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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 51,604 $ 48,020 $ 46,662
Adjustments to reconcile net income to net cash provided by operating activities      
Provision for credit losses 3,597 7,985 6,572
Depreciation and amortization of premises and equipment 4,349 3,954 4,154
(Accretion)/amortization of discounts/premiums on investments, net (998) (2,471) (261)
Amortization of intangible assets 2,131 1,731 1,446
Accretion on acquired loans (2,897) (2,743) (2,618)
Gain on divestiture 0 0 (1,658)
Equity-based compensation expense 403 597 718
Issuance of common stock to 401(k) plan 635 606 657
(Gain) loss on sale of premises and equipment, net (815) (189) (772)
Provision expense and loss on sale of other real estate owned 29 84 453
Loss on sale of securities 0 21 0
(Decrease) increase in other operating activities (299) 4,233 3,671
Net cash provided by operating activities 57,739 61,828 59,024
Investing activities      
Proceeds from sale of available for sale securities 0 38,979 0
Proceeds from maturities, prepayments, and calls of securities available for sale 221,335 83,586 25,748
Payments to acquire securities available for sale (109,979) (74,103) (269,337)
Proceeds from repayments (originations of) loans, net 152,942 64,538 (236,620)
Proceeds from bank owned life insurance 585 0 1,763
Redemption of (Payments for) FHLB stock, net 265 (877) (240)
Net cash provided by (used in) acquisitions and divestitures 0 176,684 (59,039)
Proceeds from sale of premises and equipment 1,129 1,827 1,542
Payments to acquire premises and equipment (2,807) (2,770) (1,160)
Proceeds from sale of other real estate owned 440 798 564
Net cash provided by (used in) investing activities 263,910 288,662 (536,779)
Financing activities      
(Decrease) increase in noninterest-bearing deposits, net (48,421) (98,637) 47,769
Increase (decrease) in interest-bearing deposits, net 17,343 (261,488) (37,291)
Payments for securities sold under agreements to repurchase, net (213) (755) 0
Repayments of FHLB and other borrowings, net 0 0 338
Proceeds from stock options exercised 1,410 91 172
Payments for repurchase of common stock (8,717) (23,038) (21,311)
Payments of common stock dividends (22,017) (21,089) (18,515)
Net cash used in financing activities (60,615) (404,916) (28,838)
Net increase (decrease) in cash and cash equivalents 261,034 (54,426) (506,593)
Cash and cash equivalents at beginning of period 116,420 170,846 677,439
Cash and cash equivalents at end of period 377,454 116,420 170,846
Supplemental disclosure -- cash flow information      
Cash paid for interest 19,350 9,084 2,114
Cash paid for income taxes 13,385 11,783 7,590
Supplemental transactions -- non-cash items      
Transfer of loans to other real estate 798 391 705
Loans originated to finance other real estate 0 20 0
Change in accumulated other comprehensive income/(loss) (220) 4,768 (14,173)
Acquisitions:      
Fair value of assets acquired 0 466,247 0
Fair value of liabilities assumed 0 409,258 0
Net assets acquired 0 71,370 0
Common stock issued in acquisition $ 0 $ 71,354 $ 0