XML 28 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 19,918 $ 23,746 $ 29,369
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 13,250 8,275 3,172
Accretion of certain acquisition-related discounts, net (612) (989) (1,499)
Share-based compensation 1,923 1,994 1,973
Depreciation and amortization 3,857 3,879 4,356
Amortization of premiums and accretion of discounts on securities, net 1,270 1,493 2,292
Deferred income taxes 474 902 708
Reversal of provision for indemnifications (460) (585) (858)
Income from bank-owned life insurance (849) (388) (620)
Pension expense 882 925 639
Pension contribution (1,000)   (2,000)
Proceeds from sales of loans held for sale 527,628 504,716 772,555
Origination of loans held for sale (528,608) (498,134) (699,459)
Gains on sales of loans held for sale (6,064) (5,780) (7,498)
Other gains, net (126) (44) (3,173)
Change in other assets and liabilities:      
Accrued interest receivable (194) (1,416) (2,172)
Other assets 7,676 (1,641) (2,700)
Accrued interest payable 910 2,543 235
Other liabilities (1,387) (685) (4,761)
Net cash provided by operating activities 38,488 38,811 90,559
Investing activities:      
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 100,601 100,812 55,328
Purchases of securities available for sale (56,395) (39,275) (242,228)
Purchases of time deposits, net 977 (7) (494)
Repayments on loans held for investment by non-bank affiliates 158,961 158,761 175,340
Purchases of loans held for investment by non-bank affiliates (169,848) (162,454) (284,428)
Net increase in community banking loans held for investment (179,521) (110,885) (116,663)
Purchases of corporate premises and equipment (3,486) (1,459) (3,394)
Changes in collateral posted with other financial institutions, net     3,880
Other investing activities, net 71 (1,832) 1,380
Net cash used in investing activities (148,640) (56,339) (411,279)
Financing activities:      
Net (decrease) increase in demand and savings deposits (40,400) (229,634) 133,673
Net increase (decrease) in time deposits 145,130 291,904 (44,427)
Net (decrease) increase in short-term borrowings (29,228) 21,632 1,857
Proceeds from long-term borrowings 40,000    
Repayments of long-term borrowings   (4,000)  
Repurchases of common stock (8,761) (7,758) (5,373)
Cash dividends paid (5,780) (5,986) (5,756)
Other financing activities, net (382) (132) (338)
Net cash provided by financing activities 100,579 66,026 79,636
Net (decrease) increase in cash and cash equivalents (9,573) 48,498 (241,084)
Cash and cash equivalents at beginning of period 75,159 26,661 267,745
Cash and cash equivalents at end of period 65,586 75,159 26,661
Supplemental cash flow disclosures:      
Interest paid 41,874 23,859 7,699
Income taxes paid 523 6,073 8,019
Supplemental disclosure of noncash investing and financing activities:      
Transfers from corporate premises and equipment to other real estate owned 1,827   423
Adoption of new accounting standard   1,072  
Liabilities assumed to acquire right of use assets at lease commencement $ 2,730 $ 775 888
Transfers from loans held for sale to loans held for investment     $ 1,425