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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net earnings $ 17,853 $ 21,504
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,028 2,146
Amortization 376 397
Deferred taxes (1,157) (3,742)
Premium amortization, net of discount accretion 1,240 2,914
Net realized loss on sales of securities available for sale 229 0
Gain on sale of loans (787) (1,787)
Reversal of provision for credit losses 0 (1,250)
Origination of loans held for sale (22,127) (48,365)
Proceeds from loans held for sale 25,275 51,511
Net gain on sale of premises, equipment, other real estate owned and other assets (2,945) (38)
Stock based compensation 298 321
Net change in accrued interest receivable and other assets (982) (1,983)
Net change in accrued interest payable and other liabilities 2,251 1,067
Net cash provided by operating activities 21,552 22,695
Securities available for sale:    
Purchases (484,132) (17,201)
Proceeds from Sales 21,268 0
Proceeds from maturities and principal repayments 482,114 24,465
Securities held to maturity:    
Purchases 0 (1,033,052)
Proceeds from maturities and principal repayments 70,637 607,338
Net originations of loans 43,363 (230,359)
Purchases of premises and equipment (3,888) (2,882)
Proceeds from sale of premises, equipment, other real estate owned and other assets 3,492 77
Net cash provided by (used in) investing activities 132,854 (651,614)
Cash flows from financing activities    
Net change in deposits (78,337) 109,131
Net change in securities sold under agreements to repurchase 13,311 (6,280)
Proceeds from FHLB advances 1,725,000 124,000
Repayment of FHLB advances (1,820,000) (40,000)
Proceeds from line of credit 12,000 1,000
Repayment of line of credit 0 (6,000)
Proceeds from issuance of subordinated debt 0 34,336
Repayments of debentures (1,500) (3,093)
Purchase of treasury stock (8,850) (8,151)
Exercise of stock options 225 474
Cash dividends paid (5,371) (5,080)
Net cash (used in) provided by financing activities (163,522) 200,337
Net change in cash and cash equivalents (9,116) (428,582)
Cash and cash equivalents at beginning of period 106,467 499,605
Cash and cash equivalents at end of period 97,351 71,023
Supplemental disclosures of cash flow information    
Interest paid 24,150 3,312
Income taxes paid 4,080 4,400
Supplemental schedule of noncash investing and financing activities    
Cash dividends accrued 2,668 2,623
Lease right of use assets obtained in exchange for lease liabilities 568 337
Available for sale securities transferred to held to maturity, net of unrealized loss of $13,186 0 106,157
Transfer of loans to other real estate owned and repossessed assets 0 27
Contributions from noncontrolling interest $ 0 $ 580