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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net Income $ 25,265 $ 25,116
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of mortgage loans held for sale (98,966) (77,838)
Proceeds from the sale of mortgage loans 95,804 71,780
Gain on sale of mortgage loans, net of origination costs (848) (761)
Provision (credit) for credit losses (1,452) 2,105
Depreciation and amortization expense 1,634 1,642
Investment securities amortization and accretion, net 885 1,218
Stock-based compensation expense 1,702 1,407
Amortization of core deposit intangible assets 278 296
Purchase accounting accretion, net (40) (81)
Increase (Decrease) In Derivative Collateral Received From Counterparties 11,350 6,540
Increase in other assets (4,112) (697)
Increase in other liabilities 748 923
Net cash provided by operating activities 32,248 31,650
Investing Activities    
Proceeds from maturities of available-for-sale debt securities 38,873 38,113
Proceeds from maturities and recoveries of held-to-maturity securities 15,064 13,227
Net increase in loans (46,306) (96,451)
Purchase of Federal Home Loan Bank stock (9,324) (25,105)
Proceeds from sale of Federal Home Loan Bank stock 7,613 23,164
Purchase of premises and equipment 1,833 1,034
Net cash provided by (used in) in investing activities 4,087 (48,086)
Financing Activities    
Net decrease in deposits (83,340) (133,184)
Net proceeds from borrowings less than 90 days 31,999 183,006
Proceeds from the Bank Term Funding Program 90,000 0
Repayment of Bank Term Funding Program (55,000) 0
Common stock repurchases 1,646 2,000
Issuance of restricted stock, net of repurchase for tax withholdings (115) (174)
Cash dividends paid on common stock 12,278 12,277
Finance lease payments (199) (84)
Net cash (used in) provided by financing activities (30,579) 35,287
Net increase in cash, cash equivalents and restricted cash 5,756 18,851
Cash, cash equivalents, and restricted cash at beginning of period 99,804 75,427
Cash, cash equivalents and restricted cash at end of period 105,560 94,278
Supplemental information    
Interest paid 58,711 41,157
Income taxes paid 5,260 4,894
Cash dividends declared, not paid 6,158 6,129
Change in fair value hedges presented within residential real estate loans and other assets $ 5,501 $ 6,070