v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 43,836 $ 33,567
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes 5,992 6,894
Provision for (recovery of) credit losses (4,388) 863
Depreciation and amortization 6,662 7,663
Amortization and accretion of premiums/discounts on investment securities 55 377
Amortization of operating lease right-of-use assets 3,126 (72)
Share-based compensation expense 1,679 1,247
Purchase accounting accretion, net (6,858) (17,438)
Originations of loans held for sale (198,047) (113,267)
Proceeds on loans held for sale 197,936 115,851
Realized loss (gain) on mortgage loans sold (4,596) (4,405)
Servicing rights capitalized upon sale of mortgage loans (56) (101)
(Increase) in value of bank-owned life insurance (514) (370)
Realized loss (gain) on sale of premises and equipment (632) 84
Realized loss (gain) on derivative instruments (40) (484)
Realized loss (gain) on sale of foreclosed assets (15) 21
Change in fair value of mortgage servicing rights (583) 835
Net change in:    
Accrued interest receivable 1,529 (809)
Other assets (1,323) (2,247)
Accrued expenses and other liabilities 2,654 (9,800)
Net cash provided (used) by operating activities 46,417 18,409
Investing Activities    
Proceeds from sales of trading investment securities 3,199 5,450
Purchases of trading investment securities (1,806) (3,729)
Proceeds from sales or calls of investment securities available-for-sale 3,000 19,000
Proceeds from maturities of investment securities available-for-sale 34,838 46,759
Purchases of investment securities available-for-sale (62,548) 0
Proceeds from calls of investment securities held-to-maturity 340 146
Proceeds from maturities and paydowns of investment securities held-to-maturity 11,244 11,262
Proceeds from sale of non-mortgage loans held for sale 0 12,331
Net (increase) decrease in loans 1,397 (102,662)
Purchases of FHLB stock (64,685) (108,715)
Sales of FHLB stock 63,049 104,211
Purchases of BOLI (2,073) (2,210)
Purchases of premises and equipment (2,713) (5,185)
Proceeds from sales of foreclosed assets 390 484
Net cash provided (used) by investing activities (16,368) (22,858)
Financing Activities    
Net increase (decrease) in deposits (106) (40,942)
Net increase (decrease) in short-term borrowings with maturities of three months or less 36,200 75,640
Cash dividends paid on common stock (10,681) (10,408)
Repurchase of common stock (13,642) (176)
Net cash provided (used) by financing activities 11,771 24,114
Net change in cash and cash equivalents 41,820 19,665
Cash and cash equivalents at beginning of period 67,192 61,239
Cash and cash equivalents at end of period 109,012 80,904
Supplemental Cash Flow Disclosures    
Interest paid 45,642 57,569
Income taxes paid 115 501
Cash dividends declared, not paid 5,496 5,336
Supplemental Disclosures of Noncash Investing and Financing Activities    
Loan collateral transferred to foreclosed assets (9,638) (1,235)
Right-of-use assets obtained in exchange for new operating lease liabilities, net 5,282 66
Loans transferred to non-mortgage loans held for sale $ 0 $ 62,491