XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 38,305 $ 33,328
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,535 1,462
Provision for credit losses 1,102 1,703
Net amortization of debt securities 1,409 1,998
Deferred income tax expense 1,091 722
Stock-based compensation 874 885
Net accretion of discount and deferred loan fees on loans (3,801) (3,572)
Net realized loss on sales of securities 0 3,382
Net unrealized loss (gain) on equity securities (31) 112
Net loss on disposals of bank premises and equipment 83 55
Net gain on sales of bank premises held for sale (59) 0
Impairment losses on bank premises held for sale 50 580
Net gain on sales of foreclosed assets (41) (95)
Write-down of foreclosed assets 14 36
Amortization of intangibles 1,389 1,420
Decrease in fair value of mortgage servicing rights 1,059 17
Amortization of discount and issuance costs on subordinated notes and debentures 70 70
Amortization of discount on Federal Home Loan Bank advances 97 204
Amortization of premium on time deposits 0 (57)
Mortgage loans originated for sale (23,453) (28,101)
Proceeds from sale of mortgage loans 23,434 30,302
Net gain on sale of mortgage loans (711) (741)
Increase in cash surrender value of bank owned life insurance (331) (330)
Decrease in accrued interest receivable 4,146 2,109
Decrease (increase) in other assets 424 (4,937)
Increase (decrease) in other liabilities (2,662) 6,017
Net cash provided by operating activities 43,993 46,569
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of interest-bearing time deposits with banks 0 (11)
Proceeds from sales of debt securities 0 66,812
Proceeds from sales and redemptions of equity securities 54 58
Proceeds from paydowns, maturities, and calls of debt securities 86,079 58,497
Purchase of debt securities (125,579) (27,753)
Purchase of equity securities (34) (146)
Purchase of loans (9,782) (4,448)
Net decrease in loans 129,077 26,101
Proceeds from redemption of restricted stock 107 2,074
Purchases of bank premises and equipment (3,383) (2,975)
Proceeds from sales of bank premises held for sale 186 0
Proceeds from sales of foreclosed assets 469 965
Net cash provided by investing activities 77,194 119,174
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in deposits (11,723) (82,687)
Net decrease in repurchase agreements (28,413) (13,112)
Proceeds from Federal Home Loan Bank advances 1,800 907
Repayment of long-term Federal Home Loan Bank advances (7,888) 0
Taxes paid related to the vesting of restricted stock units (691) (331)
Repurchase of common stock (2,903) (4,423)
Cash dividends and dividend equivalents paid (13,319) (12,109)
Net cash used in financing activities (63,137) (111,755)
NET INCREASE IN CASH AND CASH EQUIVALENTS 58,050 53,988
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 137,692 141,252
CASH AND CASH EQUIVALENTS AT END OF PERIOD 195,742 195,240
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 29,168 31,206
Net cash paid for income taxes 14,145 9,801
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets 965 374
Transfers of bank premises and equipment to bank premises held for sale $ 0 $ 317