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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 31,558 $ 35,356
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 7,932 8,232
(Credit) provision for unfunded loans (261) 635
Depreciation and amortization 4,604 5,779
Net amortization of securities 453 690
Available for sale security losses 2,680 498
Realized (gains) on equity securities (33) (8)
(Gain) on debt extinguishment (444) 0
Loss on premises and equipment sales and disposals, net 391 149
Stock compensation expense 1,956 2,008
Earnings on bank owned life insurance (1,921) (1,720)
Income recognized from death benefit on bank owned life insurance (125) (105)
Origination of loans held for sale (56,610) (52,342)
Proceeds from loans held for sale 57,094 52,401
Net gains on sale of loans (1,219) (1,111)
Net change in other assets and liabilities 7,318 (2,012)
NET CASH FROM OPERATING ACTIVITIES 53,373 48,450
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 42,379 44,870
Proceeds from sales of securities available for sale 48,865 85,306
Purchases of securities available for sale (60,334) (650)
Proceeds from sales of equity securities 54 46
Purchase of equity securities (56) (52)
Proceeds from maturities and repayments of SBIC funds 800 754
Purchases of SBIC funds (1,592) (749)
Proceeds from redemption of regulatory stock 10,065 26,076
Purchase of regulatory stock (7,544) (20,170)
Loan originations and payments, net (80,246) (24,237)
Purchase of portfolio loans (8,069) 0
Proceeds from loans held for sale previously classified as portfolio loans 1,594 0
Proceeds from BOLI death benefit 556 419
Additions to premises and equipment (7,245) (1,977)
Net cash paid in business combinations 0 (13,175)
NET CASH FROM INVESTING ACTIVITIES (60,773) 96,461
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 184,451 74,069
Net change in short-term borrowings (70,000) (170,000)
Redemption of subordinated debentures (2,535) 0
Cash dividends paid (19,038) (19,064)
Repurchase of common shares 0 (11,544)
NET CASH FROM FINANCING ACTIVITIES 92,878 (126,539)
NET CHANGE IN CASH AND CASH EQUIVALENTS 85,478 18,372
Beginning cash and cash equivalents 103,658 75,551
Ending cash and cash equivalents 189,136 93,923
Supplemental cash flow information:    
Interest paid 85,457 57,384
Supplemental noncash disclosures:    
Issuance of stock awards 2,195 1,658
Issuance of stock for business combinations 0 59,202
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 1,289