v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 33,250 $ 29,314
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,506 2,318
Amortization of right-of-use asset 3,291 3,335
Net gain on sale of other real estate owned (3) (40)
Writedown of other real estate owned 30 547
Provision for credit losses 1,600 950
Deferred tax expense 1,233 2,315
Net amortization of securities 366 477
Stock based compensation expense 950 616
Net gain on sale of bank premises and equipment (20) 0
Net unrealized holding gain on equity securities (844) 0
Decrease (Increase) in taxes receivable 3,143 (7,252)
Increase in interest receivable (982) (772)
(Decrease) increase in interest payable (220) 448
Increase in other assets (744) (1,215)
Decrease in operating lease liabilities (3,555) (3,839)
(Decrease) increase in accrued expenses and other liabilities (192) 1,130
Total adjustments 6,559 (982)
Net cash provided by operating activities 39,809 28,332
Cash flows from investing activities:    
Proceeds from sales, paydowns and calls of securities available for sale 28,961 24,364
Proceeds from paydowns of held to maturity securities 484 512
Purchases of securities available for sale (39,822) (54,770)
Proceeds from maturities of securities available for sale 15,000 60,050
Purchases of Federal Home Loan Bank stock (155) (94)
Net increase in loans (124,648) (58,376)
Proceeds from dispositions of other real estate owned 133 531
Proceeds from dispositions of bank premises and equipment 74 0
Purchases of bank premises and equipment (4,126) (6,665)
Net cash used in investing activities (124,099) (34,448)
Cash flows from financing activities:    
Net increase in deposits 124,149 99,331
Net change in short-term borrowings (11,672) (2,411)
Purchases of treasury stock (48,474) (5,333)
Dividends paid (13,501) (13,692)
Net cash provided by financing activities 50,502 77,895
Net (decrease) increase in cash and cash equivalents (33,788) 71,779
Cash and cash equivalents at beginning of period 730,427 641,812
Cash and cash equivalents at end of period 696,639 713,591
Cash paid during the year for:    
Interest paid 43,855 44,722
Income taxes paid 7,727 6,598
Other non cash items:    
Decrease in dividends payable (252) (33)
Change in unrealized gain (loss) on securities available for sale-gross of deferred taxes (2,685) 8,485
Change in deferred tax effect on unrealized (gain) loss on securities available for sale 685 (2,201)
Amortization of net actuarial gain and prior service cost on pension and postretirement plans (1,428) (1,027)
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans $ 371 $ 267