XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 11,254 $ 9,358
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,168 2,460
Amortization of intangible assets 569 612
Provision for credit losses 979 (440)
Stock compensation expense 761 518
Deferred income tax expense (benefit) 988 1,439
Increase in cash surrender value of bank owned life insurance (888) (523)
Net losses from sale and write-downs of other real estate owned and other repossessed assets 84  
Net gains from mortgage banking (464) (250)
Origination of loans held for sale (4,758) (10,825)
Proceeds from sales of loans held for sale 7,374 10,632
Net (gain) loss from sale/disposal of fixed assets 26 (1,373)
Net change in:    
Accrued interest receivable (106) (64)
Accrued interest payable 1,188 (781)
Other assets (1,696) (1,616)
Other liabilities (3,192) (2,071)
Net cash provided by operating activities 14,287 7,076
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns 11,144 11,394
Purchases (23,639) (81,009)
Proceeds from maturities, calls and paydowns 570 100,527
Proceeds from sales of other investments 1,041  
Purchases of other investments (797) (205)
Net increase in loans and leases (87,115) (34,057)
Proceeds from sale of fixed assets 17 3,248
Purchases of premises and equipment (929) (2,914)
Proceeds from sale of other real estate owned and other repossessed assets 730  
Net cash used in investing activities (98,978) (3,016)
Cash flows from financing activities:    
Net increase in deposits 122,188 126,287
Net (decrease) increase in securities sold under agreements to repurchase (524) (1,229)
Repayment of borrowings   (2,000)
Cash dividends paid (1,357) (1,360)
Issuance of common stock 63 43
Restricted shares withheld for taxes (265) (131)
Net cash provided by financing activities 120,105 121,610
Net change in cash and cash equivalents 35,414 125,670
Cash and cash equivalents, beginning of period 387,570 352,271
Cash and cash equivalents, end of period 422,984 477,941
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 26,950 28,843
Net cash paid during the period for income taxes 23 5
Noncash investing and financing activities:    
Recognition of operating lease assets in exchange for lease liabilities 55 99
Acquisition of real estate through foreclosure   179
Acquisition of other repossessed assets 1,156 1,139
Financed sales of other repossessed assets $ 562 $ 58