XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 37,499 $ 16,269
Adjustments to reconcile net income to net cash provided by operating activities:    
Net (discount accretion) premium amortization (11,949) 836
Depreciation and amortization expense 7,892 2,136
(Recovery of) Provision for credit losses - loans (345) 1,233
Recovery of credit losses - unfunded loan commitments (100) (123)
Share-based compensation 2,644 1,831
Gains on sales of loans originated for sale (557) (427)
Fair value adjustments on loans held for sale (27) (31)
Mortgage loans originated for sale (27,812) (16,472)
Proceeds from sales of loans originated for sale 29,804 21,184
Net gain on sale of OREO and premises held for sale (119) 0
Net gain on disposal of premises and equipment (18) 0
Deferred income tax expense 6,108 321
Investment securities (gains) losses (21) 17
Net losses (gains) on derivatives 393 (168)
Income from life insurance (2,600) (1,280)
Decrease (increase) in accrued interest receivable and other assets 3,641 (2,752)
Decrease in accrued interest payable and other liabilities (9,520) (3,799)
Other, net 517 328
Net cash provided by operating activities 35,430 19,103
Cash flows from investing activities    
Maturities, repayments and calls of AFS securities 39,330 31,841
Purchases of AFS securities (89,663) (50,289)
Net (purchases) redemptions of restricted investments in bank stocks (972) 845
Net decrease (increase) in loans 10,596 (51,088)
Investment in limited partnerships (1,059) (4,521)
Purchases of bank premises and equipment (3,105) (100)
Proceeds from disposal of OREO and premises held for sale 2,182 0
Proceeds from disposal of premises and equipment 18 0
Other (15) 0
Net cash used in investing activities (42,688) (73,312)
Cash flows from financing activities    
Net (decrease) increase in deposits (107,178) 144,070
Net increase (decrease) in borrowings with original maturities less than 90 days 40,184 (17,660)
Payments on FHLB advances with original maturities greater than 90 days (15,000) 0
Dividends paid (10,116) (4,266)
Acquisition of treasury stock (65) 0
Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting (478) (637)
Proceeds from issuance of employee stock purchase plan shares 66 80
Other 348 (30)
Net cash (used in) provided by financing activities (92,239) 121,557
Net (decrease) increase in cash and cash equivalents (99,497) 67,348
Cash and cash equivalents at beginning of period 248,874 65,161
Cash and cash equivalents at end of period 149,377 132,509
Cash paid during the period for:    
Interest 52,645 33,044
Income taxes 300 4,625
Supplemental schedule of noncash activities:    
Lease liabilities arising from obtaining ROU assets $ 2,010 $ 0