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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 $ 66,611 $ 66,889
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 0 7,057
Depreciation and amortization 2,191 1,833
Net (accretion) amortization of securities premiums and discounts (1,132) 11
Increase in cash surrender value of BOLI (1,803) (1,462)
Gain on BOLI death benefit 0 (4,346)
Decrease/(increase) in deferred income taxes, net 5,829 (1,994)
(Gain)/Loss on sale of securities available-for-sale (743) 5,686
Net changes in:    
Other assets (3,146) 2,368
Other liabilities 22,728 18,297
Net cash provided by operating activities 90,535 94,339
Cash flows from investing activities:    
Net change in loans and leases held for investment (49,540) (59,022)
Purchase of available-for-sale securities (300,456) (4,515)
Purchase of held-to-maturity securities (3,043) (3,814)
Proceeds from sales, maturities, calls and pay downs of available-for-sale securities 87,693 46,751
Proceeds from maturities, calls and pay downs of held-to-maturity securities 40,247 37,524
Purchase of premises and equipment (1,413) (4,493)
Purchase of other investments (14,486) (5,263)
Redemption of other investments 5,917 0
Proceeds from bank-owned life insurance 3,281 11,752
Proceeds from sale of assets 0 27
Net cash (used in) provided by investing activities (231,800) 18,947
Cash flows from financing activities:    
Net increase/(decrease) in deposits 40,587 (10,502)
Cash dividends paid (6,507) (6,286)
Net cash used in share repurchases of common stock (10,207) (16,394)
Net cash provided by (used in) financing activities 23,873 (33,182)
Net change in cash and cash equivalents (117,392) 80,104
Cash and cash equivalents, beginning of period 410,642 588,257
Cash and cash equivalents, end of period 293,250 668,361
Supplemental disclosures of cash flow information:    
Cash paid for interest 12,631 18,664
Income taxes paid 4,241 16
Supplemental disclosures of non-cash transactions:    
Net change in unrealized losses on securities available-for-sale $ (4,331) $ (1,676)