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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities        
Net income $ 12,247 $ 8,820 $ 24,267 $ 20,699
Adjustments to reconcile net income to net cash provided by operating activities:        
Net premium / discount amortization on securities     3,300 1,095
Securities losses (gains), net 33 (2) 33 (2)
Release of provision for credit losses 550 (3,500) 550 (6,500)
Originations of loans held-for-sale     (49,648) (140,402)
Proceeds from sales of loans held-for-sale     53,204 150,571
Net gains on sales of mortgage loans 262 (1,895) (1,233) (5,616)
Mortgage servicing rights mark to market loss (82) 1,033 (3,060) (80)
Net accretion of discount on loans     (3,841) (588)
Net change in cash surrender value of BOLI (72) (423) (196) (757)
Net gains on sale of other real estate owned (81) (15) (130) (35)
Provision for other real estate owned valuation losses 104 61 104 67
Depreciation of fixed assets and amortization of leasehold improvements     2,101 1,528
Net gains on disposal and transfer of fixed assets     (1,961)  
Amortization of core deposit intangibles 659 115 1,324 235
Change in current income taxes receivable     (729) (1,487)
Deferred tax expense (benefit)     2,400 1,585
Change in accrued interest receivable and other assets     7,000 4,186
Accretion of purchase accounting adjustment on time deposits     (821)  
Change in accrued interest payable and other liabilities     (7,033) (615)
Stock based compensation     1,469 611
Net cash provided by operating activities     27,100 24,495
Cash flows from investing activities        
Proceeds from maturities and calls, including pay down of securities available-for-sale     148,429 68,122
Proceeds from sales of securities available-for-sale 3,303 8,202 3,303 8,202
Purchases of securities available-for-sale     (301,129) (162,663)
Proceeds from sales of FHLBC/FRBC stock     1,561  
Purchases of FHLBC/FRBC stock     (8,717)  
Net change in loans     (199,955) 133,357
Proceeds from sales of other real estate owned, net of participations and improvements     845 565
Proceeds from disposition of fixed assets     7,490  
Net purchases of premises and equipment     (1,526) (595)
Net cash used in investing activities     (349,699) 46,988
Cash flows from financing activities        
Net change in deposits     (122,556) 144,928
Net change in securities sold under repurchase agreements     (12,738) 1,586
Issuance of subordinated debentures, net of issuance costs       59,147
Repayment of term note     (2,000) (2,000)
Net change in notes payable and other borrowings, excluding term note     (6,056) (157)
Dividends paid on common stock     (4,423) (1,742)
Purchase of treasury stock     (400) (10,388)
Net cash provided by financing activities     (148,173) 191,374
Net change in cash and cash equivalents     (470,772) 262,857
Cash and cash equivalents at beginning of period     752,107 329,903
Cash and cash equivalents at end of period $ 281,335 $ 592,760 $ 281,335 $ 592,760