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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 $ 78,898 $ 68,935 $ 72,952
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 5,635 6,104 4,806
Depreciation, amortization and accretion, net 20,778 14,904 15,060
Change in cash surrender value of bank owned life insurance (4,728) (3,981) (3,559)
Gain on cash surrender value of bank owned life insurance 0 (976) 0
Stock-based compensation expense 2,360 1,656 1,802
Operating lease payments (3,333) (3,263) (3,061)
Loss (gain) on investment securities, net 433 (3,383) (33)
(Gain) loss on sale of other real property owned, net (1,317) 4,080 97
Loss on write down of premises and equipment 1,243 131 0
Loss on sale of other assets 0 0 125
Gain on sale of loans held for sale, net (3,596) (1,200) (1,159)
Gain on repayment of subordinated debentures (493) 0 0
Deferred income taxes 590 16,739 (2,232)
Increase in accrued interest receivable (3,557) (2,696) (6,717)
Increase in accrued interest payable 217 1,045 1,538
Origination of loans held for sale (127,020) (62,168) (59,893)
Proceeds from sale of loans held for sale 128,982 58,726 63,462
Gain on equity securities 0 0 (1,145)
Decrease (increase) in other assets 33,524 (20,562) (19,537)
(Decrease) Increase in other liabilities (4,191) (1,674) 3,318
Net cash provided by operating activities 124,425 72,417 65,824
Cash flows from investing activities:      
Proceeds from maturities of certificates of deposit investments 245 1,180 1,225
Purchase of certificates of deposit investments (2,275) (245) (245)
Proceeds from sales of investment securities available-for-sale 32,338 343,610 36,257
Proceeds from maturities of investment securities available-for-sale 91,664 105,964 144,734
Proceeds from maturities of investment securities held-to-maturity 0 668 5,000
Purchase of investment securities available-for-sale (20,109) (1,462) (12,754)
Purchase of held-to-maturity investment securities (53) 0 0
Net increase in loans (99,074) (20,826) (416,204)
Purchases of premises and equipment (4,945) (3,639) (5,020)
Proceeds from sale of premises and equipment 7 0 0
Proceeds from sales of other real property owned 3,637 2,461 996
Proceeds from bank owned life insurance death benefit 0 2,048 0
Net cash (used in) provided by acquisition (8,944) 44,621 67,323
Net cash (used in) provided by investing activities (7,509) 474,380 (178,688)
Cash flows from financing activities:      
Net decrease in deposits (66,563) (328,314) (259,862)
(Decrease) increase in repurchase agreements (9,599) (7,693) 39,623
Proceeds from FHLB advances 165,000 150,000 359,745
Repayment of FHLB advances (186,171) (351,141) (25,856)
Repayment of subordinated debentures (19,455) 0 0
Proceeds from issuance of common stock 1,054 1,004 1,244
Direct expenses related to capital transactions 0 0 (29)
Purchase of treasury stock (659) (465) (340)
Dividends paid on common stock (22,371) (19,557) (17,830)
Net cash (used in) provided by financing activities (138,764) (556,166) 96,695
Decrease in cash and cash equivalents (21,848) (9,369) (16,169)
Cash and cash equivalents at beginning of period 143,064 152,433 168,602
Cash and cash equivalents at end of period 121,216 143,064 152,433
Cash paid (received) during the period for:      
Interest 128,808 104,612 29,614
Income taxes, net of refunds (1,524) 22,252 22,988
Supplemental disclosures of noncash investing and financing activities      
Loans transferred to other real estate owned 4,683 681 383
Initial recognition of right-of-use assets 2,729 1,399 715
Initial recognition of lease liabilities 2,729 1,399 715
LINCO Bancshares, Inc.      
Supplemental disclosures of purchases of capital stock      
Fair value of assets acquired 11,449 1,328,280 750,063
Cash paid 9,000 10,172 15,150
Common stock issued 0 93,508 92,172
Total consideration paid 9,000 103,680 107,322
Fair value of liabilities assumed $ 2,449 $ 1,224,600 $ 642,741