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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 82,813 $ 78,004 $ 81,814
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 5,003 5,351 5,219
Deferred tax expense (benefit) (1,732) 709 3,250
Stock-based compensation 1,354 1,576 1,366
Provision for credit losses 10,951 6,811 4,905
Write-downs of other real estate owned and other repossessed assets 105 211 285
Gains on sale of loans held for sale (294) (395) (1,525)
Securities gains (losses) (8) (4) 81
Fair value adjustment in equity securities (623) (992) 87
Gains on sale of assets, net (102) (408) (354)
Proceeds from sale of mortgage loans held for sale 11,555 15,203 65,974
Funding of mortgage loans held for sale (11,293) (14,851) (61,926)
Amortization of securities premiums and discounts, net 2,564 2,658 5,466
Change in cash surrender value of bank owned life insurance (3,995) (2,361) (1,650)
Payment of operating lease liabilities (1,190) (1,560) (1,773)
Mortgage servicing rights:      
Fair value adjustments 431 965 (1,069)
New servicing assets created (123) (162) (625)
Changes in:      
Accrued interest receivable (1,183) (3,983) (4,177)
Other assets 1,951 (2,630) 2,507
Accrued interest payable 989 5,152 1,221
Other liabilities 7,999 (3,562) 608
Net cash provided by operating activities 105,172 85,732 99,684
Certificates of deposit in other banks:      
Purchase of certificates of deposit 0 (245) 0
Maturity of certificates of deposit 0 245 0
Securities available-for-sale (AFS):      
Purchase of AFS securities (55,365) (19,478) (179,627)
Proceeds from sales of AFS securities 14,232 21,529 11,462
Proceeds from prepayments, calls, and maturities of AFS securities 153,171 124,656 193,843
Change in loans, net (444,061) (344,217) (302,466)
Purchase of premises and equipment (8,078) (6,322) (6,218)
Proceeds from sale and retirement of premises and equipment 70 375 620
Purchase of Federal Home Loan Bank stock (4,757) (3,191) 0
Redemption of stock by Federal Home Loan Bank 4,407 5,155 1,463
Proceeds from sale of other real estate owned and repossessed assets 774 1,295 988
Additional investment in other real estate owned and repossessed assets (13) (47) (73)
Additional investment in bank owned life insurance 0 (6,931) 0
Proceeds from settlement of bank owned life insurance 1,591 336 1
Redemption of bank owned life insurance 2,356 241 0
Net cash used in investing activities (335,673) (226,599) (280,007)
Cash flows from financing activities:      
Change in deposits, net 345,567 298,479 81,851
Change in repurchase agreements and federal funds purchased, net 14,921 9,814 (55,657)
Advances from Federal Home Loan Bank 100,000 225,000 45,000
Payments on advances from Federal Home Loan Bank (100,020) (225,021) (45,020)
Payment of finance lease liabilities 0 (33) (24)
Proceeds from long-term debt/other borrowings 0 6,563 0
Repayment of long-term debt/other borrowings (225) (163) 0
Issuance of common stock 1,770 1,129 1,041
Dividends paid (33,407) (32,187) (29,938)
Net cash provided by (used in) financing activities 328,606 283,581 (2,747)
Net increase (decrease) in cash and cash equivalents 98,105 142,714 (183,070)
Cash and cash equivalents at beginning of year 271,400 128,686 311,756
Cash and cash equivalents at end of year 369,505 271,400 128,686
Supplemental disclosures:      
Income taxes paid 20,611 20,728 16,293
Interest paid 126,459 90,388 27,419
Non-cash activities:      
Loans to facilitate the sale of other real estate owned and repossessed assets 356 1,306 1,124
Common stock dividends accrued, paid in subsequent quarter 276 291 278
Real estate and assets acquired in settlement of loans 3,160 658 2,433
Right-of-use assets obtained in exchange for new operating/finance lease liabilities $ 0 $ 358 $ 5,539