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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 47,211 $ 2,411
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 2,433 2,371
Amortization of right-of-use lease asset 615 805
(Accretion) amortization of deferred loan fees, net (393) 451
Amortization of debt issuance costs 134  
Amortization of CDI and other intangibles 4,958 1,665
Amortization expense related to acquired borrowings 348 179
Accretion income related to acquired loans (12,177) (4,750)
Amortization expense related to acquired deposits 620 831
Amortization of low income housing partnerships 1,204 376
(Credit to) provision for credit losses (877) 15,762
Net unrealized gain on equity investments (43) (155)
Net loss on sale of other real estate owned 5  
Loans originated for sale (5,683) (2,564)
Proceeds from sale of loans originated for sale 4,890 2,012
Net gain on sale of loans originated for sale (23) (1)
Net accretion of investment securities (2,587) (197)
Net gain on sale of investment securities available for sale   (1)
Net gain on sale of premises and equipment (65) (1)
Increase in cash surrender value of life insurance (1,604) (1,116)
Gain from bank owned life insurance settlement (118)  
Deferred income tax expense (benefit) 2,449 (2,558)
Stock compensation, including tax effects and expenses 60 667
Net change in:    
Accrued interest receivable (1,363) 2,203
Other assets 4,586 8,788
Accrued interest payable 2,473 (902)
Other liabilities (8,871) 585
Net cash provided by operating activities 38,182 26,861
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale   240,861
Proceeds from repayments of investment securities:    
Available for sale 87,880 27,013
Held to maturity 4,819 4,918
Purchases of investment securities:    
Available for sale (78,560)  
Equity Securities (282) (775)
Net purchase of restricted equity securities (3,297) (4,638)
Proceeds from the sale of equity securities   614
Proceeds from the sale of other real estate 22  
Net cash received in merger with FNCB Bancorp, Inc.   28,811
Net increase in loans (12,889) (19,648)
Purchases of premises and equipment (8,078) (4,926)
Proceeds from the sale of premises and equipment 3,722 153
Proceeds from bank owned life insurance 968  
Net cash (used in) provided by investing activities (5,695) 272,383
Cash flows from financing activities:    
Net decrease in deposits (118,441) (69,005)
Proceeds from long-term debt 49,105  
Repayment of long-term borrowings (10,986) (10,315)
Net advances in short-term borrowings 60,410 (109,880)
Proceeds from the issuance of subordinated debt, net of issuance costs 82,977  
Repayment of subordinated debt (33,000)  
Cash dividends paid (18,480) (11,940)
Net cash provided by (used in) financing activities 11,585 (201,140)
Net increase in cash and cash equivalents 44,072 98,104
Cash and cash equivalents at beginning of period 135,851 187,365
Cash and cash equivalents at end of period 179,923 285,469
Supplemental disclosures:    
Interest 67,524 67,116
Income taxes 6,428 1,154
Noncash items:    
Transfers of fixed assets to other real estate 433 1,556
Transfers of loans to other real estate 1,541 27
Origination of mortgage servicing rights 58 542
Initial recognition of right-of-use assets 2,786 2,819
Initial recognition of lease liability $ 2,786 $ 3,106