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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 44,043 $ 47,308
Adjustments to reconcile net income to net cash provided by operations:    
Provision for credit loss expense 4,751 5,639
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 5,803 5,256
Accretion of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (2,968) (2,246)
Net amortization of deferred costs on borrowings 227 227
Accretion of deferred PPP processing fees (3) (1,870)
Net realized gains on sales of available-for-sale securities (52) (651)
Net realized and unrealized losses on equity securities 930 1,433
Gain on sale of loans held for sale (342) (1,176)
Net losses on dispositions of premises and equipment and foreclosed assets 27 40
Proceeds from sale of loans receivable 12,390 25,435
Origination of loans held for sale (13,730) (30,838)
Income on bank owned life insurance (2,211) (1,895)
Gain on bank owned life insurance (death benefit proceeds in excess of cash surrender value) 0 (883)
Restricted stock compensation expense 1,311 1,013
Stock-based contribution expense 0 84
Change in:    
Accrued interest receivable and other assets (7,231) (20,953)
Accrued interest payable, lease liabilities, and other liabilities (13,640) 12,359
NET CASH PROVIDED BY OPERATING ACTIVITIES 29,305 38,282
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, prepayments and calls of available-for-sale securities 29,795 59,673
Proceeds from sales of available-for-sale securities 13,151 22,164
Purchase of available-for-sale securities (15,103) (48,383)
Proceeds from maturities, prepayments and calls of held-to-maturity securities 14,226 20,235
Purchases of held-to-maturity securities 0 (213,853)
Purchase of equity securities (263) (302)
Proceeds from loans classified as portfolio loans 4,994 0
Net increase in loans receivable (220,188) (380,348)
Purchase of bank owned life insurance 0 (2,750)
Proceeds from death benefit of bank owned life insurance policies 0 3,273
Redemption (purchase) of FHLB, other equity, and restricted equity interests 2,386 (647)
Purchase of premises and equipment (8,955) (8,278)
Purchase of other intangible assets (125) 0
Proceeds from the sale of premises and equipment and foreclosed assets 52 47
NET CASH USED BY INVESTING ACTIVITIES (180,030) (549,169)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in checking, money market and savings accounts 272,065 (29,444)
Net increase (decrease) in certificates of deposit 108,279 (62,364)
Purchase of treasury stock (6,659) (1,671)
Cash dividends paid, common stock (11,038) (8,861)
Cash dividends paid, preferred stock (3,226) (3,226)
Proceeds from common stock offering, net of issuance costs 0 94,051
Net change in short-term borrowings (132,396) 0
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 227,025 (11,515)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 76,300 (522,402)
CASH AND CASH EQUIVALENTS, Beginning 106,285 732,198
CASH AND CASH EQUIVALENTS, Ending 182,585 209,796
Cash paid during the period for:    
Interest 71,007 13,878
Income taxes 8,577 12,743
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers to other real estate owned 625 520
Transfers from loans held for sale to loans held for investment 1,513 6,352
Transfers from loans held for investment to loans held for sale 166 0
Transfers from available-for-sale to held-to-maturity 0 220,757
Grant of restricted stock awards from treasury stock 2,743 986
Grant of performance based restricted stock awards from treasury stock 111 173
Restricted stock forfeiture 90 30
Contribution of stock from treasury stock 0 44
Lease liabilities arising from obtaining right-of-use assets $ 5,001 $ 9,066