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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 $ 12,294 $ 10,874
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 420 830
Depreciation and amortization 1,478 1,625
Accretion and amortization 738 594
Other gains, net (149) 0
Net gain on sales of loans (2,591) (2,654)
Proceeds from sales of loans held for sale 73,385 69,962
Loans originated for sale (64,382) (68,779)
Deferred income tax expense 185 88
Earnings on bank-owned life insurance (405) (375)
Stock-based compensation 569 481
Change in valuation of mortgage servicing rights 1,585 (55)
Net change in:    
Accrued interest receivable and other assets 6,651 6,496
Accrued expenses and other liabilities (3,683) 73
Net cash provided by operating activities 26,095 19,160
Activity in securities available for sale:    
Purchases 0 (299,849)
Maturities, prepayments, and calls 10,661 311,363
Loan originations and principal collections, net (21,821) 1,027
Purchases of premises and equipment (1,135) (474)
Proceeds from sales of premises and equipment 2,093 0
Proceeds from sales of foreclosed assets 428 430
Net cash provided by (used in) investing activities (9,774) 12,497
Cash flows from financing activities:    
Net change in deposits 171,643 12,418
Proceeds from common stock issuance, net 235 0
Payments to tax authorities for stock-based compensation (262) (132)
Cash dividends paid on common stock (2,469) (2,127)
Payments to repurchase common stock (8,250) (35)
Net cash provided by financing activities 160,897 10,124
Net change in cash and cash equivalents 177,218 41,781
Beginning cash and cash equivalents 359,082 330,158
Ending cash and cash equivalents 536,300 371,939
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 22,485 24,188
Income taxes paid 0 0
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 498 380
Additions to mortgage servicing rights $ 199 $ 219