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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities        
Net income $ 19,523 $ 8,412 $ 43,790 $ 29,111
Adjustments to reconcile net income to net cash provided by operating activities:        
Net premium / discount amortization on securities     4,259 1,736
Securities losses (gains), net 1 (244) 34 (246)
Provision for (release of) credit losses 4,500 (1,500) 5,050 (8,000)
Originations of loans held-for-sale     (65,103) (191,679)
Proceeds from sales of loans held-for-sale     69,263 207,339
Net gains on sales of mortgage loans (449) (2,186) (1,682) (7,802)
Mortgage servicing rights mark to market (gain) loss (548) 282 (3,608) 202
Net accretion of discount on loans and unfunded commitments     (5,473) (618)
Net change in cash surrender value of BOLI (146) (406) (342) (1,163)
Net gains on sale of other real estate owned (33) (5) (163) (40)
Provision for other real estate owned valuation losses   (2) 104 65
Depreciation of fixed assets and amortization of leasehold improvements     3,079 2,286
Net gains on disposal and transfer of fixed assets     (1,872)  
Amortization of core deposit intangibles 657 113 1,981 348
Change in current income taxes receivable     7,279 329
Deferred tax (benefit) expense     (1,854) 1,796
Change in accrued interest receivable and other assets     1,036 2,973
Accretion of purchase accounting adjustment on time deposits     (1,207)  
Change in accrued interest payable and other liabilities     3,314 13,016
Stock based compensation     2,176 1,113
Net cash provided by operating activities     60,061 50,766
Cash flows from investing activities        
Proceeds from maturities and calls, including pay down of securities available-for-sale     231,483 91,931
Proceeds from sales of securities available-for-sale   26,873 3,303 35,075
Purchases of securities available-for-sale     (301,649) (352,236)
Proceeds from sales of FHLBC/FRBC stock     2,561  
Purchases of FHLBC/FRBC stock     (8,717)  
Net change in loans     (443,628) 168,551
Proceeds from sales of other real estate owned, net of participations and improvements     941 607
Proceeds from disposition of premises and equipment     12,167  
Net purchases of premises and equipment     (2,670) (929)
Cash paid for acquisition, net of cash and cash equivalents acquired     (146)  
Net cash used in investing activities     (506,355) (57,001)
Cash flows from financing activities        
Net change in deposits     (183,666) 177,256
Net change in securities sold under repurchase agreements     (14,840) (24,018)
Net change in other short-term borrowings     25,000  
Issuance of subordinated debentures, net of issuance costs       59,148
Repayment of term note     (3,000) (3,000)
Net change in notes payable and other borrowings, excluding term note     (6,056) (235)
Dividends paid on common stock     (6,650) (3,177)
Purchase of treasury stock     (447) (10,389)
Net cash (used in) provided by financing activities     (189,659) 195,585
Net change in cash and cash equivalents     (635,953) 189,350
Cash and cash equivalents at beginning of period     752,107 329,903
Cash and cash equivalents at end of period $ 116,154 $ 519,253 $ 116,154 $ 519,253