v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 26,966 $ 24,702
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and intangibles amortization 6,857 7,543
Net accretion of discount on loans (3,561) (5,397)
Net accretion of discount on securities (2,769) (1,299)
Provision for credit losses 2,497 3,632
Deferred income tax expense 889 1,008
Stock-based compensation expense 1,956 1,966
Net change in operating leases 1,105 823
Bank-owned life insurance income (626) (610)
Federal Reserve Bank and Federal Home Loan Bank stock dividends (73) (238)
Loss (gain) on sale/write-down of assets 37 (417)
Excess tax benefit from stock-based compensation (480) 539
Decrease in accrued interest receivable and other assets (4,941) (8,946)
Decrease in accrued interest payable and other liabilities (11,349) (28,985)
Net cash provided by (used in) operating activities 16,508 (5,679)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of available for sale securities (1,237,330) (1,511,027)
Proceeds from maturities and principal paydowns of available for sale securities 1,553,525 1,392,366
Proceeds from sales and calls of available for sale securities 0 102,705
Net change in total loans (287,409) 170,741
Purchase of bank premises and equipment (268) (770)
Proceeds from sale of bank premises, equipment and other real estate 3,310 5,820
Net purchase of Federal Reserve Bank and Federal Home Loan Bank stock 0 (12,455)
Net cash provided by investing activities 31,828 147,380
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net decrease in noninterest-bearing deposits (197,287) (370,587)
Net increase (decrease) in interest-bearing deposits 157,830 (195,084)
Net change in borrowed funds 135,000 120,000
Dividends paid to common shareholders (7,779) (7,270)
Payments made the issuance of restricted stock and stock option exercises (1,810) (799)
Repurchase of common stock (4,173) (38,602)
Net cash provided by (used) in financing activities 81,781 (492,342)
NET CHANGE IN CASH AND CASH EQUIVALENTS 130,117 (350,641)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 419,453 911,216
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 549,570 $ 560,575