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 $ 44,904 $ 21,407
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of mortgage loans held for sale (127,908) (101,690)
Proceeds from the sale of mortgage loans 130,525 91,258
Gain on sale of mortgage loans, net of origination costs (1,518) (1,005)
Provision for credit losses 1,263 16,349
Depreciation and amortization expense 2,751 2,828
Investment securities amortization and accretion, net 795 884
Stock-based compensation expense 2,025 1,963
Amortization of core deposit intangible assets 2,708 2,946
Purchase accounting accretion, net (8,355) (9,981)
Deferred income tax expense (benefit) 2,565 (1,359)
(Increase) decrease in other assets (2,642) 1,501
Net increase (decrease) in derivative collateral received from counterparties 6,330 (6,870)
Decrease in other liabilities (2,282) (11,165)
Net cash provided by operating activities 51,161 7,066
Investing Activities    
Cash received in acquisition of Northway Financial, Inc. 0 48,261
Proceeds from sales of available-for-sale debt securities 0 56,432
Purchase of available-for-sale debt securities (27,428) (120,851)
Proceeds from maturities of available-for-sale debt securities 64,222 48,995
Proceeds from maturities of held-to-maturity securities 24,644 16,298
Purchase of held-to-maturity securities 0 5,000
Net increase in loans (35,808) (30,659)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (8,624) (18,265)
Proceeds from sale of Federal Home Loan Bank stock 11,688 16,485
Purchase of premises and equipment 3,026 3,247
Payment to Acquire Life Insurance Policy, Investing Activities 566 0
Recoveries of previously charged-off loans 398 299
Net cash provided by investing activities 26,632 8,748
Financing Activities    
Net increase (decrease) in deposits 17,323 (90,241)
Net (repayments) proceeds from borrowings less than 90 days (73,394) 33,247
Repayments of Federal Home Loan Bank long-term advances 0 (45,000)
Common stock repurchases 3,963 0
Issuance of restricted stock, net of repurchase for tax withholdings (841) (513)
Cash dividends paid on common stock 14,262 14,212
Finance lease payments (248) (243)
Net cash used in financing activities (75,385) (116,962)
Net increase (decrease) in cash and cash equivalents 2,408 (101,148)
Cash and cash equivalents at beginning of period 97,492 214,963
Cash and cash equivalents at end of period 99,900 113,815
Supplemental information    
Interest paid 52,748 59,203
Income taxes paid 11,278 983
Cash dividends declared, not paid 7,118 7,125
Change in fair value hedges presented within residential real estate loans and other assets (2,062) 2,965
Assets acquired in Northway Financial, Inc. acquisition, excluding cash received 0 1,162,736
Liabilities assumed in Northway Financial, Inc. acquisition 0 1,116,771
Common stock issued for Northway Financial, Inc. acquisition $ 0 $ 96,490