Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 22,557 $ 17,672
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 862 801
Amortization of servicing assets - net 612 668
Share-based compensation expense 707 873
Credit loss expense 2,892 2,721
Gain on sales of other real estate owned (850)  
Gain on sales of SBA loans (2,102) (2,000)
Origination of loans held for sale (62,542) (35,420)
Proceeds from sales of loans 67,749 45,007
Gain on sales of residential mortgage loans (485) (175)
Change in bank-owned life insurance 163 (308)
Change in prepaid expenses and other assets (211) 1,157
Change in income tax assets 3,808 2,660
Change in accrued interest payable and other liabilities (9,283) (7,298)
Net cash provided by operating activities 23,877 26,358
Cash flows from investing activities:    
Purchases of securities available for sale (35,715) (32,466)
Proceeds from matured, called and repayment of securities 76,846 45,141
Purchases of loans 0 (34,301)
Purchases of premises and equipment (499) (263)
Proceeds from disposition of premises and equipment 0 14
Proceeds from sales of other real estate owned ("OREO") 2,830  
Change in loans, excluding purchases and sales 15,155 (9,122)
Net cash provided by (used in) investing activities 58,617 (30,997)
Cash flows from financing activities:    
Change in deposits 122,972 183,699
Change in open FHLB advances 0 (145,000)
Repayments of FHLB term advances (150,000)  
Cash paid for surrendered employee vested shares due to tax liability (1,080) (579)
Repurchase of common stock (4,812) (1,125)
Cash dividends paid (8,370) (8,153)
Net cash provided by (used in) financing activities (41,290) 28,842
Net increase in cash and due from banks 41,204 24,203
Cash and due from banks at beginning of year 212,841 304,800
Cash and due from banks at end of period 254,045 329,003
Supplemental disclosures of cash flow information:    
Interest paid 43,140 49,343
Income taxes paid 336 550
Non-cash activities:    
Income tax benefit (expense) related to other comprehensive income items 896 (4,256)
Right-of-use asset obtained in exchange for lease liability $ (3,722) $ (4,442)