v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income $ 28,091 $ 30,952
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of net discounts and deferred loan fees (7,882) (11,718)
Depreciation on premises and equipment 714 1,006
Intangible asset amortization 1,600 1,896
Amortization of discounts on debt securities (1,283) (508)
Gain on sale of loans 0 (577)
Loans originated for sale 0 (8,955)
Proceeds from sales of and principal collected on loans held for sale 0 9,569
Provision for (reversal of) credit losses 333 (4,410)
Deferred income tax expense 4,523 7,952
Stock-based compensation 2,707 3,005
Income from bank owned life insurance (1,014) (966)
Loss on sale of other real estate owned 0 862
Valuation allowance on loans held for sale 266 0
Net change in other items (4,703) (7,703)
Net cash provided by operating activities 23,352 20,405
INVESTING ACTIVITIES    
Proceeds from bank owned life insurance death benefits 877 1,572
Proceeds from maturities and paydowns of debt securities available for sale 15,948 24,379
Purchases of debt securities available for sale (93,780) (65,735)
Purchases of restricted stock (9) (29)
Net distributions (contributions) of other stock investments 704 (750)
Net (funding) repayment of loans (52,743) 152,904
Proceeds from sale of loans held for investment 0 13,500
Proceeds from sale of other real estate owned 0 1,421
Purchases of premises and equipment (752) (139)
Net cash (used in) provided by investing activities (129,755) 127,123
FINANCING ACTIVITIES    
Net decrease in deposits (11,475) (86,444)
Proceeds from Federal Home Loan Bank advances 10,000 0
Repayment of Federal Home Loan Bank advances (10,000) 0
Repayment of borrowings 0 (18,000)
Proceeds from exercise of stock options 316 101
Repurchase of shares in settlement of restricted stock units (1,495) (1,210)
Repurchase of common stock under authorized stock repurchase program (9,408) 0
Common stock dividends (6,497) 0
Net cash used in financing activities (28,559) (105,553)
Net change in cash and cash equivalents (134,962) 41,975
Cash and cash equivalents at beginning of period 399,913 388,162
Cash and cash equivalents at end of period 264,951 430,137
Supplemental Disclosures of Cash Flow Information:    
Interest paid 22,545 31,058
Taxes paid 7,548 9,177
Lease liability arising from obtaining right-of-use assets 1,461 541
Loans held for sale transferred to held for investment   0
Loans transferred to other real estate owned 8,613 0
Goodwill adjustments $ 0 $ (853)