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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 22,812 $ 19,353
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 557 650
Provision for Credit Losses 0 1,485
(Accretion)Amortization of premiums and discounts on securities (936) 183
Gain on sales of loans (129) (166)
Net loss on sale of available-for-sale debt securities 0 8
Stock-based compensation expense 1,241 1,127
Gain on sale of premises and equipment (107) 0
Cash receipts from the sale of loans originated for sale 8,752 5,120
Cash disbursements for loans originated for sale (7,905) (5,362)
Deferred income tax expense(benefit) 497 (389)
Changes in    
Interest receivable and other assets 2,981 (2,027)
Interest payable and other liabilities 829 149
Net cash provided by operating activities 28,592 20,131
Investing Activities    
Maturities of interest-bearing time deposits in other banks 8,973 3,488
Purchases of interest-bearing time deposits in other banks (3,496) (8,469)
Maturities, prepayments and calls of available-for-sale debt securities 188,536 4,198
Purchases of available-for-sale debt securities (83,877) 0
Net change in loans 6,510 (5,859)
Purchases of premises and equipment (2,278) (2,225)
Proceeds from sale of premises and equipment 127 0
Change in nonmarketable equity securities 8 (29)
Net cash provided by (used in) investing activities 114,503 (8,896)
Financing Activities    
Net change in deposits (110,074) 78,926
Cash distributions (3,871) (2,929)
Shares purchased and retired for restricted stock units (418) (133)
Net settlement of stock options 330 241
Common stock issued for restricted stock units 1 1
Net cash provided by (used in) financing activities (114,032) 76,106
Net Increase in Cash and Due from Banks 29,063 87,341
Cash and Due from Banks, Beginning of Period 181,042 109,115
Cash and Due from Banks, End of Period 210,105 196,456
Supplemental Disclosure of Cash Flows Information    
Interest paid 22,481 16,118
Income taxes paid 7,531 7,048
Dividends declared and not paid 1,943 1,465
Measurement period goodwill adjustment $ 0 $ (146)