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Condensed 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 $ 20,503 $ 19,180
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (357) (817)
Depreciation, amortization and accretion, net 5,338 3,485
Change in cash surrender value of bank owned life insurance (1,121) (926)
Change in bank owned life insurance 0 (715)
Stock-based compensation expense 606 307
Operating lease payments (836) (781)
Loss on investment securities, net 0 46
(Gain) loss on sales and write downs of other real estate owned, net (70) 71
Gain on sale of loans held for sale, net (233) (207)
Increase in accrued interest receivable (2,585) (372)
Increase in accrued interest payable 910 1,378
Origination of loans held for sale (10,448) (12,191)
Proceeds from sale of loans held for sale 10,844 11,737
Decrease in other assets 10,537 1,867
Decrease in other liabilities (4,040) (1,757)
Net cash provided by operating activities 29,048 20,305
Cash flows from investing activities:    
Purchases of certificates of deposit investments (2,275) (245)
Proceeds from sales of securities available-for-sale 0 6,483
Proceeds from maturities of securities available-for-sale 21,621 19,250
Purchases of securities available-for-sale (994) (1,063)
Purchase of securities held-to-maturity 0 (25)
Income increasing amortized cost of HTM securities (11) 0
Net decrease in loans 80,542 65,541
Purchases of premises and equipment (1,480) (941)
Proceeds from sales of other real property owned 0 734
Net cash provided by investing activities 97,403 89,734
Cash flows from financing activities:    
Net increase (decrease) in deposits 119,277 (226,223)
(Decrease) increase in repurchase agreements (3,002) 7,250
Proceeds from FHLB advances 0 170,000
Repayment of FHLB advances (25,000) (40,000)
Proceeds from issuance of common stock 382 336
Purchase of treasury stock 0 (5)
Dividends paid on common stock (5,471) (4,696)
Net cash provided by (used in) financing activities 86,186 (93,338)
Increase in cash and cash equivalents 212,637 16,701
Cash and cash equivalents at beginning of period 143,064 152,433
Cash and cash equivalents at end of period 355,701 169,134
Cash paid during the period for:    
Interest 31,321 19,094
Income taxes (823) (288)
Supplemental disclosures of noncash investing and financing activities    
Loans transferred to other real estate 183 648
Initial recognition of right-of-use assets 729 0
Initial recognition of lease liabilities $ 729 $ 0