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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net earnings $ 14,104 $ 17,853
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,036 2,028
Amortization 352 376
Deferred taxes 312 (1,157)
Premium amortization, net of discount accretion 851 1,240
Net realized loss on sales of securities available for sale 0 229
Gain on sale of loans (499) (787)
Reversal of provision for credit losses (1,450) 0
Origination of loans held for sale (16,347) (22,127)
Proceeds from loans held for sale 16,951 25,275
Write-down of other real estate and repossessed assets 900 0
Net gain on sale of premises, equipment, other real estate owned and other assets (9) (2,945)
Stock based compensation 270 298
Net change in accrued interest receivable and other assets 3,503 (982)
Net change in accrued interest payable and other liabilities 529 2,251
Net cash provided by operating activities 21,503 21,552
Securities available for sale:    
Purchases (857,736) (484,132)
Proceeds from Sales 0 21,268
Proceeds from maturities and principal repayments 811,023 482,114
Securities held to maturity:    
Proceeds from maturities and principal repayments 55,348 70,637
Net repayments of loans 90,851 43,363
Purchases of premises and equipment (2,593) (3,888)
Proceeds from sale of premises, equipment, other real estate owned and other assets 161 3,492
Net cash provided by investing activities 97,054 132,854
Cash flows from financing activities    
Net change in deposits (7,084) (78,337)
Net change in securities sold under agreements to repurchase 1 13,311
Proceeds from FHLB advances 1,125,000 1,725,000
Repayment of FHLB advances (1,220,000) (1,820,000)
Proceeds from line of credit 0 12,000
Repayment of line of credit (4,500) 0
Repayments of debentures (2,000) (1,500)
Purchase of treasury stock (4,427) (8,850)
Exercise of stock options 564 225
Cash dividends paid (5,423) (5,371)
Net cash used in financing activities (117,869) (163,522)
Net change in cash and cash equivalents 688 (9,116)
Cash and cash equivalents at beginning of period 89,524 106,467
Cash and cash equivalents at end of period 90,212 97,351
Supplemental disclosures of cash flow information    
Interest paid 33,624 24,150
Income taxes paid 4,225 4,080
Supplemental schedule of noncash investing and financing activities    
Cash dividends accrued 2,743 2,668
Lease right of use assets obtained in exchange for lease liabilities 0 568
Transfer of loans to other real estate owned and repossessed assets $ 16,233 $ 0