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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 16,098 $ 18,746
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Provision for credit losses 1,210 1,021
Depreciation and amortization of premises and equipment 1,034 975
Amortization of net premiums on securities 53 187
Amortization of servicing assets 2,945 3,302
Accretion of net discounts on loans (1,736) (2,199)
Amortization of low income housing partnerships 1,552 1,084
Stock-based compensation, net 908 961
Deferred income taxes (521) 753
Gain on sale of loans (6,116) (5,847)
Earnings on company owned life insurance (506) (458)
Net change in fair value of equity investment with readily determinable fair value (77) 106
Origination of loans held for sale (102,251) (64,362)
Proceeds from sales of loans held for sale 99,921 112,070
Net change in:    
Accrued interest receivable (1,220) (816)
Other assets 10,085 (2,929)
Accrued interest payable 6,855 10,781
Other liabilities (2,180) (4,200)
Net cash from operating activities 26,054 69,175
Cash flows from investing activities    
Net change in loans receivable (158,865) (57,247)
Proceeds from matured, called, or paid-down securities available for sale 19,121 18,887
Purchase of loans (6,421) (21,916)
Purchase of available-for-sale debt securities (19,082) (5,647)
Purchase of equity investments (75) (63)
Purchase of Federal Home Loan Bank stock (87) (4,044)
Purchase of premises and equipment, net (747) (1,953)
Investments in low-income housing partnerships (3,318) (1,563)
Net cash from investing activities (169,474) (73,546)
Cash flows from financing activities    
Net change in deposits 257,045 (60,600)
Cash received from stock option exercises 160 888
Proceeds from Federal Home Loan Bank advances 0 95,000
Repayment of Federal Home Loan Bank advances (30,000) 0
Repurchase of common stock (2,743) (2,582)
Cash dividend paid on common stock (5,365) (5,469)
Payments related to tax-withholding for vested restricted stock awards (137) (98)
Net cash from financing activities 218,960 27,139
Net change in cash and cash equivalents 75,540 22,768
Cash and cash equivalents at beginning of period 91,216 82,972
Cash and cash equivalents at end of period 166,756 105,740
Cash paid during the period for:    
Income taxes 6,936 8,377
Interest 47,035 26,644
Supplemental noncash disclosure:    
Initial recognition of right-of-use assets 871 1,369
Transfer of loan to other real estate owned $ 1,077 $ 0