v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 42,967,000 $ 37,499,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net discount accretion (9,318,000) (11,949,000)
Depreciation and amortization expense 7,026,000 7,892,000
Provision for (recovery of) credit losses - loans 1,066,000 (345,000)
Recovery of credit losses - unfunded loan commitments (376,000) (100,000)
Share-based compensation 3,316,000 2,644,000
Gains on sales of loans originated for sale (429,000) (557,000)
Fair value adjustments on loans held for sale 73,000 (27,000)
Mortgage loans originated for sale (22,919,000) (27,812,000)
Proceeds from sales of loans originated for sale 25,726,000 29,804,000
Net gain on OREO and premises held for sale 0 (119,000)
Gain on disposal of premises and equipment 0 (18,000)
Deferred income tax expense 1,991,000 6,108,000
Investment securities gains (55,000) (21,000)
Payment of legal settlement (478,000) 0
Net (gains) losses on derivatives (131,000) 393,000
Income from life insurance (5,137,000) (2,600,000)
Decrease in accrued interest receivable and other assets 3,759,000 3,641,000
Increase (decrease) in accrued interest payable and other liabilities 697,000 (9,520,000)
Other, net 707,000 517,000
Net cash provided by operating activities 48,485,000 35,430,000
Cash flows from investing activities    
Maturities, repayments and calls of AFS securities 52,911,000 39,330,000
Purchases of AFS securities (51,525,000) (89,663,000)
Net purchases of restricted investments in bank stocks (712,000) (972,000)
Net (increase) decrease in loans (87,199,000) 10,596,000
Investment in limited partnerships (898,000) (1,059,000)
Purchases of bank premises and equipment (968,000) (3,105,000)
Proceeds from disposal of OREO and premises held for sale 0 2,182,000
Proceeds from disposal of premises and equipment 0 18,000
Purchases of bank owned life insurance (814,000) 0
Death benefit proceeds from life insurance contracts 4,427,000 0
Other 0 (15,000)
Net cash used in investing activities (84,778,000) (42,688,000)
Cash flows from financing activities    
Net increase (decrease) in deposits 91,149,000 (107,178,000)
Net increase in borrowings with original maturities less than 90 days 83,152,000 40,184,000
Payments on FHLB advances with original maturities greater than 90 days (100,000,000) (15,000,000)
Settlement of terminated derivatives 1,635,000 0
Payments on subordinated notes (31,000,000) 0
Dividends paid (11,750,000) (10,116,000)
Acquisition of treasury stock (429,000) (65,000)
Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting (1,485,000) (478,000)
Proceeds from issuance of employee stock purchase plan shares 75,000 66,000
Other 13,000 348,000
Net cash provided by (used in) financing activities 31,360,000 (92,239,000)
Net decrease in cash and cash equivalents (4,933,000) (99,497,000)
Cash and cash equivalents at beginning of period 149,774,000 248,874,000
Cash and cash equivalents at end of period 144,841,000 149,377,000
Cash paid during the period for:    
Interest 52,238,000 52,645,000
Income taxes 5,250,000 300,000
Supplemental schedule of noncash activities:    
OREO acquired in settlement of loans 1,055,000 0
Lease liabilities arising from obtaining ROU assets $ 0 $ 2,010,000