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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 22,008 $ 38,927
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 2,605 4,710
Provision for foreclosed asset losses 0 97
Depreciation and amortization 3,257 3,240
Accretion and amortization 1,346 1,980
Other gains, net (50) (212)
Gain on sale of subsidiary 0 (33,488)
Loss on sale of securities 0 3,409
Net gain on sales of loans (5,442) (6,446)
Proceeds from sales of loans held for sale 154,753 194,977
Loans originated for sale (151,879) (181,019)
Deferred income tax expense (944) (148)
Earnings on bank-owned life insurance (750) (630)
Stock-based compensation 1,138 1,114
Change in valuation of mortgage servicing rights 625 1,550
Net change in:    
Accrued interest receivable and other assets 3,916 (4,759)
Accrued expenses and other liabilities 6,754 2,423
Net cash provided by operating activities 37,337 25,725
Activity in securities available for sale:    
Purchases (299,849) 0
Sales 0 52,828
Maturities, prepayments, and calls 320,058 20,418
Loan originations and principal collections, net (82,575) (232,692)
Purchases of premises and equipment (1,552) (3,452)
Proceeds from sales of premises and equipment 69 896
Proceeds from sale of subsidiary 0 35,500
Proceeds from sales of foreclosed assets 889 692
Net cash used in investing activities (62,960) (125,810)
Cash flows from financing activities:    
Net change in deposits (1,640) 168,092
Payments to tax authorities for stock-based compensation (132) (342)
Cash dividends paid on common stock (4,417) (4,419)
Payments to repurchase common stock (340) (2,548)
Net cash provided by (used in) financing activities (6,529) 160,783
Net change in cash and cash equivalents (32,152) 60,698
Beginning cash and cash equivalents 330,158 234,883
Ending cash and cash equivalents 298,006 295,581
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 45,667 28,552
Income taxes paid 3,625 1,082
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 732 697
Premises and equipment transferred to other real estate owned 0 172
Additions to mortgage servicing rights $ 482 $ 734