XML 134 R120.htm IDEA: XBRL DOCUMENT v3.24.0.1
Condensed Parent Company Only Financial Statements - Summary of Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash compensation $ 2,375 $ 2,441 $ 2,354
Amortization of subordinated debt issuance cost 228 120 0
Increase in accrued interest receivable and other assets (8,023) (10,427) (2,661)
Decrease in accrued expenses and other liabilities (1,109) 9,820 (1,525)
Net cash provided by operating activities 41,356 51,199 55,715
Cash flows from investing activities      
Net cash paid in acquisitions 0 (16,123) 0
Net cash used in investing activities (94,255) (495,352) 54,930
Cash flows from financing activities      
Proceeds from exercise of stock options 102 375 80
Proceeds from issuance of subordinated debt, net of issuance cost 0 53,892 0
Payment of dividends on common stock (8,222) (7,777) (7,867)
Issuance of stock under incentive plans 329 324 303
Purchase of Company’s common stock (5,259) (11,333) (8,900)
Net cash provided by (used in) financing activities 41,329 (69,889) 302,846
Net change in cash and cash equivalents (11,570) (514,042) 413,491
Cash and cash equivalents at beginning of year 87,401 601,443 187,952
Cash and cash equivalents at end of year 75,831 87,401 601,443
Parent Company      
Cash Flows from Operating Activities      
Net income 40,240 34,072 48,621
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash compensation 1,468 1,629 1,585
Amortization of subordinated debt issuance cost 228 120 0
Increase in accrued interest receivable and other assets (558) (1,225) (1,058)
Undistributed earnings in subsidiary (28,187) 38,925 (33,766)
Decrease in accrued expenses and other liabilities 0 (9) (3)
Net cash provided by operating activities 13,191 73,512 15,379
Cash flows from investing activities      
Net cash paid in acquisitions 0 (64,593) 0
Investment in subsidiaries 0 (40,000) 0
Net cash used in investing activities 0 (104,593) 0
Cash flows from financing activities      
Proceeds from exercise of stock options 102 375 80
Proceeds from issuance of subordinated debt, net of issuance cost 0 53,892 0
Payment of dividends on common stock (8,222) (7,777) (7,867)
Issuance of stock under incentive plans 329 324 303
Purchase of Company’s common stock (5,259) (11,333) (8,900)
Net cash provided by (used in) financing activities (13,050) 35,481 (16,384)
Net change in cash and cash equivalents 141 4,400 (1,005)
Cash and cash equivalents at beginning of year 6,443 2,043 3,048
Cash and cash equivalents at end of year $ 6,584 $ 6,443 $ 2,043