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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 28,131 $ 36,991
Items not requiring (providing) cash    
Credit loss expense 3,174 922
Depreciation and amortization 5,170 5,268
Share based compensation 2,041 1,703
Amortization of mortgage servicing rights 942 547
Premium amortization on securities, net 4,355 5,265
Loss on sale of investment securities 0 480
Gain on sale of mortgage loans (1,522) (1,790)
Proceeds from sales of loans 52,329 62,541
Loans originated for sale (52,396) (62,312)
Gain on cash value life insurance (616) (1,996)
Gain on sale of other real estate owned (74) (121)
Net change in:    
Interest receivable (4,530) (2,242)
Interest payable (11,009) 7,359
Other assets (8,855) (299)
Other liabilities 5,323 (8,202)
Net cash provided by operating activities 22,463 44,114
Investing Activities    
Purchases of securities available for sale 0 (1,385)
Proceeds from sales of securities available for sale 0 88,194
Proceeds from maturities, calls and principal repayments of securities available for sale 8,704 15,170
Purchases of securities held to maturity (312) (9,605)
Proceeds from maturities, calls and principal repayments of securities held to maturity 38,317 45,334
Net change in interest earning time deposits 490 360
Purchase of FHLB stock (19,317) (7,832)
Purchase of loans (240,020) (62,489)
Net change in loans (166,999) (48,049)
Proceeds on the sale of OREO and repossessed assets 748 1,188
Premises and equipment expenditures (2,007) (5,277)
Proceeds from bank owned life insurance 22,917 0
Net cash used in investing activities (357,479) 15,609
Financing Activities    
Net change in deposits (34,738) (148,442)
Proceeds from borrowings 512,759 584,094
Repayment of borrowings (500,615) (378,790)
Net change in repurchase agreements (7,860) 3,786
Net settlement of share awards (768) (723)
Dividends paid on common stock (14,176) (14,167)
Net cash provided by financing activities (45,398) 45,758
Net Change in Cash and Cash Equivalents (380,414) 105,481
Cash and Cash Equivalents, Beginning of Period 526,515 123,505
Cash and Cash Equivalents, End of Period 146,101 228,986
Additional Supplemental Information    
Interest paid 94,687 49,910
Income taxes paid 8,000 1,554
Transfer of loans to other real estate and repossessed assets $ 915 $ 1,452