XML 15 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 27,699 $ 26,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,894 4,090
Net amortization of premiums on securities 1,456 1,792
(Benefit) provision for credit losses (3,415) 7,444
Share-based compensation 1,315 1,208
Deferred income tax expense (benefit) 2,384 (510)
Proceeds from sale of loans held for sale 19,920 7,791
Originations of loans held for sale (20,437) (7,812)
Income on company owned life insurance (2,658) (1,947)
Net gain on sale of loans held for sale (212) (234)
Net gain on sale of assets of subsidiary (13,520) 0
Net gain on other assets 25 (32)
Non-cash restructuring recoveries against assets 0 (19)
Decrease (increase) in other assets 10,134 (21,176)
Increase (decrease) in other liabilities 21,379 (2,242)
Net cash provided by operating activities 47,964 14,815
Cash flows from investing activities:    
Purchases of available for sale securities (124,748) 0
Purchases of held to maturity securities (762) (1,209)
Proceeds from principal payments, maturities and calls on available for sale securities 130,587 43,342
Proceeds from principal payments, maturities and calls on held to maturity securities 20,527 30,077
Net loan originations (3,572) (350,085)
Net payments for company owned life insurance (12) (13)
Proceeds from sale of assets of subsidiary 27,000 0
Purchases of premises and equipment (2,125) (1,232)
Net cash provided by (used in) investing activities 46,895 (279,120)
Cash flows from financing activities:    
Net (decrease) increase in deposits (79,591) 105,437
Net increase in short-term borrowings 17,000 169,000
Proceeds from long-term borrowings 0 50,000
Purchases of common stock for treasury (396) (563)
Cash dividends paid to common and preferred shareholders (9,967) (9,787)
Net cash (used in) provided by financing activities (72,954) 314,087
Net increase in cash and cash equivalents 21,905 49,782
Cash and cash equivalents, beginning of period 124,442 130,466
Cash and cash equivalents, end of period $ 146,347 $ 180,248