XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 25,531 $ 21,596
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 1,155 5,847
Depreciation and amortization of premises and equipment 2,224 1,912
Accretion of discounts on investments (329) (2,015)
Amortization of intangible assets 1,060 659
Accretion on acquired loans (1,443) (1,077)
Equity-based compensation expense 403 432
Issuance of common stock to 401(k) plan 3 8
Loss on sale of premises and equipment, net 8 12
Loss on sale of other real estate owned 32 41
Net loss on sale of securities 0 21
Decrease (increase) in accrued interest receivable 897 (906)
Increase in other operating activities 1,843 1,247
Net cash provided by operating activities 31,384 27,777
Investing activities    
Proceeds from sale of securities available-for-sale 0 38,979
Proceeds from maturities, prepayments, and calls of securities available-for-sale 155,005 25,788
Payments to acquire securities available-for-sale (5,252) (54,272)
Net decrease in loans 97,437 16,752
Proceeds from the sale (purchase) of FHLB stock, net 265 (146)
Proceeds from bank owned life insurance 585 0
Cash proceeds from merger, net 0 176,684
Proceeds from sale of premises and equipment 13 12
Payments to acquire premises and equipment (2,150) (1,931)
Proceeds from sale of other real estate owned 332 382
Net cash provided by (used in) investing activities 246,235 202,248
Financing activities    
Decrease in noninterest-bearing deposits, net (42,458) (55,562)
Decrease in interest-bearing deposits, net (2,595) (174,210)
Repayments from securities sold under agreements to repurchase, net (225) (526)
Proceeds from stock options exercised 42 48
Payments for repurchase of common stock (8,249) (7,689)
Payments of common dividends (10,677) (10,272)
Net cash (used in) provided by financing activities (64,162) (248,211)
Net decrease in cash and cash equivalents 213,457 (18,186)
Cash and cash equivalents at beginning of period 116,420 170,846
Cash and cash equivalents at end of period 329,877 152,660
Supplemental disclosure -- cash flow information    
Cash paid for interest 9,021 2,645
Cash paid for income taxes 6,056 4,641
Supplemental transactions -- noncash items    
Transfer of loans to other real estate owned 272 79
Loans originated to finance other real estate owned 0 20
(Decrease) increase in accumulated other comprehensive income (loss), net of taxes $ (1,463) $ 1,258