v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 19,537 $ 21,562
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 1,647 2,773
Provision for credit losses 2,100 1,300
Stock-based compensation expense 786 742
Stock grants to directors for retainer fees 26 2
Proceeds from sales of mortgage loans held for sale 84,337 65,603
Origination of mortgage loans held for sale (81,241) (59,297)
Net gain from sales of mortgage loans held for sale (2,464) (2,092)
Net gain from sales and valuation write-downs of foreclosed assets 0 (79)
Earnings on bank owned life insurance (543) (1,172)
Net (gain) loss on instruments designated at fair value and related derivatives 94 (83)
Net change in:    
Accrued interest receivable (1,500) (1,875)
Other assets (9,493) 1,849
Accrued interest payable and other liabilities (16,262) 11,004
Net cash from (for) operating activities (2,976) 40,237
Cash flows from investing activities    
Loan originations and payments, net (35,656) (17,824)
Purchases of securities available for sale (51,657) (591)
Proceeds from maturities, calls and repayments of securities available for sale 6,825 5,271
Proceeds from sales of foreclosed assets 0 79
Proceeds from bank owned life insurance claims 0 1,357
Net purchases of premises and equipment and lease activity (1,537) (1,461)
Net cash for investing activities (82,025) (13,169)
Cash flows from financing activities    
Net increase in time deposits 6,796 55,606
Net increase (decrease) in all other deposits (23,377) 51,286
Net increase (decrease) in securities sold under agreements to repurchase 120,581 (1,116)
Payoffs and paydowns of Federal Home Loan Bank advances (20,862) (30,827)
Proceeds from Federal Home Loan Bank advances 0 10,000
Employee stock purchase plan 12 11
Dividend reinvestment plan 203 204
Payment of cash dividends to common shareholders (5,902) (5,534)
Net cash from financing activities 77,451 79,630
Net change in cash and cash equivalents (7,550) 106,698
Cash and cash equivalents at beginning of period 393,010 130,533
Cash and cash equivalents at end of period 385,460 237,231
Supplemental disclosures of cash flows information    
Interest $ 32,465 $ 28,268