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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 48,240 $ 40,597
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 4,858 8,400
Depreciation and amortization of premises and equipment and equipment for operating leases 8,437 8,558
Deferred income tax expense 346 1,217
Net accretion of purchase accounting adjustments on loans (1,694) (2,033)
Net amortization and accretion 2,920 5,037
SBIC investments income (2,254) (895)
Gain on sale of branches (1,448) 0
(Gain) loss on sale of premises and equipment (28) 9
Loss on repossessed assets 331 0
Loss on previously leased equipment 1,525 1,308
BOLI income (2,576) (3,470)
Gain on sale of loans held for sale (5,742) (5,185)
Origination of loans held for sale (352,105) (201,485)
Proceeds from sales of loans held for sale 353,638 198,199
New deferred loan origination fees (costs), net 76 (1,931)
Decrease (increase) in accrued interest receivable and other assets 3,428 (8,241)
Share-based compensation expense 1,579 1,363
ESOP compensation expense 1,458 1,151
Decrease in accrued interest payable and other liabilities (9,385) (1,932)
Net cash provided by operating activities 51,604 40,667
Investing activities    
Purchase of debt securities available for sale (11,683) (33,258)
Proceeds from maturities, calls and paydowns of debt securities available for sale 21,550 22,598
Purchases of CDs in other banks (1,742) (3,925)
Proceeds from maturities of CDs in other banks 9,447 9,357
Net (purchases) redemption of FHLB and FRB stock (695) 9
Net capital contributions in SBIC investments (975) (805)
Net decrease (increase) in loans 11,216 (50,301)
Purchase of BOLI (30) (28)
Proceeds from redemption of BOLI policies 2,174 44,334
Death benefit proceeds from BOLI policies 0 2,363
Purchase of equipment for operating leases - lessor (2,550) (13,703)
Proceeds from sale of equipment for operating leases - lessor 1,410 8,657
Purchase of premises and equipment (3,123) (1,492)
Proceeds from sale of premises and equipment and assets held for sale 7,652 0
Proceeds from sale of repossessed assets 544 0
Net cash provided by (used in) investing activities 33,195 (16,194)
Financing activities    
Deposits assumed by third parties through branch sales (34,252) 0
Net increase (decrease) in deposits (46,724) 100,215
Net decrease in revolving line of credit 0 (12,750)
Net decrease in short-term borrowings 42,000 (161,000)
Common stock repurchased (3,334) (645)
Cash dividends paid (6,166) (5,615)
Retired stock (558) (365)
Exercised stock options 846 2,024
Net cash provided by financing activities (48,188) (78,136)
Net increase (decrease) in cash and cash equivalents 36,611 (53,663)
Cash and cash equivalents at beginning of period 279,219 347,140
Cash and cash equivalents at end of period 315,830 293,477
Cash paid during the period for    
Interest 65,309 66,001
Income taxes 14,593 13,664
Noncash transactions    
Unrealized gain in value of debt securities available for sale, net of income taxes 2,010 1,601
Transfers of loans held for sale to loans held for investment 15,026 17,040
Transfers of loans held for investment to repossessed assets 293 872
Transfer of premises and equipment to assets held for sale 7,624 0
ROU asset and lease liabilities for operating lease accounting $ 776 $ 0