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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 23,943 $ 13,991
Items not requiring (providing) cash    
Provision for credit losses 1,376 805
Depreciation and amortization 2,475 2,649
Share based compensation 459 907
Amortization of mortgage servicing rights 507 476
Net amortization of premiums and discounts on securities 1,885 2,182
Loss on sale of investment securities 407 0
Gain on sale of mortgage loans (1,076) (626)
Gain on sale of portfolio loans (7,000) 0
Proceeds from sales of loans 26,073 21,432
Loans originated for sale (26,407) (20,517)
Gain on cash value life insurance (335) (298)
Gain on other real estate owned (13) (64)
Net change in:    
Interest receivable 1,084 (1,298)
Interest payable 304 (14,396)
Other assets 9,741 (4,548)
Other liabilities (18,178) 5,849
Net cash provided by operating activities 15,244 6,544
Investing Activities    
Proceeds from sales of securities available for sale 4,132 0
Proceeds from maturities, calls and principal repayments of securities available for sale 597 4,369
Proceeds from maturities of securities held to maturity 17,683 18,233
Net change in interest-earning time deposits 735 490
Purchase of FHLB stock 0 (19,317)
Redemption of FHLB stock 8,414 0
Purchase of loans 0 (153,743)
Proceeds from sale of portfolio loans 54,990 0
Net change in loans (47,159) (47,365)
Proceeds on the sale of OREO and repossessed assets 221 369
Premises and equipment expenditures (1,129) (1,178)
Proceeds from bank owned life insurance 376 22,917
Net cash provided by (used in) investing activities 38,860 (175,225)
Financing Activities    
Net change in deposits 165,131 (85,023)
Proceeds from borrowings 200,000 403,026
Repayment of borrowings (530,123) (400,235)
Net change in repurchase agreements (2,060) 3,280
Net settlement of share awards (3,698) (708)
Dividends paid on common stock (7,120) (7,086)
Net cash used in financing activities (177,870) (86,746)
Net Change in Cash and Cash Equivalents (123,765) (255,427)
Cash and Cash Equivalents, Beginning of Period 293,431 526,515
Cash and Cash Equivalents, End of Period 169,666 271,088
Additional Supplemental Information    
Interest paid 36,605 56,372
Income taxes paid 360 0
Transfer of loans to other real estate and repossessed assets 1,034 253
Transfer of held to maturity securities to available for sale 4,539 0
Cash dividends declared, not paid $ 7,088 $ 7,156