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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 45,949 $ 49,932 $ 60,597
Adjustments to reconcile net income to net cash from operating activities:      
Provision for credit losses 8,244 8,718 250
(Credit) provision for unfunded commitments (278) 435 872
Depreciation and amortization 6,401 7,327 4,899
Net amortization of securities 554 925 4,817
Available for sale security losses 2,681 498 415
Realized (gains) losses on equity securities (43) (27) 39
(Gain) on debt extinguishment (444) 0 0
Losses (gains) on premises and equipment sales and disposals, net 490 316 (20)
Stock compensation expense 2,643 2,612 1,817
Earnings on bank owned life insurance (2,578) (2,337) (1,626)
Income recognized from death benefit on bank owned life insurance (81) (105) (184)
Origination of loans held for sale (74,522) (64,647) (102,150)
Proceeds from loans held for sale 74,736 64,910 105,956
Net (gains) on sale of loans (1,502) (2,391) (2,062)
Net change in other assets and liabilities 4,365 (3,238) 7,881
NET CASH FROM OPERATING ACTIVITIES 66,615 62,928 81,501
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from maturities and repayments of securities available for sale 58,947 58,562 78,265
Proceeds from sales of securities available for sale 49,728 85,306 37,190
Purchases of securities available for sale (105,750) (650) (239,240)
Proceeds from sale of equity securities 61 69 72
Purchases of equity securities (69) (70) (78)
Proceeds from maturities and repayments of SBIC funds 2,605 2,030 2,740
Purchases of SBIC funds (2,175) (1,870) (3,067)
Purchase of regulatory stock (21,270) (30,288) (5,833)
Proceeds from redemption of regulatory stock 10,797 36,084 3,142
Loan originations and payments, net (70,293) (61,919) (77,198)
Purchase of portfolio loans (8,069) 0 0
Proceeds from loans held for sale previously classified as portfolio loans 1,594 6,785 0
Proceeds from BOLI death benefits 730 419 693
Proceeds from land and building sales 331 533 1,399
Additions to premises and equipment (11,692) (3,880) (2,559)
Net cash paid in business combinations (600) (13,175) (1,033)
NET CASH (USED IN) FROM INVESTING ACTIVITIES (95,125) 77,936 (205,507)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net change in deposits 89,393 (260,195) 14,533
Net change in short-term borrowings (50,000) 185,000 95,000
Redemption of subordinated debentures (2,535) 0 0
Cash dividends paid (25,388) (25,396) (22,004)
Cash paid for withholding taxes on share-based awards (880) (622) (762)
Repurchase of common shares 0 (11,544) 0
NET CASH FROM (USED IN) FINANCING ACTIVITIES 10,590 (112,757) 86,767
NET CHANGE IN CASH AND CASH EQUIVALENTS (17,920) 28,107 (37,239)
Beginning cash and cash equivalents 103,658 75,551 112,790
Ending cash and cash equivalents 85,738 103,658 75,551
Supplemental cash flow information:      
Interest paid 101,247 78,520 16,461
Supplemental noncash disclosures:      
Issuance of stock for business combinations 0 59,202 0
Issuance of stock awards 2,397 1,913 2,184
Transfer of loans to loans held for sale 1,600 7,510 0
Lease liabilities assumed from obtaining right-of-use assets $ 2,201 $ 1,289 $ 1,628