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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 27,749 $ 35,833
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 1,508 1,566
Amortization of intangible assets 1,030 1,656
Provision for credit losses on loans 4,015 4,195
Amortization of investment securities premium, net 6 174
Loss on sale of investment securities 0 164
Originations of loans for resale (10,858) (6,281)
Proceeds from sale of loans originated for resale 10,151 8,058
Gain on sale of loans (261) (206)
Change in fair market value of mortgage servicing rights (11) 209
Provision for losses on foreclosed assets 262 0
Gain on transfer of loans to foreclosed assets (38) 0
Operating lease expense payments (1,568) (1,653)
Loss on disposal of fixed assets 5 0
Increase in cash value of life insurance (803) (802)
(Gain) loss on marketable equity securities 28 (42)
Equity compensation vesting expense 1,198 1,041
Change in:    
Interest receivable 985 468
Interest payable 1,779 476
Amortization of operating lease ROUA 1,499 1,739
Other assets and liabilities, net (11,596) (7,640)
Net cash from operating activities 25,080 38,955
Investing activities:    
Proceeds from maturities of securities available for sale 62,770 56,905
Proceeds from maturities of securities held to maturity 5,625 8,842
Proceeds from sale of available for sale securities 0 24,160
Loan origination and principal collections, net (7,379) 26,558
Purchases of premises and equipment (1,028) (1,213)
Net cash from investing activities 59,988 115,252
Financing activities:    
Net change in deposits 153,620 (303,148)
Net change in other borrowings (240,173) 169,535
Repurchase of common stock, net of option exercises (3,408) (7,595)
Dividends paid (10,972) (9,972)
Exercise of stock options 0 78
Net cash used by financing activities (100,933) (151,102)
Net change in cash and cash equivalents (15,865) 3,105
Cash and cash equivalents, beginning of period 98,701 107,230
Cash and cash equivalents, end of period 82,836 110,335
Supplemental disclosure of noncash activities:    
Unrealized gain (loss) on securities available for sale (15,898) 34,540
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 0 621
Obligations incurred in conjunction with leased assets 1,327 4,484
Loans transferred to foreclosed assets 12 0
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 30,902 9,095
Cash paid for income taxes $ 0 $ 0