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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 26,500 $ 22,403
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,900 8,372
Amortization of intangible assets 1,824 1,981
Provision for Loan and Lease Losses 3,018 1,458
Stock compensation expense 1,266 1,176
Gain (loss) on sale of securities available-for-sale   6,801
Deferred income tax expense 628 1,801
Increase in cash surrender value of bank owned life insurance (1,591) (1,445)
Net losses from sale and write-downs of other real estate owned and other repossessed assets 569 12
Net gains from mortgage banking (950) (813)
Origination of loans held for sale (41,010) (28,585)
Proceeds from sales of loans held for sale 40,574 28,416
Net (gain) loss from sale/disposal of fixed assets (1,647) 56
Net change in:    
Accrued interest receivable (198) (919)
Accrued interest payable 250 1,458
Other assets 3,361 (11,885)
Other liabilities (3,478) (2,278)
Net cash provided by operating activities 36,016 28,009
Cash flows from investing activities:    
Proceeds from sales   152,775
Proceeds from maturities, calls and paydowns 36,816 32,404
Purchases (119,935) (94,424)
Proceeds from maturities, calls and paydowns 151,881 1,986
Proceeds from sales of other investments 348 2,669
Purchases of other investments (7,407) (944)
Purchases of bank owned life insurance (20,000)  
Net increase in loans and leases (279,709) (148,006)
Proceeds from sale of fixed assets 4,698 633
Purchases of premises and equipment (5,072) (4,016)
Proceeds from sale of other real estate owned 2,083 326
Net cash used in investing activities (236,297) (56,597)
Cash flows from financing activities:    
Net increase in deposits 54,693 169,521
Net (decrease) increase in securities sold under agreements to repurchase (1,082) 1,342
Proceeds from borrowings 155,000 26,000
Repayment of borrowings (160,500) (30,500)
Cash dividends paid (4,068) (4,071)
Issuance of common stock 68 165
Restricted shares withheld for taxes (220) (35)
Repurchases of common stock (2,967)  
Net cash provided by financing activities 40,924 162,422
Net change in cash and cash equivalents (159,357) 133,834
Cash and cash equivalents, beginning of period 352,271 266,424
Cash and cash equivalents, end of period 192,914 400,258
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 85,207 60,437
Net cash paid during the period for income taxes 6,724 9,406
Noncash investing and financing activities:    
Recognition of operating lease assets in exchange for lease liabilities 2,959 1,751
Acquisition of real estate through foreclosure 179 $ 272
Acquisition of other repossessed assets 3,896  
Financed sales of other repossessed assets $ 618