v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net Income $ 21,407 $ 25,265
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of mortgage loans held for sale (101,690) (98,966)
Proceeds from the sale of mortgage loans 91,258 95,804
Gain on sale of mortgage loans, net of origination costs (1,005) (848)
Provision (credit) for credit losses 16,349 (1,452)
Depreciation and amortization expense 2,828 1,634
Investment securities (accretion) and amortization, net 884 885
Stock-based compensation expense 1,963 1,702
Amortization of core deposit intangible assets 2,946 278
Purchase accounting accretion, net (9,981) (40)
Deferred Income Taxes and Tax Credits (1,359) 339
Decrease (increase) in other assets 1,501 (4,451)
Increase (Decrease) In Derivative Collateral Received From Counterparties (6,870) 11,350
(Decrease) increase in other liabilities (11,165) 748
Net cash provided by operating activities 7,066 32,248
Investing Activities    
Cash received in Northway acquisition 48,261 0
Proceeds from sales of available-for-sale debt securities 56,432 0
Purchase of available-for-sale debt securities (120,851) 0
Proceeds from maturities of available-for-sale debt securities 48,995 38,873
Proceeds from maturities and recoveries of held-to-maturity securities 16,298 15,064
Purchase of held-to-maturity securities 5,000 0
Net increase in loans (30,659) (46,577)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (18,265) (9,324)
Proceeds from sale of Federal Home Loan Bank stock 16,485 7,613
Purchase of premises and equipment 3,247 1,833
Recoveries of previously charged-off loans 299 271
Net cash provided by investing activities 8,748 4,087
Financing Activities    
Net decrease in deposits (90,241) (83,340)
Net proceeds from borrowings less than 90 days 33,247 31,999
Proceeds from the Bank Term Funding Program 0 90,000
Repayment of Bank Term Funding Program 0 (55,000)
Payments of FHLBank Borrowings, Financing Activities (45,000) 0
Common stock repurchases 0 1,646
Issuance of restricted stock, net of repurchase for tax withholdings (513) (115)
Cash dividends paid on common stock 14,212 12,278
Finance lease payments (243) (199)
Net cash used in financing activities (116,962) (30,579)
Net (decrease) increase in cash, cash equivalents and restricted cash (101,148) 5,756
Cash, cash equivalents, and restricted cash at beginning of period 214,963 99,804
Cash, cash equivalents and restricted cash at end of period 113,815 105,560
Supplemental information    
Interest paid 59,203 58,711
Income taxes paid 983 5,260
Cash dividends declared, not paid 7,125 6,158
Change in fair value hedges presented within residential real estate loans and other assets 2,965 5,501
Assets acquired in Northway acquisition, excluding cash received 1,162,736 0
Liabilities assumed in Northway acquisition 1,116,771 0
Common stock issued for Northway acquisition $ 96,490 $ 0