v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net earnings $ 22,261 $ 16,397
Adjustments to reconcile consolidated net earnings to net cash provided by operating activities    
Provision for credit losses 2,685 1,840
Deferred income tax benefit (601) (391)
Depreciation and amortization of premises and equipment 1,044 1,098
Loss on sale of fixed assets 3 6
Net amortization (accretion) of securities (114) 214
Net realized gain on sale of securities 0 (13)
Gain on sale of loans (726) (731)
Share-based compensation expense 387 278
Loss (gain) on sale of other assets 2 (2)
Premium on credit card portfolio sale (1,127) 0
Income on BOLI and annuity contracts (685) (603)
Mortgage loans originated for resale (21,728) (13,136)
Proceeds from sale of mortgage loans 22,333 13,705
Right of use assets obtained for lease liabilities 0 3
Gain on lease modification 0 (46)
Amortization of core deposit intangibles 11 0
Amortization of mortgage servicing rights 103 74
Change in    
Accrued interest receivable (20) (471)
Other assets (3,425) (3,410)
Accrued interest payable (2,626) (339)
Other liabilities 7,862 8,000
TOTAL ADJUSTMENTS 3,378 6,076
NET CASH PROVIDED BY OPERATING ACTIVITIES 25,639 22,473
INVESTING ACTIVITIES    
Purchases (105,953) (16,769)
Sales 0 17,882
Maturities, prepayments and calls 25,036 12,119
Purchases of restricted equity securities (51) (50)
Proceeds from sale of credit card portfolio 7,803  
Net increase in loans (49,786) (89,595)
Purchase of buildings, leasehold improvements, and equipment (1,267) (866)
Proceeds from sale of premises and equipment 0 9
Proceeds from sale of other assets 0 6
Purchase of life insurance and annuity contracts 0 (5,000)
Redemption of annuity contracts 353 359
NET CASH USED IN INVESTING ACTIVITIES (123,865) (81,905)
FINANCING ACTIVITIES    
Net change in deposits - non-maturing 62,494 97,425
Net change in deposits - time 30,794 33,525
Change in escrow balances 784 6,941
Repayment of finance lease obligation (36) (21)
Issuance of common stock related to exercise of stock options 101 53
Repurchase of common stock (28) 0
Cash dividends paid on common stock (5,592) (3,436)
NET CASH PROVIDED BY FINANCING ACTIVITIES 88,517 134,487
NET CHANGE IN CASH AND CASH EQUIVALENTS (9,709) 75,055
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 367,353 247,589
CASH AND CASH EQUIVALENTS - END OF PERIOD 357,644 322,644
Supplemental disclosure of cash flow information:    
Interest 33,051 32,262
Federal 0  
State 1,492  
Total taxes 1,492 1,393
Non-cash investing and financing activities:    
Change in fair value of securities available-for-sale, net of taxes of $1,492 and $(4,726) for the three months ended March 31, 2026 and 2025, respectively (4,220) 13,360
Non-cash transfers from loans to other assets 2 7
Cash and cash equivalents summary:    
Interest bearing deposits 317,559 289,295
Federal funds sold 9,765 9,783
Cash and due from banks 30,320 23,566
Cash and cash equivalents - end of period $ 357,644 $ 322,644