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 $ 34,077 $ 21,771
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization of premises and equipment 1,361 1,400
Net accretion of securities, loans, deposits, and other (2,147) (2,679)
Amortization of investment in affordable housing tax credits 1,759 1,524
Amortization of intangible assets 1,172 1,405
Amortization of right-of-use asset 3,910 3,831
Change in operating lease liabilities (3,925) (3,727)
Provision for credit losses 300 9,758
Stock-based compensation, net 1,375 1,450
Deferred tax expense 1,714 1,243
Gain on sale of loans (1,377) (699)
Gain on OREO (669) 0
Gain on sale of fixed assets (2,658) (42)
Increase in cash surrender value of life insurance (1,318) (1,241)
Loans originated for sale, net (4,859) (6,460)
Proceeds from loans sold 21,100 14,444
Other items (8,916) (10,432)
Net cash provided by operating activities 40,899 31,546
Investing activities    
Purchases (145,356) (216,805)
Maturities, repayments and calls 161,047 236,976
Securities held to maturity:    
Maturities, repayments and calls 0 1,000
Purchase of other equity securities, net (10,047) (188)
Net increase of investment in qualified affordable housing projects (2,772) (1,836)
Net increase in loans (158,911) (305,571)
Proceeds from sales of loans originally classified as HFI 42,198 35,120
Proceeds from sales of OREO 5,569 7,526
Proceeds from sales of fixed assets 7,407 42
Other investing activities, net (353) (641)
Net cash used in investing activities (101,218) (244,377)
Financing activities    
Net increase in demand deposits and savings accounts 311,668 46,139
Net (decrease) increase in time deposits (266,832) 236,456
Proceeds from FHLB advances 200,000 170,000
Repayments of FHLB advances (150,000) (240,000)
Redemptions of long-term debt (40,000) 0
Cash dividends paid (8,261) (8,502)
Restricted stock units vesting (466) (265)
Common stock repurchased, net of repurchase costs (8,962) (13,983)
Exercise of stock options 1,145 171
Net cash provided by financing activities 38,292 190,016
Net decrease in cash and cash equivalents (22,027) (22,815)
Cash and cash equivalents at beginning of period 212,317 257,745
Cash and cash equivalents at end of period 190,290 234,930
Supplemental disclosure of cash flow information    
Interest paid 83,374 80,351
Taxes paid 5,069 5,163
Non-cash investing and financing activities:    
Transfer from loans to other real estate owned 19,391 12,666
Loans transferred to held for sale, net 54,995 31,911
Additions to servicing assets 388 156
Recognition of operating lease right-of-use assets (1,638) (88)
Recognition of operating lease liabilities $ 1,638 $ 88