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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 $ 23,401 $ 24,278
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 1,534 1,538
Provision for credit losses 1,520 4,350
Amortization of loan servicing rights 109 133
Loans originated for sale, including participations (4,535) (795)
Net gain on sales of loans (108) (34)
Proceeds from sale of loans, including participations 4,112 672
Net (gain) loss on sales of premises and equipment 13 (4)
Net (gain) loss on sales and calls of securities available-for-sale 46 (16)
Net securities amortization 1,264 1,192
Stock based compensation expense 880 2,161
Losses (earnings) on life insurance (1,036) (691)
Gain on life insurance (243) 0
Tax benefit of stock award issuances (201) (720)
Net change:    
Interest receivable and other assets 3,298 501
Interest payable and other liabilities (5,260) (5,122)
Total adjustments 1,393 3,165
Net cash from operating activities 24,794 27,443
Cash flows from investing activities:    
Proceeds from sale of securities available-for-sale 7,136 87,471
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 13,537 19,500
Proceeds from maturities, calls and principal paydowns of securities held-to-maturity 0 5
Purchases of securities available-for-sale 0 (4,046)
Purchase of life insurance (193) (153)
Net (increase) decrease in total loans (81,337) (50,273)
Proceeds from sales of land, premises and equipment 3 11
Purchases of land, premises and equipment (1,541) (2,155)
Purchase of Federal Home Loan Bank stock 0 0
Proceeds from redemption of Federal Home Loan Bank stock 0 0
Proceeds from sales of other real estate 0 0
Proceeds from life insurance 536 0
Net cash from investing activities (61,859) 50,360
Cash flows from financing activities:    
Net increase (decrease) in total deposits (102,440) 57,108
Net increase (decrease) in short-term borrowings 0 (22,000)
Proceeds from (payments on) short-term FHLB borrowings 150,000 (75,000)
Common dividends paid (12,299) (11,749)
Payments related to equity incentive plans (2,516) (3,124)
Purchase of treasury stock (208) (204)
Sale of treasury stock 391 405
Net cash from financing activities 32,928 (54,564)
Net change in cash and cash equivalents (4,137) 23,239
Cash and cash equivalents at beginning of the period 151,824 130,282
Cash and cash equivalents at end of the period 147,687 153,521
Cash paid during the period for:    
Interest 49,988 25,462
Income taxes $ 0 $ 0