XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income $ 31,464 $ 26,006
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,205 2,110
Accretion of discounts on securities, net (807) (634)
Amortization of operating lease ROUAs 2,234 2,044
Other amortization and accretion, net 1,983 232
Stock-based compensation 3,038 2,217
Origination of loans designated for sale (15,964) (31,264)
Sale of loans designated for sale 18,778 27,199
Provision for credit losses 9,250 1,368
Deferred income taxes 857 4,299
Gains on securities (196) (229)
Gains on sale of loans (1,992) (934)
Losses (gains) on sale and write-downs of OREO 134 (26)
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to OREO 86 286
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net (increase) decrease in other assets (8,048) 3,127
Net decrease in other liabilities (12,016) (11,129)
Net cash provided by operating activities 31,006 24,672
Cash Flows from Investing Activities    
Maturities and repayments of debt securities AFS 121,302 50,888
Maturities and repayments of debt securities HTM 10,575 10,441
Proceeds from sale of debt securities AFS 0 86,829
Purchases of debt securities AFS (485,904) (260,992)
Maturities and redemptions of time deposits with other banks 1,721 989
Purchases of time deposits with other banks 0 (2,988)
Net new loans and principal repayments (161,430) 87,371
Proceeds from the sale of loans held for investment 14,532 0
Proceeds from sale of OREO 97 1,243
Proceeds from sale of FHLB and Federal Reserve Bank stock 9,026 2,483
Purchase of FHLB and Federal Reserve Bank stock (20,020) (5,320)
Proceeds from sale of Visa Class B shares 0 4,104
Additions to bank premises and equipment (3,214) (762)
Net cash used in investing activities (513,315) (25,714)
Cash Flows from Financing Activities    
Net increase in deposits 332,369 238,906
Net decrease in repurchase agreements (30,943) (47,841)
Repayments of FHLB borrowings with original maturities of more than three months (190,000) (50,000)
Proceeds from FHLB borrowings with original maturities of more than three months 410,000 110,000
Stock-based employee benefit plans 289 813
Dividends paid (15,441) (15,294)
Net cash provided by financing activities 506,274 236,584
Net increase in cash and cash equivalents 23,965 235,542
Cash and cash equivalents at beginning of period 476,607 447,182
Cash and cash equivalents at end of period 500,572 682,724
Supplemental disclosure of cash flow information:    
Cash paid for interest 68,270 70,378
Cash paid for taxes 0 0
Recognition of operating lease ROUAs, other than through bank acquisitions, net of terminations 7,866 0
Recognition of operating lease liabilities, other than through bank acquisitions, net of terminations 7,866 0
Supplemental disclosure of non-cash investing activities:    
Transfers from loans to OREO 986 89
Transfers from bank premises to OREO $ 0 $ 883