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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income $ 22,142 $ 20,628 $ 60,320 $ 59,345  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     3,760 4,034  
Deferred taxes     250 243  
Stock-based compensation     1,021 1,152  
Provision for credit losses 2,736 1,871 8,364 4,996 $ 6,811
Write-downs of other real estate owned and other repossessed assets     49 230  
Gains on sale of mortgage loans held for sale (80) (105) (244) (341)  
Securities gains (1)   (2) (4)  
Fair value adjustments in equity securities (212) (355) (108) (734)  
Gains on sale of assets, net     (100) (378)  
Proceeds from sale of mortgage loans held for sale     9,344 13,271  
Funding of mortgage loans held for sale     (9,063) (12,821)  
Amortization of securities premiums and discounts, net     1,968 2,094  
Change in cash surrender value of bank owned life insurance     (3,401) (1,850)  
Changes in lease liabilities     (863) (1,201)  
Mortgage servicing rights:          
Fair value adjustments     674 320  
New servicing assets created     (100) (141)  
Changes in:          
Accrued interest receivable     (195) (1,875)  
Other assets     (2,844) (5,561)  
Accrued interest payable     8,915 5,973  
Other liabilities     5,023 (986)  
Net cash provided by operating activities     82,768 65,766  
Securities available-for-sale (AFS):          
Purchase of AFS securities     (51,192) (9,398)  
Proceeds from sales of AFS securities     13,712 20,670  
Proceeds from prepayments, calls, and maturities of AFS securities     131,469 93,104  
Change in loans, net     (304,365) (277,466)  
Purchase of premises and equipment     (5,044) (5,027)  
Proceeds from sale and retirement of premises and equipment     70 349  
Purchase of Federal Home Loan Bank stock     (461) (994)  
Proceeds from sale of other real estate owned and repossessed assets     577 819  
Additional investment in other real estate owned and repossessed assets     (13) (47)  
Liquidation of cash surrender value of bank owned life insurance     2,356 241  
Proceeds from settlement of bank owned life insurance     1,591 336  
Net cash used in investing activities     (211,300) (177,413)  
Cash flows from financing activities:          
Change in deposits, net     113,640 201,749  
Change in repurchase agreements and federal funds purchased, net     8,079 17,146  
Proceeds from Federal Home Loan Bank advances     100,000 225,000  
Payments on advances from Federal Home Loan Bank     (100,015) (225,015)  
Proceeds from long-term debt/other borrowings     0 6,563  
Repayment of long-term debt/other borrowings     (167) (108)  
Issuance of common stock     1,495 837  
Dividends paid     (24,960) (23,953)  
Net cash provided by financing activities     98,072 202,219  
Net increase in cash and cash equivalents     (30,460) 90,572  
Cash and cash equivalents at beginning of period     271,400 128,686 128,686
Cash and cash equivalents at end of period $ 240,940 $ 219,258 240,940 219,258 $ 271,400
Supplemental disclosures:          
Income taxes paid     17,206 17,628  
Interest paid     86,081 59,213  
Non-cash activities:          
Loans to facilitate the sale of other real estate owned and repossessed assets     238 1,022  
Common stock dividends accrued, paid in subsequent quarter     276 291  
Real estate acquired in settlement of loans     488 500  
Right-of-use assets obtained in exchange for new operating lease liabilities     $ 0 $ 364