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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 23,009 $ 22,723
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 300 0
Depreciation and amortization 763 698
Net accretion of securities premiums and discounts (276) (320)
Stock based compensation expense 2,042 0
Increase in cash surrender value of BOLI (603) (595)
Decrease in deferred income taxes, net 6,959 3,296
Net changes in:    
Other assets 3,935 8,502
Other liabilities 3,421 477
Net cash provided by operating activities 39,550 34,781
Cash flows from investing activities:    
Net decrease (increase) in loans and leases held for investment 94,058 (41,541)
Purchase of available-for-sale securities (33,186) (63,764)
Purchase of held-to-maturity securities (1,945) (1,130)
Proceeds from sales, maturities, calls and pay downs of available-for-sale securities 9,274 4,318
Proceeds from maturities, calls and pay downs of held-to-maturity securities 11,489 11,743
Purchase of premises and equipment (673) (410)
Purchase of other investments (2,047) (2,285)
Proceeds from sale of assets 53 0
Net cash provided by (used in) investing activities 77,023 (93,069)
Cash flows from financing activities:    
Net increase in deposits 278,829 291,494
Federal Home Loan Bank advances 0 100,000
Net cash used in share repurchase of common stock (711) (5,451)
Net cash provided by financing activities 278,118 386,043
Net change in cash and cash equivalents 394,691 327,755
Cash and cash equivalents, beginning of period 212,563 410,642
Cash and cash equivalents, end of period 607,254 738,397
Supplemental disclosures of cash flow information:    
Cash paid for interest 15,109 12,852
Income taxes paid 1,234 0
Supplemental disclosures of non-cash transactions:    
Net change in unrealized (losses)/gains on securities available-for-sale $ (6,959) $ 2,600