XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 23,188 $ 36,012
Adjustments to reconcile net income to net cash used by operating activities:    
Provision for credit losses 5,036 3,552
Net amortization of securities premiums/discounts 338 821
Proceeds from sale of loans 331,775 510,260
Loans originated for sale (322,929) (471,314)
Accretion of net deferred loan costs/fees and premiums (94) (315)
Depreciation and amortization of premises and equipment 2,872 2,924
Change in mortgage servicing rights fair value 1,131 (7,963)
Mortgage servicing rights capitalized (2,194) (3,630)
Accretion of fair value adjustment on loans and deposits, net (251) (1,043)
Amortization of other intangible assets 568 703
Amortization of subordinated debt issuance costs 95 95
Net gains on mortgage loan sales, including fair value adjustments (8,098) (12,109)
Bank-owned life insurance income (1,542) (1,480)
Income on retirement plan annuities (393) (338)
Write-down of asset held for sale   196
Net loss on disposal of premises and equipment 17 41
Net gain on sale and write-down of other real estate owned and repossessed assets (12) (30)
ESOP expense 1,885 2,456
Share-based compensation expense 1,607 2,744
Net change in:    
Increase in operating lease ROU assets 1,478 1,019
Increase in operating lease liabilities (1,473) (976)
Change in other assets (9,393) (13,909)
Change in other liabilities 45,973 5,570
Net cash provided by operating activities 69,584 53,286
Activity in securities available for sale:    
Maturities, prepayments and calls 16,731 37,659
Purchases   (16,102)
Activity in securities held to maturity:    
Maturities, prepayment and calls 160  
Purchases   (15,000)
Net redemption (purchase) of FHLB stock (3,307) (10,042)
Proceeds on asset held for sale   685
Loan pool purchase   (58,311)
Participation-in loan purchases (31,443) (116,144)
Net loan originations (145,625) (415,391)
Proceeds from sale of other real estate owned and repossessed assets 282 247
Additions to property and equipment (3,565) (1,335)
Net cash used by investing activities (166,767) (593,734)
Cash flows from financing activities:    
Net increase in deposits 220,355 200,379
Net change in short-term borrowed funds (135,000) 330,000
Proceeds from FHLB borrowings 255,000  
Repayment of FHLB borrowings (45,204) (40,027)
Net change in mortgagors' escrow accounts 618 1,383
Proceeds from exercise of stock options   6,869
Treasury stock purchased (39,419) (57,266)
Dividends paid (10,400) (9,655)
Net cash provided by financing activities 245,950 431,683
Net change in cash and cash equivalents 148,767 (108,765)
Cash and cash equivalents at beginning of period 98,017 194,719
Cash and cash equivalents at end of period 246,784 85,954
Supplemental cash flow information:    
Interest paid on deposits 59,691 6,667
Interest paid on borrowed funds 21,242 3,248
Income taxes paid, net 7,507 8,020
Transfer of loans to other real estate owned and repossessed assets 228 238
Dividends declared $ 9,696 $ 9,778