v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 72,685 $ 65,913
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 4,061 4,408
Accretion of acquired loans (414) 0
Provision for credit losses (2,900) 3,900
Stock-based compensation expense 2,992 2,652
Stock grants to directors for retainer fees 472 444
Proceeds from sales of mortgage loans held for sale 308,492 313,224
Origination of mortgage loans held for sale (304,306) (305,622)
Net gain from sales of mortgage loans held for sale (9,465) (9,211)
Net loss from sales and disposals of premises and equipment 91 0
Earnings on bank owned life insurance (2,230) (1,961)
Net loss (gain) on instruments designated at fair value and related derivatives (238) 155
Net change in:    
Accrued interest receivable (2,910) (1,445)
Other assets (13,808) (41,402)
Accrued interest payable and other liabilities 38,120 (18,731)
Net cash from operating activities 90,642 12,324
Cash flows from investing activities    
Loan originations and payments, net (129,598) (13,604)
Purchases of securities available for sale (123,476) (143,155)
Purchases of Federal Reserve Bank stock (2,154) 0
Proceeds from maturities, calls and repayments of securities available for sale 87,445 48,574
Purchases of bank owned life insurance (10,000) 0
Proceeds from bank owned life insurance claims 186 1,062
Net purchases of premises and equipment and lease activity (2,811) (6,537)
Net cash for investing activities (180,408) (113,660)
Cash flows from financing activities    
Net increase (decrease) in time deposits (174,139) 29,341
Net increase in all other deposits 501,745 84,106
Net increase (decrease) in securities sold under agreements to repurchase (34,838) 129,978
Payoffs and paydowns of Federal Home Loan Bank advances (60,899) (60,862)
Proceeds from Federal Home Loan Bank advances 40,000 20,000
Employee stock purchase plan 159 73
Dividend reinvestment plan 499 589
Payment of cash dividends to common shareholders (20,087) (17,880)
Net cash from financing activities 244,940 185,345
Net change in cash and cash equivalents 155,174 84,009
Cash and cash equivalents at beginning of period 473,324 393,010
Cash and cash equivalents at end of period 628,498 477,019
Supplemental disclosures of cash flows information    
Interest 91,378 98,010
Federal income taxes [1] (9,710) 33,083
Term Note [Member]    
Cash flows from financing activities    
Payments on term note $ (7,500) $ 0
[1] Federal income taxes include amounts paid for the acquisition of transferable federal income tax credits.