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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 44,855 $ 35,501
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 4,057 1,500
Depreciation and amortization 1,196 1,270
Net amortization of securities premiums and discounts 35 275
Increase in cash surrender value of BOLI (950) (1,102)
Gain on BOLI death benefit (4,346) 0
Decrease/(increase) in deferred income taxes, net 1,773 (1,127)
Loss/(gain) on sale of securities available-for-sale 5,686 (2)
Net changes in:    
Other assets (2,636) (7,797)
Other liabilities 16,671 22,823
Net cash provided by operating activities 66,341 51,341
Cash flows from investing activities:    
Net change in loans and leases held-for-investment 6,388 (12,568)
Purchase of available-for-sale securities (4,515) (10,090)
Purchase of held-to-maturity securities (2,071) (168,149)
Proceeds from sales, maturities, calls and pay downs of available-for-sale securities 43,885 27,679
Proceeds from maturities, calls and pay downs of held-to-maturity securities 23,498 36,641
Purchase of premises and equipment (3,239) (526)
Purchase of other investments (2,166) (3,440)
Proceeds from bank-owned life insurance 11,752 0
Proceeds from sale of assets 27 34
Net cash provided by (used in) investing activities 73,559 (130,419)
Cash flows from financing activities:    
Net (decrease) increase in deposits (120,956) 129,361
Cash dividends paid (6,286) (6,110)
Net cash used in share repurchase of common stock (13,943) (11,845)
Net cash (used in) provided by financing activities (141,185) 111,406
Net change in cash and cash equivalents (1,285) 32,328
Cash and cash equivalents, beginning of period 588,257 715,460
Cash and cash equivalents, end of period 586,972 747,788
Supplemental disclosures of cash flow information:    
Cash paid for interest 9,907 2,580
Income taxes paid 16 9,343
Supplemental disclosures of non-cash transactions:    
Net change in unrealized gain/(losses) on securities available-for-sale $ 6,857 $ (27,301)