v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 41,547 $ 36,031
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 6,735 9,159
Depreciation and amortization of premises and equipment 3,449 3,563
Loss on disposal of premises and equipment 0 10
Non-cash lease expense 25 87
Cash flows from operating leases (2,494) (2,559)
Amortization of mortgage servicing rights 478 397
Net accretion of discount on investment securities (718) (543)
Share-based compensation 1,622 1,777
Net gain on sales of residential mortgage loans (402) (468)
Proceeds from sales of loans held for sale 18,944 37,653
Originations of loans held for sale (19,992) (31,523)
Equity in the earnings of unconsolidated entities (39) (33)
Distributions from unconsolidated entities 82 13
Net increase in cash surrender value of bank-owned life insurance (3,399) (2,757)
Deferred income tax (783) (3,238)
Net tax expense from share-based compensation 0 137
Net change in other assets and liabilities 16,172 7,805
Net cash provided by operating activities 61,227 55,511
Cash flows from investing activities:    
Purchases of investment securities available-for-sale (125,068) (50,592)
Proceeds from maturities, prepayments and calls of investment securities available-for-sale 33,140 41,623
Proceeds from maturities, prepayments and calls of investment securities held-to-maturity 19,996 19,370
Loan payments, net 14,101 99,776
Purchases of loan portfolios (39,319) (65,463)
Purchases of bank-owned life insurance (1,018) (726)
Proceeds from bank-owned life insurance death benefits 0 2,060
Purchases of premises, equipment and land (2,989) (2,888)
Contributions to unconsolidated entities (4,203) (650)
Net redemption (purchases) of FRB and FHLB stock 1,092 (17,887)
Net cash (used in) provided by investing activities (104,268) 24,623
Cash flows from financing activities:    
Net increase (decrease) in deposits 85,990 (99,022)
Repayments of long-term debt 0 (25,000)
Cash dividends paid on common stock (15,141) (14,614)
Repurchases of common stock and other related costs (21,794) (4,671)
Common shares withheld to satisfy tax obligations related to share‑based compensation (1,396) (798)
Proceeds from sale of Visa Class B common stock 0 0
Net cash provided by (used in) financing activities 47,659 (144,105)
Net increase (decrease) in cash and cash equivalents 4,618 (63,971)
Cash and cash equivalents at beginning of period 378,653 380,941
Cash and cash equivalents at end of period 383,271 316,970
Cash paid during the period for:    
Interest expense paid 30,569 39,127
Income taxes paid, net 3,652 2,222
Supplemental disclosure of non-cash information:    
Net reclassification of loans to other real estate owned 924 0
Lease liabilities arising from obtaining right-of-use lease assets 499 1,888
Amortization of unrealized losses on investment securities transferred to held-to-maturity at fair value $ 3,217 $ 3,325