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Consolidated Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income (loss) $ 26,357,000 $ 40,996,000
Items not requiring (providing) cash:    
Credit loss expense (benefit) 935,000 (6,963,000)
Depreciation 1,466,000 1,647,000
Amortization of premium and discounts on loans, securities, deposits and debt obligations 1,882,000 143,000
Amortization of mortgage servicing rights, net of impairment charges/recoveries 170,000 (2,976,000)
Amortization of intangibles 1,438,000 1,623,000
Change in deferred taxes 193,000 0
Proceeds from the sale of loans held for sale 122,952,000 258,544,000
Originations of loans held for sale (112,308,000) (249,607,000)
Mortgage banking gain, net (2,543,000) (5,640,000)
Gain/loss on sale / write-down of real estate and other assets held for sale (6,000) 6,000
Loss (gain) on sale of available for sale securities 0 (516,000)
Loss (gain) on equity securities 643,000 (1,610,000)
Stock based compensation expense 760,000 551,000
Restricted stock forfeitures for taxes and option exercises (216,000) (110,000)
Income from bank owned life insurance (996,000) (1,168,000)
Changes in:    
Accrued interest receivable and other assets (20,838,000) (9,833,000)
Other liabilities 12,124,000 (744,000)
Net cash provided by (used by) operating activities 32,013,000 24,343,000
Investing Activities    
Proceeds from maturities, calls and pay-downs of available-for-sale securities 32,299,000 41,123,000
Proceeds from sale of available-for-sale securities 0 22,380,000
Proceeds from sale of premises and equipment, real estate and other assets held for sale 44,000 117,000
Purchases of available-for-sale securities (122,459,000) (267,079,000)
Purchases of equity securities 0 (11,053,000)
Net change in Federal Home Loan Bank stock (3,747,000) 6,698,000
Purchases of premises and equipment, net (548,000) (120,000)
Proceeds from bank owned life insurance 0 892,000
Net (decrease) increase in loans receivable (91,416,000) 33,669,000
Net cash used by investing activities (185,827,000) (173,373,000)
Financing Activities    
Net increase in deposits and advance payments by borrowers 31,046,000 303,532,000
Net change in Federal Home Loan Bank advances 150,000,000 0
Net cash paid for repurchase of common stock (24,245,000) (1,078,000)
Cash dividends paid on common stock (10,787,000) (8,943,000)
Net cash provided by financing activities 146,014,000 293,511,000
Increase (decrease) in cash and cash equivalents (7,800,000) 144,481,000
Cash and cash equivalents at beginning of period 161,566,000 159,266,000
Cash and cash equivalents at end of period 153,766,000 303,747,000
Supplemental cash flow information:    
Interest paid $ 3,430,000 5,425,000
Income taxes paid   0
Initial recognition of right-of-use asset   500,000
Initial recognition of lease liability   500,000
Transfers from loans to real estate and other assets held for sale   $ 54,000