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 earnings $ 18,606 $ 14,104
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,229 2,036
Amortization 308 352
Deferred taxes (334) 312
Premium amortization, net of discount accretion 66 851
Gain on sale of loans (479) (499)
Reversal of provision for credit losses (300) (1,450)
Origination of loans held for sale (13,519) (16,347)
Proceeds from loans held for sale 13,436 16,951
Write-down of other real estate and repossessed assets 0 900
Net loss (gain) on sale of premises, equipment, other real estate owned and other assets 244 (9)
Stock based compensation 232 270
Net change in accrued interest receivable and other assets (858) 3,503
Net change in accrued interest payable and other liabilities 140 529
Net cash provided by operating activities 19,771 21,503
Securities available for sale:    
Purchases (49,372) (857,736)
Proceeds from maturities and principal repayments 27,305 811,023
Securities held to maturity:    
Proceeds from maturities and principal repayments 53,297 55,348
Net (origination) repayments of loans (10,016) 90,851
Purchases of premises and equipment (356) (2,593)
Proceeds from sale of premises, equipment, other real estate owned and other assets 964 161
Net cash provided by investing activities 21,822 97,054
Cash flows from financing activities    
Net change in deposits 16,335 (7,084)
Net change in securities sold under agreements to repurchase (766) 1
Proceeds from FHLB advances 0 1,125,000
Repayment of FHLB advances 0 (1,220,000)
Proceeds from line of credit 2,000 0
Repayment of line of credit (2,000) (4,500)
Repayments of debentures 0 (2,000)
Purchase of treasury stock (5,794) (4,427)
Excise tax on stock repurchases (29) 0
Exercise of stock options 1,447 564
Cash dividends paid (5,584) (5,423)
Net cash provided by (used in) financing activities 5,609 (117,869)
Net change in cash and cash equivalents 47,202 688
Cash and cash equivalents at beginning of period 145,964 89,524
Cash and cash equivalents at end of period 193,166 90,212
Supplemental disclosures of cash flow information    
Interest paid 27,652 33,624
Income taxes paid 5,270 4,225
Supplemental schedule of noncash investing and financing activities    
Cash dividends accrued 2,836 2,743
Transfer of loans to other real estate owned and repossessed assets $ 30 $ 16,233