v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net Income $ 37,548 $ 32,696
Provision for credit losses 10,733 5,736
Deferred tax expense 3,734 1,753
Depreciation and amortization 2,066 2,153
Net gains on securities and other assets (4,367) (2,379)
Net (accretion) amortization of premiums and discounts on securities (19) 43
Income from increase in cash surrender value of bank owned life insurance (1,796) (1,502)
Decrease (increase) in interest receivable 157 (1,023)
Mortgage loans originated for sale (68,543) (51,227)
Proceeds from sale of mortgage loans 83,899 63,307
(Decrease) increase in interest payable (694) 172
Increase in income taxes payable 5,751 6,354
Increase (Decrease) in Other Operating Assets and Liabilities, Net (18,357) 197
Net cash provided by operating activities 86,826 55,886
Investing Activities    
Payments to Acquire Held-to-maturity Securities (79,505) (127,860)
Proceeds from maturities and redemptions of available-for-sale securities 0 48,519
Proceeds from maturities and redemptions of available-for-sale securities 78,422 48,846
Payments to Acquire Debt Securities, Available-for-Sale (111,741) (86,412)
Proceeds from Sale of Equity Securities, FV-NI 0 5,146
Proceeds from sale and maturity of held-to-maturity securities 21,528 14,333
Purchases of FHLB stock (4,826) (11,643)
Proceeds from the redemption of FHLB stock 14,175 10,014
Proceeds from Life Insurance Policy 33 289
Proceeds from Sale of Loans Receivable 226,987 17,331
Proceeds from sale of other assets 2,988 1,134
Net decrease (increase) in loans and leases 67,106 (128,232)
Payments for Purchase of Other Assets (4,362) (5,026)
Net cash provided by (used in) investing activities 210,805 (213,561)
Financing Activities    
Net decrease in other short-term borrowings (125,108) (2,624)
Net increase in deposits 158,941 183,639
Repayments of other long-term debt (129,554) (197)
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Repayment and Penalties (511) 0
Repayments of Long-term Capital Lease Obligations (159) (149)
Payments of Dividends (13,849) (13,238)
Purchase of treasury stock (24,813) (1,807)
Net cash (used in) provided by financing activities (135,053) 165,624
Net increase in cash and cash equivalents 162,578 7,949
Cash and cash equivalents at January 1 180,362 133,409
Cash and cash equivalents at March 31 $ 342,940 $ 141,358