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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 21,562 $ 20,974
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 2,773 3,049
Provision for credit losses 1,300 600
Stock-based compensation expense 742 853
Stock grants to directors for retainer fee 2 0
Proceeds from sales of mortgage loans held for sale 65,603 25,645
Origination of mortgage loans held for sale (59,297) (24,951)
Net gain from sales of mortgage loans held for sale (2,092) (950)
Net gain from sales and valuation write-downs of foreclosed assets (79) 0
Net loss from sales and write-downs of fixed assets 0 377
Earnings on bank owned life insurance (1,172) (401)
Net (gain) loss on instruments designated at fair value and related derivatives (83) 180
Net change in:    
Accrued interest receivable (1,875) (1,947)
Other assets 1,849 131
Accrued interest payable and other liabilities 11,004 (5,495)
Net cash from operating activities 40,237 18,065
Cash flows from investing activities    
Loan originations and payments, net (17,824) (48,939)
Purchases of securities available for sale (591) (7,392)
Proceeds from maturities, calls and repayments of securities available for sale 5,271 1,703
Proceeds from sales of foreclosed assets 79 0
Proceeds from bank owned life insurance death benefits claim 1,357 0
Net purchases of premises and equipment and lease activity (1,461) (2,508)
Net cash for investing activities (13,169) (57,136)
Cash flows from financing activities    
Net increase in time deposits 55,606 87,115
Net increase (decrease) in all other deposits 51,286 (201,908)
Net increase (decrease) in securities sold under agreements to repurchase (1,116) 33,113
Net increase in federal funds purchased 0 17,207
Proceeds from Federal Home Loan Bank advances 10,000 80,000
Payoffs of and paydowns on Federal Home Loan Bank advances (30,827) (10,353)
Employee stock purchase plan 11 10
Dividend reinvestment plan 204 217
Payment of cash dividends to common shareholders (5,534) (5,164)
Net cash from financing activities 79,630 237
Net change in cash and cash equivalents 106,698 (38,834)
Cash and cash equivalents at beginning of period 130,533 96,772
Cash and cash equivalents at end of period 237,231 57,938
Supplemental disclosures of cash flows information    
Interest 28,268 11,838
Noncash financing and investing activities:    
Transfers from bank premises to other real estate owned 0 600
Transfers from loans to foreclosed assets $ 0 $ 61