v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net Income (Loss) $ 44,352 $ 36,986
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net (288) 225
Provision for credit losses 6,969 6,800
Depreciation, amortization and accretion, net 2,897 2,824
Share-based compensation 2,266 2,161
Impairment of tax credit investments 845 60
Amortization of tax credit investments 6,253 4,104
Bank-owned life insurance policy income (2,299) (2,016)
Origination of loans for sale (72,363) (113,272)
Sale of loans originated for sale 72,955 115,030
Gain on sale of loans originated for sale (592) (1,742)
Net gain on repossessed assets 0 27
Return on investment in limited partnerships 1,384 1,334
Excess tax benefit from share-based compensation 370 233
Net payments on operating lease liabilities (1,214) (1,184)
Net (decrease) increase in accrued interest receivable and other assets (36,853) 17,263
Net decrease (increase) in accrued interest payable and other liabilities 27,662 (23,279)
Net cash provided by operating activities 52,344 45,554
Investing activities    
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities 59,900 42,416
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities 660 1,151
Purchases of available-for-sale securities (54,814) (102,813)
Proceeds from sale of repossessed assets 0 24
Net increase in loans and leases (287,539) (227,513)
Investments in limited partnerships (2,065) (3,029)
Returns of investments in limited partnerships 25 229
Investment in tax credit investments (11,218) (12,673)
Distributions from tax credit investments 140 26
Proceeds from sale of tax credit investments 69 2,483
Investment in Federal Home Loan Bank stock (31,706) (20,634)
Proceeds from the sale of Federal Home Loan Bank stock 34,667 22,645
Purchases of leasehold improvements and equipment, net (599) (556)
Proceeds from sale of leasehold improvements and equipment 42 0
Purchases of bank owned life insurance policies (25) (24,500)
Proceeds from bank owned life insurance claim 0 471
Net cash used in investing activities (292,463) (322,273)
Financing activities    
Net increase in deposits 369,358 225,931
Repayment of Federal Home Loan Bank advances (1,343,733) (1,040,261)
Proceeds from Federal Home Loan Bank advances 1,278,986 986,812
Net increase in long-term borrowed funds 89 77
Cash dividends paid (8,696) (7,271)
Preferred stock dividends paid (656) (656)
Proceeds from issuance of common stock under ESPP 101 108
Purchase of treasury stock (2,538) (1,374)
Net cash provided by financing activities 292,911 163,366
Net increase (decrease) in cash and cash equivalents 52,792 (113,353)
Cash and cash equivalents at the beginning of the period 39,485 157,702
Cash and cash equivalents at the end of the period 92,277 44,349
Cash paid during the period for:    
Interest paid on deposits and borrowings 81,492 82,646
Net income taxes paid 4,750 1,613
Non-cash investing and financing activities:    
Transfer of loans held for sale to loans and leases receivable 18,849 0
Right-of-use assets obtained in exchange for lease liabilities $ 0 $ 712