XML 24 R8.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 24,071 $ 23,009
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 500 300
Depreciation and amortization 756 763
Net accretion of securities premiums and discounts (1,025) (276)
Stock based compensation expense 3,518 2,042
Increase in cash surrender value of BOLI (638) (603)
Decrease in deferred income taxes, net 3,300 6,959
Net changes in:    
Other assets 10,124 3,935
Other liabilities 110 3,421
Net cash provided by operating activities 40,716 39,550
Cash flows from investing activities:    
Net decrease in loans and leases held for investment 32,158 94,058
Purchase of available-for-sale securities 0 (33,186)
Purchase of held-to-maturity securities (1,050) (1,945)
Proceeds from sales, maturities, calls and pay downs of available-for-sale securities 40,499 9,274
Proceeds from maturities, calls and pay downs of held-to-maturity securities 11,430 11,489
Purchase of premises and equipment (9,535) (673)
Purchase of other investments (3,135) (2,047)
Proceeds from sale of assets 0 53
Net cash provided by investing activities 70,367 77,023
Cash flows from financing activities:    
Net increase in deposits 138,447 278,829
Cash dividends paid (3,665) 0
Restricted stock vesting distribution (6,303) 0
Cash used in share repurchase program 0 (711)
Purchase of treasury stock (202) 0
Net cash provided by financing activities 128,277 278,118
Net change in cash and cash equivalents 239,360 394,691
Cash and cash equivalents, beginning of period 144,864 212,563
Cash and cash equivalents, end of period 384,224 607,254
Supplemental disclosures of cash flow information:    
Cash paid for interest 16,121 15,109
Income taxes paid 0 1,234
Supplemental disclosures of non-cash transactions:    
Accrued cash dividend on restricted stock (30) 0
Net change in unrealized gains/(losses) on securities available-for-sale $ 9,731 $ (6,959)