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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 9,358 $ 11,500
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,460 2,614
Amortization of intangible assets 612 659
Provision for Loan and Lease Losses (440) 550
Stock compensation expense 518 538
Deferred income tax expense 1,439 3,475
Increase in cash surrender value of bank owned life insurance (523) (469)
Net gains from mortgage banking (250) (172)
Origination of loans held for sale (10,825) (10,319)
Proceeds from sales of loans held for sale 10,632 8,919
Net (gain) loss from sale/disposal of fixed assets (1,373) 8
Net change in:    
Accrued interest receivable (64) (217)
Accrued interest payable (781) 106
Other assets (1,616) 1,674
Other liabilities (2,071) (7,512)
Net cash provided by operating activities 7,076 11,354
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns 11,394 7,554
Purchases (81,009) (76,606)
Proceeds from maturities, calls and paydowns 100,527 628
Proceeds from sales of other investments   1,480
Purchases of other investments (205) (9)
Net increase in loans and leases (34,057) (28,943)
Proceeds from sale of fixed assets 3,248 623
Purchases of premises and equipment (2,914) (1,561)
Net cash used in investing activities (3,016) (96,834)
Cash flows from financing activities:    
Net increase in deposits 126,287 152,493
Net decrease in securities sold under agreements to repurchase (1,229) (729)
Repayment of borrowings (2,000) (24,585)
Cash dividends paid (1,360) (1,354)
Issuance of common stock 43 165
Restricted shares withheld for taxes (131)  
Net cash provided by financing activities 121,610 125,990
Net change in cash and cash equivalents 125,670 40,510
Cash and cash equivalents, beginning of period 352,271 266,424
Cash and cash equivalents, end of period 477,941 306,934
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 28,843 17,091
Net cash paid during the period for income taxes 5 19
Noncash investing and financing activities:    
Recognition of operating lease assets in exchange for lease liabilities 99  
Acquisition of real estate through foreclosure $ 179 $ 272