v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 14,747 $ 15,009
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 916 798
Amortization of right-of-use lease asset 185 258
Amortization of net deferred loan fees (225) (278)
Amortization of debt issuance costs 103  
Amortization of CDI and other intangibles 1,539 1,709
Amortization expense related to acquired borrowings 58 114
Accretion income related to acquired loans (3,089) (4,115)
Amortization expense related to acquired deposits 60 316
Amortization of low-income housing partnerships 828 434
Provision for credit losses 1,387 200
Net unrealized gain on equity investments (456) (71)
Loans originated for sale (6,494) (859)
Proceeds from sale of loans originated for sale 6,240 437
Net (gain) loss on sale of loans originated for sale (122) 2
Net accretion of investment securities (766) (732)
Net gain on sale of investment securities available for sale (510)  
Net gain on sale of premises and equipment   (680)
Increase in cash surrender value of life insurance (497) (526)
Deferred income tax expense 1,110 1,877
Stock compensation, including tax effects and expenses 444 (188)
Net change in:    
Accrued interest receivable (358) (804)
Other assets (15,628) 2,408
Accrued interest payable 1,098 (64)
Other liabilities 7,726 (6,174)
Net cash provided by operating activities 8,296 9,071
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale 32,404  
Proceeds from repayments of investment securities:    
Available for sale 27,988 29,613
Held to maturity 1,469 1,472
Purchases of investment securities:    
Available for sale (19,687)  
Net (purchase) redemption of restricted equity securities (5,478) 944
Purchase of equity securities without readily determinable fair value (65)  
Net (increase) decrease in loans (120,800) 5,437
Purchases of premises and equipment (1,811) (499)
Proceeds from the sale of premises and equipment   3,696
Proceeds from bank owned life insurance 5,721  
Net cash (used in) provided by investing activities (80,259) 40,663
Cash flows from financing activities:    
Net decrease in deposits (8,760) (90,941)
Proceeds from long-term debt 20,000  
Repayment of long-term debt (19,633) (10,324)
Net proceeds (repayments) from short-term borrowings 146,600 (1,060)
Cash paid for shares withheld for taxes on compensation (370)  
Cash dividends paid (6,246) (6,158)
Net cash provided by (used in) financing activities 131,591 (108,483)
Net increase (decrease) in cash and cash equivalents 59,629 (58,749)
Cash and cash equivalents at beginning of period 268,984 135,851
Cash and cash equivalents at end of period 328,612 77,102
Supplemental disclosures:    
Interest 20,738 22,942
Income taxes 19 22
Noncash items:    
Origination of mortgage servicing rights $ 91 8
Initial recognition of right-of-use assets   2,782
Initial recognition of lease liability   $ 2,782