XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 36,644 $ 26,500
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,277 6,900
Amortization of Intangible Assets 1,671 1,824
Provision for credit losses 3,618 3,018
Stock compensation expense 1,712 1,266
Loss on sale of securities available-for-sale 3,719  
Deferred income tax expense (benefit) (146) 628
Increase in cash surrender value of bank owned life insurance (2,693) (1,591)
Net losses from sale and write-downs of other real estate owned and other repossessed assets 508 569
Net gains from mortgage banking (1,753) (950)
Origination of loans held for sale (31,481) (41,010)
Proceeds from sales of loans held for sale 29,375 40,574
Gain from sale of SBK Insurance (3,955)  
Net (gain) loss from sale/disposal of fixed assets 14 (1,647)
Net change in:    
Accrued interest receivable (846) (198)
Accrued interest payable 2,374 250
Other assets 1,286 3,361
Other liabilities (1,130) (3,478)
Net cash provided by operating activities 45,194 36,016
Cash flows from investing activities:    
Proceeds from sales 99,966  
Proceeds from maturities, calls and paydowns 55,084 36,816
Purchases (171,820) (119,935)
Proceeds from maturities, calls and paydowns 1,756 151,881
Proceeds from sales of other investments 1,041 348
Purchases of other investments (4,766) (7,407)
Purchases of bank owned life insurance   (20,000)
Proceeds from sale of SBK Insurance, net of transaction cost 11,107  
Net increase in loans and leases (319,864) (279,709)
Proceeds from sale of fixed assets 123 4,698
Purchases of premises and equipment (2,035) (5,072)
Proceeds from sale of other real estate owned and other repossessed assets 1,807 2,083
Net cash used in investing activities (327,601) (236,297)
Cash flows from financing activities:    
Net increase in deposits 364,442 54,693
Net decrease in securities sold under agreements to repurchase (2,833) (1,082)
Proceeds from borrowings 1,000 155,000
Repayment of borrowings (5,000) (160,500)
Cash dividends paid (4,088) (4,068)
Issuance of subordinated debt, net of issuance costs 98,580  
Issuance of common stock 154 68
Restricted shares withheld for taxes (291) (220)
Repurchases of common stock   (2,967)
Net cash provided by financing activities 451,964 40,924
Net change in cash and cash equivalents 169,557 (159,357)
Cash and cash equivalents, beginning of period 387,570 352,271
Cash and cash equivalents, end of period 557,127 192,914
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 86,963 85,207
Net cash paid during the period for income taxes 9,116 6,724
Noncash investing and financing activities:    
Recognition of operating lease assets in exchange for lease liabilities 790 2,959
Acquisition of real estate through foreclosure   179
Acquisition of other repossessed assets 2,544 3,896
Financed sales of other repossessed assets 1,101 $ 618
Change in goodwill due to sale of SBK Insurance $ (5,773)