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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 22,723 $ 23,547
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 0 1,500
Depreciation and amortization 698 596
Net amortization of securities premiums and discounts (320) 33
Increase in cash surrender value of BOLI (595) (444)
Gain on BOLI death benefit 0 (4,346)
Decrease in deferred income taxes, net 3,296 3,933
Loss on sale of securities available-for-sale 0 5,686
Net changes in:    
Other assets 8,502 6,307
Other liabilities 477 4,864
Net cash provided by operating activities 34,781 41,676
Cash flows from investing activities:    
Net change in loans and leases held-for-investment (41,541) 70,927
Purchase of available-for-sale securities (63,764) (3,585)
Purchase of held-to-maturity securities (1,130) (1,350)
Proceeds from sales, maturities, calls and pay downs of available-for-sale securities 4,318 40,348
Proceeds from maturities, calls and pay downs of held-to-maturity securities 11,743 10,817
Purchase of premises and equipment (410) (1,543)
Purchase of other investments (2,285) (2,008)
Proceeds from bank-owned life insurance 0 11,752
Net cash (used in)/ provided by investing activities (93,069) 125,358
Cash flows from financing activities:    
Net increase/(decrease) in deposits 291,494 (220,107)
Federal Home Loan Bank advances 100,000 0
Net cash used in share repurchases of common stock (5,451) (5,591)
Net cash provided by (used in) financing activities 386,043 (225,698)
Net change in cash and cash equivalents 327,755 (58,664)
Cash and cash equivalents, beginning of period 410,642 588,257
Cash and cash equivalents, end of period 738,397 529,593
Supplemental disclosures of cash flow information:    
Cash paid for interest 12,852 3,389
Income taxes paid 0 1
Supplemental disclosures of non-cash transactions:    
Net change in unrealized gain/(losses) on securities available-for-sale $ 2,600 $ (8,047)