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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 11,818 $ 12,845
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 321 1,011
Depreciation and amortization of premises and equipment 1,039 1,096
Accretion of discounts on investments (339) (200)
Amortization of intangible assets 524 530
Accretion on acquired loans (556) (781)
Equity-based compensation expense 0 81
Issuance of common stock to 401(k) plan 0 3
Loss (gain) on sale of premises and equipment, net 2 (5)
Loss on sale of other real estate owned 80 14
(Increase) decrease in accrued interest receivable (99) 162
Increase in other operating activities 421 2,176
Net cash provided by operating activities 13,211 16,932
Investing activities    
Proceeds from maturities, prepayments, and calls of securities available-for-sale 81,386 118,968
Payments to acquire securities available-for-sale (38,748) (5,252)
Net decrease in loans 32,555 51,235
Proceeds from the sale of FHLB stock, net 29 265
Proceeds from bank owned life insurance 0 585
Proceeds from sale of premises and equipment 0 10
Payments to acquire premises and equipment (1,121) (1,780)
Proceeds from sale of other real estate owned 143 76
Net cash provided by investing activities 74,244 164,107
Financing activities    
Decrease (increase) in noninterest-bearing deposits, net 10,295 (29,524)
Decrease in interest-bearing deposits, net (17,065) (10,586)
Increase (decrease) in securities sold under agreements to repurchase, net 2 (113)
Proceeds from stock options exercised 120 0
Payments for repurchase of common stock 0 (2,973)
Payments of common dividends (43,579) (5,358)
Net cash used in financing activities (50,227) (48,554)
Net increase in cash and cash equivalents 37,228 132,485
Cash and cash equivalents at beginning of period 377,454 116,420
Cash and cash equivalents at end of period 414,682 248,905
Supplemental disclosure -- cash flow information    
Cash paid for interest 3,153 4,281
Cash paid for income taxes 0 0
Supplemental transactions -- noncash items    
Transfer of loans to other real estate owned 0 272
Increase (decrease) in other comprehensive income (loss), net of taxes $ 1,666 $ (948)