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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 82,217 $ 61,063 $ 59,021
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 11,496 12,945 13,678
Accretion of acquired loans 0 0 (135)
Provision (benefit) for credit losses 7,700 6,550 (4,300)
Deferred income tax expense (benefit) (2,036) (1,353) 2,020
Stock-based compensation expense 3,384 3,377 3,784
Stock grants to directors for retainer fee 350 359 344
Proceeds from sales of mortgage loans held for sale 196,217 237,779 686,418
Origination of mortgage loans held for sale (204,727) (217,030) (649,245)
Net gain on sales of mortgage loans held for sale (6,532) (8,197) (30,402)
Net gain from sales and valuation write-downs of foreclosed assets (419) (69) (78)
Net (gain) loss from sale and write-downs on former bank premises 2 275 (140)
Net (gain) loss from sales and disposals of premises and equipment 471 (36) 246
Earnings on bank owned life insurance (1,500) (1,678) (1,164)
Gain on sale of branch 0 0 (1,058)
Net (gain) loss on instruments designated at fair value and related derivatives 257 (45) 224
Net change in:      
Accrued interest receivable (4,330) (6,165) 1,528
Other assets (30,189) (437) (12,655)
Accrued interest and other liabilities 14,252 32,524 (3,513)
Net cash from operating activities 66,613 119,862 64,573
Cash flows from investing activities      
Purchases of securities available for sale (19,941) (107,011) (298,708)
Proceeds from maturities, calls and repayments of securities available for sale 24,142 17,984 80,432
Loan originations and payments, net (387,283) (462,427) (267,899)
Proceeds from Federal Home Loan Bank stock redemption 0 281 0
Purchases of Federal Home Loan Bank stock (3,792) 0 0
Purchases of bank owned life insurance (3,500) (4,500) (2,000)
Proceeds from bank owned life insurance death benefits claim 0 628 0
Net cash transferred in branch sale 0 0 (2,679)
Purchases of premises and equipment and lease activity (6,687) (3,017) (5,602)
Proceeds from sales of former bank premises 598 2,994 753
Proceeds from sales of foreclosed assets 531 69 196
Net cash for investing activities (395,932) (554,999) (495,507)
Cash flows from financing activities      
Net (decrease) increase in time deposits 422,781 (57,189) (120,512)
Net (decrease) increase in all other deposits (234,674) (313,193) 806,796
Net (decrease) increase in securities sold under agreements to repurchase 35,394 (3,123) 79,098
Proceeds from Federal Home Loan Bank advances 240,000 28,263 0
Maturities of Federal Home Loan Bank advances (80,353) (94,000) (20,000)
Net proceeds from subordinated notes issuance 0 14,645 73,635
Proceeds from stock option exercises, net of cashless exercises 0 36 50
Employee stock purchase plan 45 45 48
Dividend reinvestment plan 891 867 877
Repurchases of common stock 0 0 (21,380)
Payment of cash dividends to common shareholders (21,004) (19,602) (18,524)
Net cash (for) from financing activities 363,080 (443,251) 780,088
Net change in cash and cash equivalents 33,761 (878,388) 349,154
Cash and cash equivalents at beginning of period 96,772 975,160 626,006
Cash and cash equivalents at end of period 130,533 96,772 975,160
Supplemental disclosures of cash flows information      
Interest 72,024 21,765 20,352
Federal income taxes 24,850 11,200 17,550
Noncash financing and investing activities:      
Transfers from loans to foreclosed assets 112 0 30
Transfers from bank premises to other real estate owned 800 0 0
Transfers from premises and equipment to other assets $ 0 $ 2,847 $ 0