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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 18,051,000 $ 8,531,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net (discount accretion) premium amortization (7,100,000) 450,000
Depreciation and amortization expense 4,244,000 1,072,000
(Recovery of) Provision for credit losses - loans (554,000) 421,000
(Recovery of) Provision for credit losses - unfunded loan commitments 0 (123,000)
Share-based compensation 1,358,000 967,000
Gains on sales of loans originated for sale (225,000) (268,000)
Fair value adjustments on loans held for sale (8,000) (18,000)
Mortgage loans originated for sale (11,225,000) (7,697,000)
Proceeds from sales of loans originated for sale 12,811,000 13,264,000
Net gain on sale of OREO and premises held for sale (6,000) 0
Deferred income tax expense 5,766,000 891,000
Investment securities (gains) losses (13,000) 5,000
Return on investments in limited partnerships (13,000) (16,000)
Net losses (gains) on derivatives 180,000 (130,000)
Income from life insurance (1,289,000) (634,000)
Increase in accrued interest receivable and other assets (578,000) (1,139,000)
Decrease in accrued interest payable and other liabilities (10,805,000) (3,092,000)
Other, net 359,000 186,000
Net cash provided by operating activities 10,953,000 12,670,000
Cash flows from investing activities    
Maturities, repayments and calls of AFS securities 18,432,000 18,134,000
Purchases of AFS securities (39,613,000) (21,784,000)
Net purchases of restricted investments in bank stocks 539,000 539,000
Net decrease (increase) in loans 61,262,000 (6,185,000)
Investment in limited partnerships (369,000) (21,000)
Purchases of bank premises and equipment (2,315,000) (63,000)
Proceeds from disposal of OREO and premises held for sale 1,931,000 0
Net cash provided by (used in) investing activities 39,867,000 (9,380,000)
Cash flows from financing activities    
Net increase in deposits 10,620,000 137,137,000
Net decrease in borrowings with original maturities less than 90 days (2,733,000) (20,186,000)
Payments on FHLB advances with original maturities greater than 90 days (15,000,000) 0
Dividends paid (5,044,000) (2,123,000)
Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting (467,000) (637,000)
Proceeds from issuance of employee stock purchase plan shares 66,000 80,000
Other (16,000) 0
Net cash (used in) provided by financing activities (12,574,000) 114,271,000
Net increase in cash and cash equivalents 38,246,000 117,561,000
Cash and cash equivalents at beginning of period 248,874,000 65,161,000
Cash and cash equivalents at end of period 287,120,000 182,722,000
Cash paid during the period for:    
Interest 26,643,000 15,894,000
Supplemental schedule of noncash activities:    
Lease liabilities arising from obtaining ROU assets $ 831,000 $ 0