v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 34,540 $ 24,064
Adjustments to reconcile net income to net cash provided by operating activities    
Provision (recovery) for credit losses 861 36
Depreciation and amortization of premises and equipment 1,774 1,998
Accretion of discounts on investments (18,013) (473)
Amortization of intangible assets 1,687 1,050
Non-cash accretion on acquired loans (861) (986)
Equity-based compensation expense 1,443 1,326
Net (gain) loss on sale of premises and equipment (431) 4
Net loss on sale of other real estate owned 0 93
Net gain on sale of securities (208) 0
Net gain on sale of equity investment (10,384) 0
(Increase) decrease in accrued interest receivable (624) 420
(Increase) decrease in other assets 4,338 0
Increase (decrease) in other liabilities (6,704) (4,100)
Net cash provided by operating activities 7,418 23,432
Investing activities    
Proceeds from sale of securities available-for-sale 327,130 0
Proceeds from maturities, prepayments, and calls of securities available-for-sale 281,441 90,453
Proceeds from the sale of equity investment 13,916 0
Payments to acquire securities available-for-sale (527,190) (50,105)
Net decrease in loans 24,832 61,744
Purchase of FHLB stock (34) 0
Proceeds from the redemption of FHLB stock 192 29
Proceeds from bank owned life insurance 1,232 0
Cash provided by (used in) divestitures and acquisitions, net 28,545 0
Proceeds from sale of premises and equipment 476 0
Payments to acquire premises and equipment (2,084) (1,364)
Proceeds from sale of other real estate owned 0 164
Net cash provided by investing activities 148,456 100,921
Financing activities    
Increase (decrease) in noninterest-bearing deposits, net 20,542 (9,822)
Decrease in interest-bearing deposits, net (47,004) (46,061)
Increase in securities sold under agreements to repurchase, net 396 110
Proceeds from stock options exercised 317 120
Payments for repurchase of common stock (20,332) (1,851)
Payments of common and special dividends (30,120) (49,246)
Net cash used in financing activities (76,201) (106,750)
Net increase in cash and cash equivalents 79,673 17,603
Cash and cash equivalents at beginning of period 512,240 377,454
Cash and cash equivalents at end of period 591,913 395,057
Supplemental disclosure -- cash flow information    
Cash paid for interest 9,193 7,976
Cash paid for income taxes 11,685 7,520
Supplemental transactions -- noncash items    
Transfer of loans to other real estate owned 52 191
Loans originated to finance other real estate owned 0 0
(Decrease) increase in other comprehensive income (loss), net of taxes (683) 2,024
Assets acquired (excluding cash and cash equivalents) 365,261 0
Liabilities assumed $ 360,459 $ 0