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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 38,927 $ 30,161
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 4,710 (2,085)
Provision for foreclosed asset losses 97 0
Depreciation and amortization 3,240 3,508
Accretion and amortization 1,980 2,077
Other gains, net (212) (59)
Gain on sale of subsidiary (33,488) 0
Loss on sale of securities 3,409 0
Net gain on sales of loans (6,446) (13,472)
Proceeds from sales of loans held for sale 233,170 492,086
Loans originated for sale (219,212) (442,236)
Deferred income tax expense (benefit) (148) 2,411
Earnings on bank-owned life insurance (630) (596)
Stock-based compensation 1,114 1,177
Change in valuation of mortgage servicing rights 1,550 (5,625)
Net change in:    
Accrued interest receivable and other assets (4,759) 1,042
Accrued expenses and other liabilities 2,423 21,058
Net cash provided by operating activities 25,725 89,447
Activity in securities available for sale:    
Purchases 0 (176,713)
Sales 52,828 0
Maturities, prepayments, and calls 20,418 48,318
Loan originations and principal collections, net (232,692) (143,497)
Purchases of premises and equipment (3,452) (1,998)
Proceeds from sales of premises and equipment 896 239
Proceeds from sale of subsidiary 35,500 0
Proceeds from sales of foreclosed assets 692 1,750
Net cash used in investing activities (125,810) (271,901)
Cash flows from financing activities:    
Net change in deposits 168,092 84,615
Payments to tax authorities for stock-based compensation (342) (195)
Cash dividends paid on common stock (4,419) (3,889)
Payments to repurchase common stock (2,548) (9,208)
Net cash provided by financing activities 160,783 71,323
Net change in cash and cash equivalents 60,698 (111,131)
Beginning cash and cash equivalents 234,883 486,821
Ending cash and cash equivalents 295,581 375,690
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 28,552 6,619
Income taxes paid 1,082 2,776
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 697 353
Premises and equipment transferred to other real estate owned 172 0
Additions to mortgage servicing rights $ 734 $ 2,180