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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 27,619 $ 21,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 4,400 2,900
Depreciation and amortization 906 938
Amortization of deferred loan fees and costs 331 9
Amortization of premiums and discounts on securities 425 478
Amortization of subordinated note issuance costs 73 73
Amortization of low income housing tax credits 681 0
Stock compensation expense 624 593
Earnings on BOLI (381) (300)
Deferred tax provision 712 15
Loans originated for sale (1,384) (17,414)
Gain on sale of loans (244) (818)
Gross proceeds from sale of loans 3,531 12,909
Gain on equity investment (399) (300)
Net changes in:    
Interest receivable and other assets (955) 4,067
Interest payable and other liabilities (2,131) (7,808)
Operating lease liability (546) (484)
Net cash provided by operating activities 33,262 16,271
Cash flows from investing activities:    
Maturities, prepayments, and calls of securities available-for-sale 4,135 3,844
Capital call for equity investment (1,285) (1,269)
Proceeds received from equity investment 0 300
Low income housing tax credits (5,381) (1,160)
Net change in time deposits in banks 3,272 1,761
Loan originations, net of repayments (226,659) (174,992)
Purchase of premises and equipment (344) (312)
Purchase of BOLI (3,710) (1,550)
Other real estate sale proceeds 87 0
Net cash used in investing activities (229,885) (173,378)
Cash flows from financing activities:    
Net change in deposits 336,628 122,735
Proceeds from issuance of stock, net of issuance costs 0 80,870
Advances (payments) on other borrowings 0 (170,000)
Cash dividends paid (8,538) (7,715)
Net cash provided by financing activities 328,090 25,890
Net change in cash and cash equivalents 131,467 (131,217)
Cash and cash equivalents at beginning of period 352,343 321,576
Cash and cash equivalents at end of period 483,810 190,359
Supplemental disclosure of cash flow information:    
Interest paid 45,966 41,904
Income taxes paid 13,165 9,391
Supplemental disclosure of noncash items:    
Transfer from loans held for sale to loans held for investment 1,035 11,464
Unrealized gain (loss) on securities 1,220 (660)
Operating lease liabilities exchanged for ROUA 1,433 1,958
ROUA acquired (1,433) (1,958)
Net change in commitment for low income housing tax credits $ (10,000) $ 0