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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 34,612 $ 34,347
Adjustments to reconcile income to net cash provided by operating activities:    
Provision for loan losses 12,450 1,750
Depreciation 5,305 4,716
Deferred tax expense 671 2,862
Amortization of net premium on securities 1,737 2,617
Accretion of net discount on acquired loans (1,832) (1,001)
Amortization of deferred loan origination fees and costs 398 (407)
Amortization of core deposits and other intangible assets 2,197 1,062
Amortization of software implementation costs 639 844
Amortization of premium on acquired deposits (743) (45)
Accretion of discount on subordinated debt 191 192
Amortization of issuance costs on subordinated debt 108 70
Accretion of discount on convertible notes payable 1,093 559
Accretion of discount on Federal Home Loan Bank advances 64 0
Increase in cash surrender value of bank-owned life insurance (1,222) (954)
Impairment of premises and equipment 720 23
Impairment of other real estate owned and foreclosed assets 21 240
Federal Home Loan Bank stock dividends (238) (306)
Share-based compensation expense 1,093 1,501
Decrease (increase) in fair value of mortgage servicing rights (14,777) 3,706
Net loss on disposal of premises and equipment 86 75
Net gain on other real estate owned and foreclosed assets activity (164) (591)
Net gain on sales of loans held-for-sale (10,498) (50,224)
Origination of loans held-for-sale (899,200) (1,693,782)
Proceeds from sales of loans held-for-sale 937,343 1,797,219
Changes in operating assets and liabilities:    
Accrued interest receivable (6,255) (1,233)
Prepaid expenses and other assets (32,474) 2,231
Accrued interest payable 297 176
Accrued expenses and other liabilities 10,666 (23,610)
Net cash provided by operating activities 42,288 82,735
Cash flows from investing activities:    
Cash acquired in excess of cash paid in connection with Pioneer Merger 444,541 0
Proceeds from maturities of held-to-maturity securities 3,027 12,097
Purchases of available-for-sale securities (66,606) (164,914)
Proceeds from sale or maturities of available-for-sale securities 157,399 97,499
Loan originations, net of repayments (707,439) 19,632
Proceeds from the sale of loans held-for-sale previously classified as held-for-investment 0 18,544
Purchases of premises and equipment (1,795) (2,891)
Proceeds from the sale of premises and equipment 2 1,192
Proceeds from sales of other real estate owned and foreclosed assets 867 1,221
Purchases of restricted equity securities (18,549) (49)
Proceeds from the sale or redemption of restricted equity securities 9,471 6,603
Purchase of other investments (388) (324)
Proceeds from the sale or redemption of other investments 745 519
Net cash used in investing activities (178,725) (10,871)
Cash flows from financing activities:    
Net change in deposits (285,868) 704,481
Net change in securities sold under agreements to repurchase (40,837) 1,629
Proceeds from Federal Home Loan Bank advances 170,884 0
Repayments of Federal Home Loan Bank advances (60,000) (30,411)
Repayment of convertible notes payable (15,217) 0
Proceeds from subordinated debt, net 24,466 0
Proceeds from issuance of common stock, net of issuance costs (414) 0
Net cash (used in) provided by financing activities (206,986) 675,699
Net (decrease) increase in cash and cash equivalents (343,423) 747,563
Cash and cash equivalents, beginning of period 668,462 201,978
Cash and cash equivalents, end of period 325,039 949,541
Supplemental disclosures of cash flow information:    
Interest paid on deposits 6,726 6,869
Interest paid on borrowed funds 6,605 4,362
Cash paid for income taxes, net 10,276 4,930
Non-cash investing and financing activities:    
Assets acquired from Merger with Pioneer Bancshares, Inc. 1,085,506 0
Liabilities assumed from Merger with Pioneer Bancshares, Inc. 1,354,387 0
Net change in unrealized loss on available-for-sale securities (62,473) (2,270)
Loan charge-offs 2,412 3,242
Premises and equipment transferred to other real estate owned and foreclosed assets 338 0
Loans transferred to other real estate owned and foreclosed assets 291 3,264
Other assets transferred to Premises and equipment 64 0
Mortgage servicing rights resulting from sale or securitization of mortgage loans $ 11,681 $ 18,533