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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 42,155 $ 40,348
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization/accretion 3,064 5,480
Provision for credit losses 3,700 4,800
Stock-based compensation expense 1,723 1,633
Stock grants to directors for retainer fees 434 423
Proceeds from sales of mortgage loans held for sale 190,367 147,849
Origination of mortgage loans held for sale (196,413) (146,731)
Net gain from sales of mortgage loans held for sale (5,699) (4,637)
Net gain from sales and valuation write-downs of foreclosed assets 0 (290)
Net gain from sale and write-down of former bank premises 0 (78)
Earnings on bank owned life insurance (1,104) (1,609)
Net (gain) loss on instruments designated at fair value and related derivatives 210 (104)
Net change in:    
Accrued interest receivable (278) (1,169)
Other assets (28,260) (16,679)
Accrued interest payable and other liabilities (20,680) 20,113
Net cash from (for) operating activities (10,781) 49,349
Cash flows from investing activities    
Loan originations and payments, net (97,017) (133,793)
Purchases of securities available for sale (104,552) (57,592)
Proceeds from maturities, calls and repayments of securities available for sale 28,180 23,185
Proceeds from sales of foreclosed assets 0 290
Proceeds from sales of fomer bank premises 0 278
Proceeds from bank owned life insurance claims 0 1,357
Net purchases of premises and equipment and lease activity (3,898) (2,330)
Net cash for investing activities (177,287) (168,605)
Cash flows from financing activities    
Net increase in time deposits 51,158 71,902
Net increase (decrease) in all other deposits (39,052) 173,754
Net increase (decrease) in securities sold under agreements to repurchase 121,264 (7,836)
Payoffs and paydowns of Federal Home Loan Bank advances (50,862) (50,827)
Proceeds from Federal Home Loan Bank advances 20,000 10,000
Employee stock purchase plan 27 24
Dividend reinvestment plan 405 405
Payment of cash dividends to common shareholders (11,810) (11,070)
Net cash from financing activities 91,130 186,352
Net change in cash and cash equivalents (96,938) 67,096
Cash and cash equivalents at beginning of period 393,010 130,533
Cash and cash equivalents at end of period 296,072 197,629
Supplemental disclosures of cash flows information    
Interest 64,263 59,477
Federal income tax $ 0 $ 11,600