v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities:    
Net income $ 68,627 $ 57,063
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion 7,385 9,244
Provision for credit losses 2,550 2,100
Increase in cash surrender value of life insurance (2,849) (2,572)
Stock-based compensation expense 3,587 3,596
Asset (gains) losses, net 553 (2,525)
Gain on sale of loans held for sale, net (3,482) (3,068)
Proceeds from sale of loans held for sale 106,410 89,310
Origination of loans held for sale (106,465) (92,425)
Net change in accrued interest receivable and other assets (1,744) 2,843
Net change in accrued interest payable and other liabilities 6,122 (2,848)
Net cash provided by (used in) operating activities 80,694 60,718
Cash Flows From Investing Activities:    
Net (increase) decrease in loans (210,716) (172,460)
Purchases of securities AFS (68,718) (75,412)
Proceeds from sales of securities AFS 1,250 4,987
Proceeds from calls and maturities of securities AFS 38,761 70,003
Purchases of other investments (2,239) (798)
Proceeds from sales of other investments 4,448 3,720
Net (increase) decrease in premises and equipment (1,007) (6,273)
Net (increase) decrease in other real estate and other assets 192 (490)
Net cash provided by (used in) investing activities (238,029) (176,723)
Cash Flows From Financing Activities:    
Net increase (decrease) in deposits 137,989 43,278
Repayments of long-term borrowings (27,400) (4,010)
Purchase and retirement of common stock (56,036) 0
Cash dividends paid on common stock (9,156) (7,958)
Proceeds from issuance of common stock 56 429
Proceeds from issuance of common stock in stock-based compensation plans 5,846 1,523
Purchases of common stock in stock-based compensation plans (7,373) (158)
Net cash provided by (used in) financing activities 43,926 33,104
Net increase (decrease) in cash and cash equivalents (113,409) (82,901)
Cash and cash equivalents:    
Beginning 536,047 491,431
Ending [1] 422,638 408,530
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 83,038 83,739
Cash paid for taxes 16,500 7,050
Transfer of loans and bank premises to other real estate owned 395 27
Capitalized mortgage servicing rights $ 1,219 $ 893
[1] Cash and cash equivalents included $270,000 of restricted cash at June 30, 2025, while there was no restricted cash in cash and cash equivalents at June 30, 2024.