XML 19 R9.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 17,476 $ 17,160
Proceeds from sales of loans held for sale 32,885 28,761
Originations of loans held for sale (31,490) (27,636)
Items not requiring (providing) cash:    
Depreciation 2,143 1,969
Amortization 116 186
Compensation expense for stock option grants 494 456
Provision (credit) for unfunded commitments (931) (348)
Net gain on loan sales (719) (601)
Net (gain) loss on sale of premises and equipment (13) 2
Net loss on sale/write-down of other real estate owned and repossessions 6 5
Accretion of deferred income, premiums, discounts and other (1,189) (3,018)
Loss on derivative interest rate products 2 24
Deferred income taxes (958) (161)
Changes in:    
Interest receivable (1,648) (1,074)
Prepaid expenses and other assets 2,928 2,594
Accrued expenses and other liabilities (1,175) (4,896)
Income taxes refundable/payable 3,257 1,577
Net cash provided by operating activities 21,184 15,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in loans (100,513) (399)
Purchase of premises and equipment (1,302) (1,932)
Proceeds from sale of premises and equipment 33  
Proceeds from sale of other real estate owned and repossessions 69 36
Proceeds from maturities and calls of available-for-sale securities 9 1,509
Principal reductions on mortgage-backed securities 10,115 8,238
Investment in tax credit partnerships (596) (639)
Redemption (purchase) of Federal Home Loan Bank stock and change in other interest-earning assets (7,641) 2,579
Net cash provided by (used in) investing activities (99,826) 9,392
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in certificates of deposit (17,018) (14,076)
Net increase (decrease) in checking and savings deposits (9,136) 43,266
Net increase (decrease) in brokered deposits (11,459) 123,307
Net increase in short-term borrowings 128,463 36,538
Repayment of borrowing under Federal Reserve Bank Term Funding Program   (180,000)
Advances from borrowers for taxes and insurance 3,240 2,179
Repurchases of the Company's common stock (16,922) (10,214)
Dividends paid (4,761) (4,692)
Stock options exercised 4,085 725
Net cash provided by (used in) financing activities 76,492 (2,967)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,150) 21,425
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 189,554 195,756
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 187,404 $ 217,181