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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) after taxes $ 49,887 $ 57,654 $ (26,907)
Adjustments to reconcile net income (loss)/net decrease in net assets resulting from operations to net cash provided by operating activities:      
Provision for loan losses 30,059 4,622 69,817
Paid-in-kind interest income (724) (814) (1,188)
Depreciation and amortization 5,229 6,519 7,714
Amortization of origination fees, net 8,707 7,996 6,022
(Decrease) increase in deferred and other tax liabilities, net 7,281 18,327 (8,776)
Net change in value of loan collateral in process of foreclosure 5,738 8,966 31,926
Net realized (gains) losses on sale of investments (2,779) (17,380) 4,305
Stock-based compensation expense 3,476 2,261 2,030
Gain on extinguishment of debt 0 (4,626) 0
Increase in accrued interest receivable (1,992) (283) (1,676)
Gain on disposition of RPAC 0 (715) 0
Decrease (increase) in other assets (3,919) (5,354) 2,223
Decrease (increase) in accounts payable and accrued expenses 6,382 2,694 (7,206)
(Decrease) Increase in accrued interest payable 1,395 (1,141) 422
Net cash provided by operating activities 108,740 78,726 78,706
CASH FLOWS FROM INVESTING ACTIVITIES      
Loans originated (1,000,785) (760,790) (506,106)
Proceeds from principal receipts, sales, and maturities of loans 535,067 464,448 321,831
Purchases of investments (20,713) (19,354) (15,580)
Proceeds from disposition of RPAC, net 0 17,676 0
Proceeds from principal receipts, sales, and maturities of investments 14,762 35,647 15,399
Proceeds from the sale and principal payments on loan collateral in process of foreclosure 22,664 24,052 13,499
Net cash used for investing activities (449,005) (238,321) (170,957)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from time deposits and funds borrowed 839,104 805,577 668,577
Repayments of time deposits and funds borrowed (483,671) (627,263) (526,064)
Treasury stock repurchased (20,619) 0 0
Distributions to non-controlling interests (6,047) (6,516) (6,043)
Cash dividend paid on common stock (7,543) 0 0
Proceeds from the exercise of stock options 155 241 0
Net cash provided by financing activities 321,379 172,039 136,470
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (18,886) 12,444 44,219
Cash and cash equivalents, beginning of period 124,484 [1] 112,040 [1] 67,821
Cash and cash equivalents, end of period [1] 105,598 124,484 112,040
SUPPLEMENTAL INFORMATION      
Cash paid during the period for interest 31,976 29,867 31,204
Cash paid during the period for income taxes 8,848 5,479 104
NON-CASH INVESTING      
Loans transferred to loan collateral in process of foreclosure, net 12,791 15,888 47,254
Loans transferred to other foreclosed property $ 0 $ 0 $ 1,800
[1] Includes federal funds sold.