XML 19 R8.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 33,383 $ 25,797
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,317 2,208
Provision for credit losses 2,454 4,234
Stock-based compensation expense 1,053 1,299
Deferred compensation expense accrued 1,619 1,444
Gains on other real estate owned, net   (31)
Amortization of securities premiums/discounts, net 1,371 719
Fair value loss on derivatives and trading securities 869 1,007
Ineffectiveness on fair value hedges 5 16
Loans originated for sale (25,697) (16,211)
Proceeds on sales of loans 25,677 16,687
Gains on sales of residential real estate loans (614) (297)
Amortization of intangibles 506 661
Accretion of acquisition fair value adjustments, net (891) (184)
Increase in cash value of bank-owned life insurance (837) (524)
Increase (decrease) in other assets 8,881 (12,243)
Increase in other liabilities (45,696) (28,136)
Net cash provided by (used in) operating activities 4,400 (3,554)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in federal funds sold 22,200 18,250
Net (increase) decrease in interest-bearing deposits at financial institutions 8,129 (73,374)
Proceeds from sales of other real estate owned   400
Activity in securities portfolio:    
Purchases (33,841) (48,301)
Calls, maturities and redemptions 15,463 13,985
Paydowns 1,433 10,014
Activity in restricted investment securities:    
Purchases (346) (64)
Redemptions 9,546 6,174
Net increase in loans/leases originated and held for investment (125,595) (41,464)
Purchase of premises and equipment (12,282) (9,119)
Net cash used in investing activities (115,293) (123,499)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposit accounts 356,652 276,203
Net increase (decrease) in short-term borrowings (700) 250
Activity in Federal Home Loan Bank advances:    
Term advances 226  
Net change in short-term and overnight advances (220,000) (140,000)
Payment of cash dividends on common stock (1,011) (1,013)
Proceeds from issuance of common stock, net 112 (1,125)
Repurchase and cancellation of common stock (20,842)  
Net cash provided by financing activities 114,437 134,315
Net increase in cash and due from banks 3,544 7,262
Cash and due from banks, beginning 76,494 91,732
Cash and due from banks, ending 80,038 98,994
Supplemental disclosure of cash flow information, cash payments for:    
Interest 53,290 57,886
Income/franchise taxes 11,402 43
Supplemental schedule of noncash investing activities:    
Change in fair value of fair value hedges 1,246 (1,556)
Transfers of loans to other real estate owned   110
Transfer of loans to held for sale 522,868  
Increase (decrease) in the fair value of back-to-back interest rate swap assets and liabilities 21,187 (4,952)
Dividends payable $ 1,674 $ 1,015