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 $ 29,552 $ 31,965
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,838 1,610
Amortization of right-of-use lease asset 373 437
Amortization of net deferred loan fees (251) (307)
Amortization of debt issuance costs 204 31
Amortization of CDI and other intangibles 3,078 3,419
Amortization expense related to acquired borrowings 110 230
Accretion income related to acquired loans (6,463) (8,463)
Amortization expense related to acquired deposits 111 528
Amortization of low-income housing partnerships 1,855 868
Provision (benefit) for credit losses 4,492 (39)
Net unrealized gain on equity investments (385) (64)
Net (gain) loss on sale of other real estate owned (14) 5
Net gain on sale of equity securities (104)  
Valuation allowance on other real estate 120  
Loans originated for sale (9,061) (2,050)
Proceeds from sale of loans originated for sale 9,330 1,504
Net gain on sale of loans originated for sale (182) (1)
Net accretion of investment securities (1,662) (1,936)
Net gain on sale of investment securities available for sale (510)  
Net gain on sale of premises and equipment (271) (680)
Increase in cash surrender value of life insurance (997) (1,061)
Gain from bank owned life insurance settlement (280) (118)
Deferred income tax expense 919 2,449
Stock compensation, including tax effects and expenses 655 (207)
Net change in:    
Accrued interest receivable (137) (222)
Other assets (16,069) 2,170
Accrued interest payable (2,065) (863)
Other liabilities 7,976 (6,241)
Net cash provided by operating activities 22,162 22,964
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale 32,404  
Proceeds from sales of equity investments 340  
Proceeds from repayments of investment securities:    
Available for sale 45,724 58,794
Held to maturity 3,277 2,997
Purchases of investment securities:    
Available for sale (22,952) (28,229)
Net purchase of restricted equity securities (1,874) (1,491)
(Purchase) redemption of equity securities without readily determinable fair value (92) 22
Net (increase) decrease in loans (230,398) 3,903
Purchases of premises and equipment (3,517) (5,890)
Proceeds from the sale of premises and equipment 733 3,696
Proceeds from bank owned life insurance 6,790 968
Proceeds from sale of other real estate owned 235  
Net cash (used in) provided by investing activities (169,330) 34,770
Cash flows from financing activities:    
Increase (decrease) in deposits 74,672 (120,731)
Proceeds from long-term debt 45,045 15,284
Repayment of long-term debt (24,981) (10,653)
Net proceeds from short-term borrowings 52,610 60,440
Proceeds from the issuance of subordinated debt, net of issuance costs   83,133
Repayment of subordinated debt   (33,000)
Cash paid for shares withheld for taxes on compensation (416)  
Cash dividends paid (12,496) (12,319)
Net cash provided by (used in) financing activities 134,434 (17,846)
Net (decrease) increase in cash and cash equivalents (12,734) 39,888
Cash and cash equivalents at beginning of period 268,984 135,851
Cash and cash equivalents at end of period 256,250 175,739
Supplemental disclosures:    
Interest 46,050 46,879
Income taxes 4,178 3,683
Noncash items:    
Origination of mortgage servicing rights 135 19
Initial recognition of right-of-use assets 183 2,786
Initial recognition of lease liability $ 183 $ 2,786