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 $ 47,051 $ 45,950
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 2,946 3,011
Provision for credit losses 9,800 10,000
Amortization of loan servicing rights 210 241
Loans originated for sale, including participations (8,456) (8,177)
Net gain on sales of loans (246) (253)
Proceeds from sale of loans, including participations 8,688 9,116
Net gain on Visa shares 0 (9,011)
Net (gain) loss on sales of premises and equipment 1 55
Net (gain) loss on sales and calls of securities available-for-sale 0 46
Net securities amortization 2,013 2,393
Stock based compensation expense 2,568 1,875
Earnings on life insurance (1,362) (1,926)
Gain on life insurance 0 (243)
Tax expense (benefit) of stock award issuances 136 (208)
Net change:    
Interest receivable and other assets (4,215) 3,786
Interest payable and other liabilities (14,038) (10,859)
Total adjustments (1,955) (154)
Net cash from operating activities 45,096 45,796
Cash flows from investing activities:    
Proceeds from sale of securities available-for-sale 0 7,136
Proceeds from sale of Visa shares 0 7,358
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 31,253 28,917
Purchases of securities available-for-sale (32,835) 0
Purchase of life insurance (12,765) (241)
Net (increase) decrease in total loans (138,087) (137,068)
Proceeds from sales of land, premises and equipment 1 6
Purchases of land, premises and equipment (3,907) (3,966)
Proceeds from life insurance 0 536
Net cash from investing activities (156,340) (97,322)
Cash flows from financing activities:    
Net increase (decrease) in total deposits 275,867 43,012
Net increase (decrease) in short-term borrowings 5,000 55,000
Proceeds from long-term FHLB borrowings 1,200 0
Net payments on short-term FHLB borrowings 0 (50,000)
Common dividends paid (25,711) (24,624)
Preferred dividends paid (13) (13)
Payments related to equity incentive plans (1,493) (2,596)
Purchase of treasury stock (2,005) (291)
Sale of treasury stock 375 391
Net cash from financing activities 253,220 20,879
Net change in cash and cash equivalents 141,975 (30,647)
Cash and cash equivalents at beginning of the period 168,205 151,824
Cash and cash equivalents at end of the period 310,180 121,177
Cash paid during the period for:    
Interest 82,210 94,597
Income taxes 11,986 11,680
Supplemental non-cash disclosures:    
Right-of-use assets obtained in exchange for lease liabilities, net $ 20 $ 0