v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 48,612 $ 42,155
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 2,875 3,064
Accretion of acquired loans (310) 0
Provision for credit losses (3,600) 3,700
Stock-based compensation expense 1,993 1,723
Stock grants to directors for retainer fees 472 434
Proceeds from sales of mortgage loans held for sale 203,031 190,367
Origination of mortgage loans held for sale (210,916) (196,413)
Net gain from sales of mortgage loans held for sale (6,227) (5,699)
Net loss from sales and disposals of premises and equipment 85 0
Earnings on bank owned life insurance (1,441) (1,104)
Net loss (gain) on instruments designated at fair value and related derivatives (117) 210
Net change in:    
Accrued interest receivable (47) (278)
Other assets 20,480 (28,260)
Accrued interest payable and other liabilities (11,312) (20,680)
Net cash from (for) operating activities 43,578 (10,781)
Cash flows from investing activities    
Loan originations and payments, net (92,505) (97,017)
Purchases of securities available for sale (81,279) (104,552)
Purchases of Federal Reserve Bank stock (2,154) 0
Proceeds from maturities, calls and repayments of securities available for sale 52,808 28,180
Purchases of bank owned life insurance (10,000) 0
Proceeds from bank owned life insurance claims 186 0
Net purchases of premises and equipment and lease activity (1,266) (3,898)
Net cash for investing activities (134,210) (177,287)
Cash flows from financing activities    
Net increase (decrease) in time deposits (111,387) 51,158
Net increase (decrease) in all other deposits 123,177 (39,052)
Net increase (decrease) in securities sold under agreements to repurchase (14,821) 121,264
Payoffs and paydowns of Federal Home Loan Bank advances (50,899) (50,862)
Proceeds from Federal Home Loan Bank advances 30,000 20,000
Employee stock purchase plan 105 27
Dividend reinvestment plan 338 405
Payment of cash dividends to common shareholders (13,274) (11,810)
Net cash from (for) financing activities (41,761) 91,130
Net change in cash and cash equivalents (132,393) (96,938)
Cash and cash equivalents at beginning of period 473,324 393,010
Cash and cash equivalents at end of period 340,931 296,072
Supplemental disclosures of cash flows information    
Interest 61,676 64,263
Federal income taxes [1] (10,710) 18,342
Term Note [Member]    
Cash flows from financing activities    
Payments on term note $ (5,000) $ 0
[1] Federal income taxes include amounts paid for the acquisition of transferable federal income tax credits.