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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 $ 12,179 $ 10,936
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,200 700
Net gain on sale of bank-owned property (6,994) 0
Depreciation of premises and equipment 894 1,001
Net amortization of premiums and discounts on securities and loans 94 265
Amortization of intangibles 204 208
Amortization of terminated cash flow hedge loss 2,116 2,138
Pension plan settlement charge 6,436 0
Share-based compensation 780 753
Tax benefit (expense) from stock option exercises and other equity awards (21) (7)
Income from bank-owned life insurance [1] (769) (739)
Net gains on loan sales, including changes in fair value (1,709) (1,910)
Proceeds from sales of loans, net 74,377 70,480
Loans originated for sale (72,919) (74,643)
(Increase) decrease in operating lease right-of-use assets 898 148
Increase (decrease) in operating lease liabilities (866) (190)
(Increase) decrease in other assets 6,066 (5,806)
Increase (decrease) in other liabilities (13,516) (1,386)
Net cash provided by (used in) operating activities 8,450 1,948
Cash flows from investing activities:    
Maturities, calls and principal payments of mortgage-backed securities available for sale 15,400 15,265
Net redemption (purchases) of Federal Home Loan Bank stock 10,918 (3,619)
Net (increase) decrease in loans (38,469) 36,251
Net proceeds from sale of portfolio loans 283,182 0
Purchases of loans (453) (597)
Purchases of premises and equipment (88) (626)
Net proceeds from the sale of bank-owned property 11,780 0
Equity investments in real estate limited partnership 0 (758)
Purchases of other equity investments, net (250) (125)
Net cash provided by (used in) investing activities 358,958 (26,711)
Cash flows from financing activities:    
Net increase (decrease) in deposits (75,219) (267)
Proceeds from Federal Home Loan Bank advances 270,000 860,000
Repayments of Federal Home Loan Bank advances (545,000) (810,000)
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (39) (17)
Cash dividends paid (10,800) (9,549)
Net cash provided by (used in) financing activities (361,058) 40,167
Net increase (decrease) in cash and cash equivalents 6,350 15,404
Cash and cash equivalents at beginning of period 113,889 90,184
Cash and cash equivalents at end of period 120,239 105,588
Noncash Activities:    
Loans charged off 2,522 70
Supplemental Disclosures:    
Interest payments 49,732 54,584
Income tax payments $ 23 $ 3,416
[1] As reported in the Unaudited Consolidated Statements of Income.