    
Net Decrease in Equity Securities 5 0
Purchases of Loans Held for Investment (302) (923)
Proceeds from Sales of Loans 13,116 20,084
Net Increase in Loans Held for Investment (6,830) (127,336)
Proceeds From Sales of Other Real Estate Owned 0 2,699
Purchases of Premises and Equipment (2,237) (1,886)
Net Cash Used In Investing Activities 34,214 (84,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net Decrease in Deposits (47,021) (115,397)
Net Decrease in Short-Term Borrowings (3,455) (30,161)
Repayment of Other Long-Term Borrowings (50) (50)
Dividends Paid (3,555) (3,064)
Payments to Repurchase Common Stock (2,330) (819)
Proceeds from Issuance of Common Stock Under Purchase Plans 172 164
Net Cash (Used In) Provided by Financing Activities (56,239) (149,327)
NET DECREASE IN CASH AND CASH EQUIVALENTS (7,378) (212,698)
Cash and Cash Equivalents at Beginning of Period 312,067 600,650
Cash and Cash Equivalents at End of Period 304,689 387,952
Supplemental Cash Flow Disclosures:    
Interest Paid 7,875 3,723
Income Taxes Paid 0 7,466
Supplemental Noncash Items:    
Loans Transferred to Other Real Estate Owned 0 423
Loans Transferred from Held for Investment to Held-for-Sale, net $ 7,956 $ 16,859