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 $ 42,169 $ 34,410
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,684 3,825
Net accretion of discounts on securities (4,229) (2,235)
Provision for credit losses 5,347 5,490
Share-based compensation 2,173 1,460
Deferred income tax expense 3,698 843
Proceeds from sale of loans held for sale 22,198 16,049
Originations of loans held for sale (21,029) (15,868)
Income on company owned life insurance (5,656) (5,742)
Net gain on sale of loans held for sale (306) (257)
Net gain on investment securities (328) (3)
Net loss on other assets 454 0
Decrease in other assets 3,187 15,854
Decrease in other liabilities (5,013) (49,546)
Net cash provided by operating activities 46,349 4,280
Cash flows from investing activities:    
Purchases of available for sale securities (267,583) (93,434)
Purchases of held to maturity securities (1,229) (2,045)
Proceeds from principal payments, maturities and calls on available for sale securities 259,199 40,833
Proceeds from principal payments, maturities and calls on held to maturity securities 6,637 25,868
Proceeds from sales of securities available for sale 18,379 64,955
Net increase in loans (101,476) (63,217)
Purchase of company owned life insurance (29) (72,905)
Proceeds received from surrender of company owned life insurance 0 73,958
Purchases of premises and equipment (1,498) (2,412)
Net cash used in investing activities (87,600) (28,399)
Cash flows from financing activities:    
Net increase in deposits 93,117 51,283
Net increase in short-term borrowings 73,000 2,000
Repayment of long-term borrowings (115,000) (10,000)
Purchases of common stock for treasury (6,195) (481)
Cash dividends paid to common and preferred shareholders (13,248) (12,970)
Net cash provided by financing activities 31,674 29,832
Net (decrease) increase in cash and cash equivalents (9,577) 5,713
Cash and cash equivalents, beginning of period 108,751 87,321
Cash and cash equivalents, end of period $ 99,174 $ 93,034