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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 42,067 $ 43,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 9,008 11,045
Depreciation and amortization of premises and equipment 5,133 5,204
Loss on disposal of premises and equipment 55 9
Cash flows from operating leases (4,246) (3,950)
Amortization of mortgage servicing rights 583 538
Net amortization and accretion of premium/discounts on investment securities 1,558 2,385
Share-based compensation 1,812 1,204
Net gain on sales of residential mortgage loans (923) (565)
Proceeds from sales of loans held for sale 47,771 30,143
Originations of loans held for sale (46,679) (28,473)
Equity in losses of and distributions from unconsolidated entities 24 56
Net increase in cash surrender value of bank-owned life insurance (4,653) (3,203)
Deferred income tax expense 13,369 8,955
Net tax expense (benefit) from share-based compensation 191 (20)
Net change in other assets and liabilities (858) 16,234
Net cash provided by operating activities 64,212 83,500
Cash flows from investing activities:    
Proceeds from maturities of and calls on available-for-sale investment securities 38,819 44,812
Purchases of investment securities available-for-sale (95,533) (19,057)
Proceeds from sale of investment securities 0 1,405
Proceeds from maturities of and calls on held-to-maturity investment securities 30,987 29,823
Net repayments of loans 111,592 46,520
Purchases of loan portfolios (27,115) (19,659)
Proceeds from sales of loans originated for investment 0 9,629
Purchases of bank-owned life insurance (2,803) 0
Proceeds from bank-owned life insurance death benefits 2,248 2,627
Net purchases of premises, equipment and land (13,579) (10,969)
Net return of capital from unconsolidated entities 0 495
Contributions to unconsolidated entities (17,930) (395)
Net sales of FHLB stock (136) (1,849)
Net cash provided by investing activities 26,550 83,382
Cash flows from financing activities:    
Net (decrease) increase in deposits (264,579) 138,522
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 (21,106) (21,085)
Repurchases of common stock and other related costs (945) (2,632)
Net cash (used in) provided by financing activities (286,630) 159,805
Net (decrease) increase in cash and cash equivalents (195,868) 326,687
Cash and cash equivalents at beginning of period 522,437 112,044
Cash and cash equivalents at end of period 326,569 438,731
Cash paid during the period for:    
Interest 78,148 37,673
Income taxes 0 7,316
Supplemental disclosure of non-cash information:    
Lease liabilities arising from obtaining right-of-use lease assets 6,187 0
Amortization of unrealized losses on investment securities transferred to held-to-maturity at fair value $ 5,425 $ 3,644