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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 $ 10,936 $ 12,812
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 700 800
Depreciation of premises and equipment 1,001 975
Net amortization of premiums and discounts on securities and loans 265 324
Amortization of intangibles 208 212
Share-based compensation 753 858
Tax benefit (expense) from stock option exercises and other equity awards (7) (1)
Income from bank-owned life insurance [1] (739) (1,165)
Net gains on loan sales, including changes in fair value (1,910) (662)
Proceeds from sales of loans, net 70,480 25,378
Loans originated for sale (74,643) (23,394)
(Increase) decrease in operating lease right-of-use assets 148 986
Increase (decrease) in operating lease liabilities (190) (936)
(Increase) decrease in other assets (5,806) (4,917)
Increase (decrease) in other liabilities 752 (176)
Net cash provided by (used in) operating activities 1,948 11,094
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale 0 (39,966)
Purchases of other debt securities available for sale 0 (20,221)
Maturities, calls and principal payments of mortgage-backed securities available for sale 15,265 16,136
Maturities, calls and principal payments of other debt securities available for sale 0 250
Net redemption (purchases) of Federal Home Loan Bank stock (3,619) 962
Net (increase) decrease in loans (36,251) (116,609)
Purchases of loans (597) (1,709)
Purchases of premises and equipment (626) (1,144)
Proceeds from bank-owned life insurance 0 1,566
Equity investments in real estate limited partnership (758) (6,632)
Purchases of other equity investments, net (125) 0
Net cash provided by (used in) investing activities (26,711) (167,367)
Cash flows from financing activities:    
Net increase (decrease) in deposits (267) 249,552
Proceeds from Federal Home Loan Bank advances 860,000 1,005,000
Repayments of Federal Home Loan Bank advances (810,000) (1,060,000)
Purchases of treasury stock 0 (8,741)
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (17) (31)
Cash dividends paid (9,549) (9,649)
Net cash provided by (used in) financing activities 40,167 176,131
Net increase (decrease) in cash and cash equivalents 15,404 19,858
Cash and cash equivalents at beginning of period 90,184 118,422
Cash and cash equivalents at end of period 105,588 138,280
Noncash Activities:    
Loans charged off 70 61
Loans transferred to property acquired through foreclosure or repossession 0 683
Commitment for equity investment in real estate limited partnerships 2,240 1,728
Supplemental Disclosures:    
Interest payments 54,584 27,585
Income tax payments $ 3,416 $ 936
[1] As reported in the Unaudited Consolidated Statements of Income.