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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income $ 19,499 $ 19,404 $ 38,178 $ 38,717  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     2,420 2,561  
Deferred taxes     251 242  
Stock-based compensation     687 788  
Provision for credit losses 2,972 2,009 5,628 3,125 $ 6,811
Write-downs of other real estate owned and other repossessed assets     49 106  
Gains on sale of mortgage loans held for sale (119) (115) (164) (236)  
Securities gains (1)   (1) (4)  
Fair value adjustments in equity securities 475 (165) 104 (379)  
Gains on sale of assets, net     (68) (325)  
Proceeds from sale of mortgage loans held for sale     6,160 9,098  
Funding of mortgage loans held for sale     (6,194) (8,991)  
Amortization of securities premiums and discounts, net     1,257 1,454  
Change in cash surrender value of bank owned life insurance     (2,492) (1,029)  
Changes in lease liabilities     (513) (678)  
Mortgage servicing rights:          
Fair value adjustments     (18) 334  
New servicing assets created     (66) (96)  
Changes in:          
Accrued interest receivable     (867) (665)  
Other assets     (4,862) (1,421)  
Accrued interest payable     4,871 3,387  
Other liabilities     1,718 (5,364)  
Net cash provided by operating activities     46,078 40,624  
Securities available-for-sale (AFS):          
Purchase of AFS securities     (13,109) (8,820)  
Proceeds from sales of AFS securities     1,084 18,561  
Proceeds from prepayments, calls, and maturities of AFS securities     79,134 56,666  
Change in loans, net     (213,641) (220,647)  
Purchase of premises and equipment     (3,705) (2,081)  
Proceeds from sale and retirement of premises and equipment     0 296  
Purchase of Federal Home Loan Bank stock     (4,423) 0  
Proceeds from sale of stock by Federal Home Loan Bank     0 131  
Proceeds from sale of other real estate owned and repossessed assets     298 739  
Additional investment in other real estate owned and repossessed assets     (12) (40)  
Liquidation of cash surrender value of bank owned life insurance     1,806 0  
Proceeds from settlement of bank owned life insurance     1,308 0  
Net cash used in investing activities     (151,260) (155,195)  
Cash flows from financing activities:          
Change in deposits, net     9,176 90,517  
Change in repurchase agreements and federal funds purchased, net     2,331 13,589  
Proceeds from Federal Home Loan Bank advances     100,000 100,000  
Payments on advances from Federal Home Loan Bank     (100,010) (100,010)  
Proceeds from long-term debt/other borrowings     0 6,563  
Repayment of long-term debt/other borrowings     (111) (54)  
Issuance of common stock     572 558  
Dividends paid     (16,515) (15,733)  
Net cash provided by (used in) financing activities     (4,557) 95,430  
Net decrease in cash and cash equivalents     (109,739) (19,141)  
Cash and cash equivalents at beginning of period     271,400 128,686 128,686
Cash and cash equivalents at end of period $ 161,661 $ 109,545 161,661 109,545 $ 271,400
Supplemental disclosures:          
Income taxes paid     10,891 12,308  
Interest paid     57,510 35,440  
Non-cash activities:          
Loans to facilitate the sale of other real estate owned and repossessed assets     197 1,022  
Common stock dividends accrued, paid in subsequent quarter     277 281  
Real estate acquired in settlement of loans     474 175  
Right-of-use assets obtained in exchange for new operating lease liabilities     $ 0 $ 364