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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net income $ 23,569 $ 12,296  
Adjustments to reconcile income to net cash provided by operating activities:      
Provision for credit losses 3,800 16,500  
Depreciation and amortization on premises and equipment 2,035 1,787  
Amortization of net premium on securities 124 183  
Accretion of net discount on acquired loans (296) (737)  
Net change in deferred loan origination fees and costs 1,317 (168)  
Amortization of core deposits and other intangible assets 628 815  
Amortization of premium on acquired deposits (28) (150)  
Accretion of discount on subordinated debt 91 96  
Amortization of issuance costs on subordinated debt 37 37  
Increase in cash surrender value of bank-owned life insurance (522) (415)  
Impairment of other real estate owned and foreclosed assets 29 24  
Federal Home Loan Bank stock dividends (217) (247)  
Share-based compensation expense 636 492  
Decrease in fair value of mortgage servicing rights 3,984 316  
Net loss on disposal of premises and equipment 125 5  
Net loss (gain) on other real estate owned and foreclosed assets activity (17) 0  
Net gain on sales of loans held-for-sale (1,707) (1,941)  
Origination of loans held-for-sale (255,085) (194,890)  
Proceeds from sales of loans held-for-sale 251,200 200,199  
Changes in operating assets and liabilities:      
Lease right-of-use assets (57) 1  
Accrued interest receivable (1,566) 1,231  
Prepaid expenses and other assets 2,763 (220)  
Accrued interest payable 355 (1,549)  
Accrued expenses and other liabilities (4,845) (6,574)  
Net cash provided by operating activities 26,353 27,091  
Cash flows from investing activities:      
Proceeds from maturities of held-to-maturity securities 360 371  
Purchases of available-for-sale securities (19,249) 0  
Proceeds from paydowns, sales or maturities of available-for-sale securities 12,870 9,929  
Loan originations, net of repayments (110,145) (42,634)  
Purchases of premises and equipment (2,010) (1,012)  
Proceeds from sales of other real estate owned and foreclosed assets 211 0  
Proceeds from bank-owned life insurance 0 725  
Purchases of restricted equity securities (619) (6,197)  
Proceeds from the sale or redemption of restricted equity securities 5,023 17,437  
Purchase of other investments (2,950) (3,675)  
Proceeds from the sale or redemption of other investments 270 290  
Net cash used in investing activities (116,239) (24,766)  
Cash flows from financing activities:      
Net change in deposits 202,007 71,435  
Net change in securities sold under agreements to repurchase (6,184) (4,270)  
Proceeds from Federal Home Loan Bank advances 293,000 373,410  
Repayments of Federal Home Loan Bank advances (393,000) (618,068)  
Proceeds from issuance of common stock, net of issuance costs and taxes paid on cashless exercise of equity awards (477) 79,411  
Net cash provided by (used in) financing activities 95,346 (98,082)  
Net increase (decrease) in cash and cash equivalents 5,460 (95,757)  
Cash and cash equivalents, beginning of period 615,917 479,362 $ 479,362
Cash and cash equivalents, end of period 621,377 383,605 615,917
Supplemental disclosures of cash flow information:      
Interest paid on deposits 33,858 37,994  
Interest paid on borrowed funds 1,552 2,732  
Cash paid for income taxes, net 103 5  
Non-cash investing and financing activities:      
Net change in unrealized gain (loss) on available-for-sale securities 4,237 (6,266)  
Loan charge-offs 812 17,506 $ 21,694
Loans transferred to other real estate owned and foreclosed assets 0 338  
Mortgage servicing rights resulting from sale or securitization of mortgage loans $ 2,653 $ 2,032