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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net earnings $ 24,143,000 $ 32,404,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 3,036,000 3,180,000
Amortization 556,000 563,000
Deferred taxes (1,157,000) (4,315,000)
Premium amortization, net of discount accretion 1,613,000 4,211,000
Net realized loss on sales of securities available for sale 229,000 0
Gain on sale of loans (1,005,000) (2,125,000)
Provision for (reversal of provision for) credit losses 0 (650,000)
Origination of loans held for sale (32,719,000) (62,579,000)
Proceeds from loans held for sale 34,374,000 66,084,000
Write-down of other real estate and repossessed assets 0 19,000
Net gain on sale of premises, equipment, other real estate owned and other assets (2,944,000) (923,000)
Stock based compensation 445,000 485,000
Net change in accrued interest receivable and other assets (21,196,000) (8,509,000)
Net change in accrued interest payable and other liabilities 2,778,000 420,000
Net cash provided by operating activities 8,153,000 28,265,000
Securities available for sale:    
Purchases (1,404,235,000) (28,952,000)
Proceeds from Sales 21,268,000 0
Proceeds from maturities and principal repayments 1,386,666,000 31,248,000
Securities held to maturity:    
Purchases 0 (1,043,343,000)
Proceeds from maturities and principal repayments 99,020,000 696,450,000
Net originations of loans 58,082,000 (358,088,000)
Purchases of premises and equipment (5,464,000) (4,574,000)
Proceeds from sale of premises, equipment, other real estate owned and other assets 3,498,000 1,853,000
Net cash provided by (used in) investing activities 158,835,000 (705,406,000)
Cash flows from financing activities    
Net change in deposits (22,861,000) 120,020,000
Net change in securities sold under agreements to repurchase 12,145,000 (6,559,000)
Proceeds from FHLB advances 2,480,000,000 325,000,000
Repayment of FHLB advances (2,595,000,000) (147,500,000)
Proceeds from line of credit 15,000,000 1,000,000
Repayment of line of credit (13,000,000) (6,000,000)
Proceeds from issuance of subordinated debt 0 34,402,000
Repayments of debentures (1,500,000) (3,093,000)
Purchase of treasury stock (10,539,000) (8,838,000)
Exercise of stock options 516,000 976,000
Cash dividends paid (8,039,000) (7,703,000)
Net cash (used in) provided by financing activities (143,278,000) 301,705,000
Net change in cash and cash equivalents 23,710,000 (375,436,000)
Cash and cash equivalents at beginning of period 106,467,000 499,605,000
Cash and cash equivalents at end of period 130,177,000 124,169,000
Supplemental disclosures of cash flow information    
Interest paid 39,832,000 7,307,000
Income taxes paid 6,580,000 7,100,000
Supplemental schedule of noncash investing and financing activities    
Cash dividends accrued 2,658,000 2,621,000
Lease right of use assets obtained in exchange for lease liabilities 568,000 337,000
Available for sale securities transferred to held to maturity, net of unrealized loss of $13,186 0 106,157,000
Transfer of loans to other real estate owned and repossessed assets 0 32,000
Contributions from noncontrolling interest $ 0 $ 577,000