v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 33,072 $ 34,651
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,703 654
Reversal of provision for unfunded commitments 0 (970)
Depreciation 2,633 2,473
Amortization and accretion of purchase accounting valuations and intangibles 1,235 1,895
Losses on equity investments 70 188
Federal Home Loan Bank stock dividends (76) (305)
Net (accretion) amortization of discount on investments (300) 166
Amortization of subordinated debt issuance cost 163 162
Gain on loans sold, net (613) (635)
Proceeds, including principal payments, from loans held for sale 79,245 45,095
Originations of loans held for sale (77,886) (45,870)
Loss (gain) on sale of assets, net 1 (7)
Non-cash compensation 3,108 2,443
Deferred income tax (benefit) expense (621) 198
Decrease in accrued interest receivable and other assets 2,547 1,585
Increase in cash surrender value of bank-owned life insurance (869) (848)
Increase in accrued interest payable and other liabilities 7,904 1,939
Net cash provided by operating activities 52,316 42,814
Cash flows from investing activities:    
Purchases of securities available for sale (101,558) (11,652)
Proceeds from maturities, prepayments and calls on securities available for sale 64,695 45,448
Proceeds from maturities, prepayments and calls on securities held to maturity 1,065 0
(Increase) decrease in loans, net (48,179) 8,453
Proceeds from sale of foreclosed assets 4,217 2,588
Purchases of office properties and equipment (5,106) (5,552)
Proceeds from sale of office properties and equipment 0 187
Purchase of Federal Home Loan Bank stock 0 (1,582)
Proceeds from redemption of Federal Home Loan Bank stock 0 7,987
Net cash (used in) provided by investing activities (84,866) 45,877
Cash flows from financing activities:    
Increase in deposits, net 80,689 194,801
Borrowings of Federal Home Loan Bank advances 0 3,598,875
Repayments of Federal Home Loan Bank advances (3,024) (3,771,362)
Proceeds from exercise of stock options 11 38
Issuance of stock under incentive plans, net 155 608
Dividends paid to shareholders (7,377) (6,562)
Purchase of Company’s common stock (456) (14,313)
Net cash provided by financing activities 69,998 2,085
Net change in cash and cash equivalents 37,448 90,776
Cash and cash equivalents, beginning 141,605 98,548
Cash and cash equivalents, ending 179,053 189,324
Supplementary cash flow information:    
Interest paid on deposits and borrowed funds 37,323 44,680
Income taxes paid $ 9,845 $ 10,240