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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 36,991 $ 48,422
Items not requiring (providing) cash    
Credit loss expense (recovery) 922 (1,146)
Depreciation and amortization 5,268 5,205
Share based compensation 1,703 1,156
Amortization of mortgage servicing rights 547 1,394
Impairment (recovery) of mortgage servicing rights 0 (2,594)
Premium amortization on securities, net 5,265 6,126
Loss on sale of investment securities 480 0
Gain on sale of mortgage loans (1,790) (4,528)
Proceeds from sales of loans 62,541 150,838
Loans originated for sale (62,312) (139,049)
Gain on cash value life insurance (1,996) (1,029)
Gain on sale of other real estate owned (121) (618)
Net change in:    
Interest receivable (2,242) (2,859)
Interest payable 7,359 167
Other assets (299) (5,458)
Other liabilities (8,202) (578)
Net cash provided by operating activities 44,114 55,449
Investing Activities    
Purchases of securities available for sale (1,385) (179,075)
Proceeds from sales of securities available for sale 88,194 0
Proceeds from maturities, calls and principal repayments of securities available for sale 15,170 45,183
Purchases of securities held to maturity (9,605) (413,782)
Proceeds from maturities, calls and principal repayments of securities held to maturity 45,334 30,122
Net change in interest earning time deposits 360 983
Purchase of FHLB stock (7,832) (2,435)
Redemption of FHLB stock 0 198
Purchase of loans (62,489) 0
Net change in loans (48,049) (298,478)
Proceeds on the sale of OREO and repossessed assets 1,188 3,017
Premises and equipment expenditures (5,277) (3,224)
Proceeds from bank owned life insurance 0 3,554
Net cash used in investing activities 15,609 (813,937)
Financing Activities    
Net change in deposits (148,442) 42,594
Proceeds from borrowings 584,094 594,350
Repayment of borrowings (378,790) (360,763)
Net change in repurchase agreements 3,786 12,896
Net settlement of share awards (723) (1,696)
Exercise of stock options 0 94
Dividends paid on common stock (14,167) (13,647)
Net cash provided by financing activities 45,758 273,828
Net Change in Cash and Cash Equivalents 105,481 (484,660)
Cash and Cash Equivalents, Beginning of Period 123,505 593,508
Cash and Cash Equivalents, End of Period 228,986 108,848
Additional Supplemental Information    
Interest paid 49,910 8,308
Income taxes paid 1,554 650
Transfer of loans to other real estate and repossessed assets 1,452 342
Transfer of available for sale securities to held to maturity securities $ 0 $ 120,881