v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 35,953 $ 29,271
Adjustments to reconcile net income to net cash provided by operating activities:    
Net accretion of acquisition accounting estimates (7,949) (6,737)
Provision for credit losses 981 2,556
Depreciation and amortization 7,150 8,126
Net amortization of securities (201) 64
Amortization of and valuation adjustments on mortgage servicing rights 322 536
Amortization of debt issuance costs 139 61
Gain on mortgage loans held for sale (2,608) (2,291)
Gain on other mortgage loan activity (135) (938)
Proceeds from sale of mortgage loans held for sale 95,830 82,070
Originations of loans held for sale (91,477) (94,125)
Stock-based compensation expense 1,925 970
Deferred income tax expense (benefit) (270) 156
Loss on sales and valuation adjustments of repossessed assets 621 123
Loss on disposal of fixed assets 0 48
Loss on disposal of premises held for sale 0 61
Loss on sales and valuation adjustments on other real estate owned 44 0
Fair value adjustment on equity securities 65 (106)
Bank-owned life insurance income (981) (1,287)
Net changes in:    
Accrued interest receivable (1,470) (253)
Other assets 1,170 (1,696)
Accrued interest payable (409) 88
Other liabilities 446 (5,251)
Net cash provided by operating activities 39,146 11,446
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of available for sale securities 26,823 12,573
Proceeds from maturities and principal payments of held to maturity securities 48,343 23,899
Purchases of available for sale securities (95,397) (48,171)
Purchases of held to maturity securities 0 (2,326)
Purchases of equity securities (97) (90)
Purchase of restricted securities (14) (158)
Net change in loans 28,859 (49,173)
Purchases of premises and equipment (1,654) (1,905)
Proceeds from sales of other real estate owned 69 0
Proceeds from sales of repossessed assets 728 1,531
Purchases of bank-owned life insurance (408) (152)
Proceeds from disposal of premises held for sale 0 843
Net cash provided by (used in) investing activities 7,252 (63,129)
Net changes in:    
Noninterest-bearing deposits 18,856 12,314
Interest-bearing deposits (152,970) (227,461)
Shares withheld as tax payments associated with settlement of restricted stock units (543) 0
Common stock dividends paid (8,749) (8,037)
Retirement of common stock (1,060) 0
Issuance of common stock 172 0
Net cash used in financing activities (144,294) (223,184)
Net decrease in cash and cash equivalents (97,896) (274,867)
Cash and cash equivalents at beginning of period 355,566 459,851
Cash and cash equivalents at end of period 257,670 184,984
Supplemental cash flow information:    
Interest paid 50,478 58,022
Income taxes paid 12,830 7,985
Recognition of lease liabilities arising from right-of-use assets 0 912
Transfers from loans to repossessed assets 832 947
Transfer from loans held for sale to loans held for investment 0 649
Unrealized (losses) gains on available for sale securities $ (2,059) $ 2,671