XML 19 R8.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 17,088 $ 13,764
Adjustments to reconcile net income to net cash provided by operating activities:    
Net accretion of acquisition accounting estimates (4,263) (3,153)
Provision for credit losses 85 1,028
Depreciation and amortization 3,578 4,077
Net amortization of securities (69) 36
Amortization of debt issuance costs 72 30
Gain on mortgage loans held for sale (1,549) (966)
Loss (gain) on other mortgage loan activity 238 (284)
Proceeds from sale of mortgage loans held for sale 50,845 33,739
Originations of loans held for sale (41,379) (29,362)
Stock-based compensation expense 913 511
Deferred income tax expense (benefit) 327 (26)
Loss (gain) on sales and valuation adjustments of repossessed assets 127 94
Loss on valuation adjustments on mortgage servicing rights 159 330
Loss on disposal of fixed assets 0 27
Loss (gain) on disposal of premises held for sale 0 61
Loss (gain) on sales and valuation adjustments on other real estate owned 44 0
Fair value adjustment on equity securities 39 (87)
Bank-owned life insurance income (33) (529)
Net changes in:    
Accrued interest receivable (2,125) (985)
Other assets 587 740
Accrued interest payable 932 (39)
Other liabilities 5,957 777
Net cash provided by operating activities 31,573 19,783
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of available for sale securities 5,518 3,701
Proceeds from maturities and principal payments of held to maturity securities 21,108 11,388
Purchases of available for sale securities (49,926) (31,865)
Purchases of equity securities (48) (44)
Purchase of restricted securities (14) (158)
Net change in loans 55,093 (2,256)
Purchases of premises and equipment (1,087) (1,024)
Proceeds from sales of repossessed assets 82 1,234
Purchases of bank owned life insurance (316) (90)
Proceeds from disposal of premises held for sale 0 843
Net cash provided (used in) by investing activities 30,410 (18,271)
Net changes in:    
Noninterest-bearing deposits (20,528) 2,202
Interest-bearing deposits (51,716) (70,527)
Shares withheld as tax payments associated with settlement of restricted stock units (543) 0
Common stock dividends paid (4,030) (4,032)
Issuance of common stock 90 0
Net cash used in financing activities (76,727) (72,357)
Net decrease in cash and cash equivalents (14,744) (70,845)
Cash and cash equivalents at beginning of period 355,566 459,851
Cash and cash equivalents at end of period 340,822 389,006
Supplemental cash flow information:    
Interest paid 24,754 29,477
Recognition of lease liabilities arising from right-of-use assets 0 915
Transfers from loans to repossessed assets 674 569
Unrealized (losses) gains on available for sale securities $ (931) $ 1,667