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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 10,874 $ 9,244
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 830 1,010
Depreciation and amortization 1,625 1,698
Accretion and amortization 594 991
Other gains, net 0 (79)
Net gain on sales of loans (2,654) (2,918)
Proceeds from sales of loans held for sale 69,962 86,893
Loans originated for sale (68,779) (74,291)
Deferred income tax expense 88 47
Earnings on bank-owned life insurance (375) (300)
Stock-based compensation 481 525
Change in valuation of mortgage servicing rights (55) 1,950
Net change in:    
Accrued interest receivable and other assets 6,496 609
Accrued expenses and other liabilities 73 (4)
Net cash provided by operating activities 19,160 25,375
Activity in securities available for sale:    
Purchases (299,849) 0
Maturities, prepayments, and calls 311,363 10,811
Loan originations and principal collections, net 1,027 (41,634)
Purchases of premises and equipment (474) (1,560)
Proceeds from sales of premises and equipment 0 642
Proceeds from sales of foreclosed assets 430 412
Net cash provided by (used in) investing activities 12,497 (31,329)
Cash flows from financing activities:    
Net change in deposits 12,418 101,624
Payments to tax authorities for stock-based compensation (132) (343)
Cash dividends paid on common stock (2,127) (2,208)
Payments to repurchase common stock (35) 0
Net cash provided by financing activities 10,124 99,073
Net change in cash and cash equivalents 41,781 93,119
Beginning cash and cash equivalents 330,158 234,883
Ending cash and cash equivalents 371,939 328,002
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 24,188 13,215
Income taxes paid 0 0
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 380 445
Additions to mortgage servicing rights $ 219 $ 271