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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 49,717 $ 62,745 $ 58,240
Adjustments to reconcile net income to net cash from operating activities:      
Provision for credit losses 4,300 4,610 (2,619)
Provision for foreclosed asset losses 108 142 0
Depreciation and amortization 6,510 6,412 6,965
Accretion and amortization 2,844 3,381 4,072
Other gains, net (216) (275) (166)
Gain on sale of subsidiary 0 (33,778) 0
Loss on sale of securities 0 3,409 0
Net gain on sales of loans (10,524) (11,027) (20,764)
Proceeds from sales of loans held for sale 296,163 347,583 662,294
Loans originated for sale (292,640) (322,122) (598,495)
Deferred income tax expense (benefit) (1,049) 99 1,359
Earnings on bank-owned life insurance (1,550) (1,330) (1,196)
Stock-based compensation 2,318 2,157 2,753
Change in valuation of mortgage servicing rights 1,235 2,375 (4,705)
Net change in:      
Accrued interest receivable and other assets 1,423 (8,502) (1,067)
Accrued expenses and other liabilities 742 2,660 16,919
Net cash provided by operating activities 59,381 58,539 123,590
Activity in securities available for sale:      
Purchases (304,783) (199,898) (176,713)
Sales 0 52,828 0
Maturities, prepayments, and calls 337,941 240,106 81,253
Loan originations and principal collections, net (46,287) (270,196) (311,459)
Purchases of premises and equipment (3,354) (4,681) (4,469)
Proceeds from sales of premises and equipment 380 968 480
Proceeds from sale of subsidiary 0 36,080 0
Proceeds from sales of foreclosed assets 2,176 1,417 2,051
Net cash used in investing activities (13,927) (143,376) (408,857)
Cash flows from financing activities:      
Net change in deposits (5,277) 219,723 65,208
Payments to tax authorities for stock-based compensation (759) (731) (1,168)
Payments made on subordinated debt 0 (12,372) 0
Cash dividends paid on common stock (9,154) (8,745) (8,012)
Payments to repurchase common stock (1,340) (17,763) (22,699)
Net cash provided by (used in) financing activities (16,530) 180,112 33,329
Net change in cash and cash equivalents 28,924 95,275 (251,938)
Beginning cash and cash equivalents 330,158 234,883 486,821
Ending cash and cash equivalents 359,082 330,158 234,883
Supplemental disclosures of cash flow information:      
Interest paid on deposits and borrowed funds 92,750 70,065 21,770
Income taxes paid 12,535 19,388 13,835
Supplemental schedule of noncash activities:      
Loans transferred to foreclosed assets 1,927 2,130 764
Premises and equipment transferred to foreclosed assets 0 172 0
Additions to mortgage servicing rights $ 958 $ 1,470 $ 3,069