CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 28,762	$ 30,662
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	6,175	6,171
Depreciation and amortization of premises and equipment	3,454	3,376
Loss on disposal of premises and equipment	16	9
Cash flows from operating leases	(2,682)	(2,692)
Amortization of mortgage servicing rights	370	356
Net amortization and accretion of premium/discounts on investment securities	1,099	1,602
Share-based compensation	1,179	651
Net gain on sales of residential mortgage loans	(748)	(296)
Proceeds from sales of loans held for sale	36,620	14,486
Originations of loans held for sale	(38,044)	(15,678)
Equity in losses of unconsolidated entities	31	25
Distributions from unconsolidated entities	0	44
Net increase in cash surrender value of bank-owned life insurance	(2,756)	(2,622)
Deferred income tax expense	1,165	11,225
Net tax expense (benefit) from share-based compensation	128	(15)
Net change in other assets and liabilities	8,177	963
Net cash provided by operating activities	42,946	48,267
Cash flows from investing activities:
Proceeds from maturities of and calls on available-for-sale investment securities	25,495	28,515
Purchases of investment securities available-for-sale	(62,336)	(14,907)
Proceeds from maturities of and calls on held-to-maturity investment securities	19,545	18,148
Net repayments of loans	59,444	48,382
Purchases of loan portfolios	(12,384)	(19,659)
Purchases of bank-owned life insurance	(2,502)	0
Proceeds from bank-owned life insurance death benefits	2,248	2,453
Net purchases of premises, equipment and land	(7,932)	(8,270)
Contributions to unconsolidated entities	(7,787)	(75)
Net purchases of FHLB stock	(132)	(1,814)
Net cash provided by investing activities	13,659	52,773
Cash flows from financing activities:
Net (decrease) increase in deposits	(265,137)	69,514
Net decrease in FHLB advances and other short-term borrowings	0	(5,000)
Proceeds from long-term debt	0	50,000
Cash dividends paid on common stock	(14,069)	(14,054)
Repurchases of common stock and other related costs	(945)	(2,560)
Net cash (used in) provided by financing activities	(280,151)	97,900
Net (decrease) increase in cash and cash equivalents	(223,546)	198,940
Cash and cash equivalents at beginning of period	522,437	112,044
Cash and cash equivalents at end of period	298,891	310,984
Cash paid during the period for:
Interest	52,084	22,540
Income taxes	0	3,806
Supplemental disclosure of non-cash information:
Lease liabilities arising from obtaining right-of-use lease assets	5,029	0
Amortization of unrealized losses on investment securities transferred to held-to-maturity at fair value	$ 3,505	$ 3,644

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets, and the amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value.

No definition available.