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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 33,220 $ 52,421
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 3,100 4,010
Provision for foreclosed asset losses 0 97
Depreciation and amortization 4,913 4,784
Accretion and amortization 2,095 2,731
Other gains, net (2) (248)
Gain on sale of subsidiary 0 (33,778)
Loss on sale of securities 0 3,409
Net gain on sales of loans (8,157) (9,077)
Proceeds from sales of loans held for sale 235,525 279,993
Loans originated for sale (224,947) (261,936)
Deferred income tax expense (1,938) 128
Earnings on bank-owned life insurance (1,145) (930)
Stock-based compensation 1,701 1,625
Change in valuation of mortgage servicing rights 2,685 875
Net change in:    
Accrued interest receivable and other assets 4,607 (4,744)
Accrued expenses and other liabilities 3,552 12,619
Net cash provided by operating activities 55,209 51,979
Activity in securities available for sale:    
Purchases (299,849) 0
Sales 0 52,828
Maturities, prepayments, and calls 328,763 31,930
Loan originations and principal collections, net (27,239) (247,869)
Purchases of premises and equipment (2,325) (4,682)
Proceeds from sales of premises and equipment 69 939
Proceeds from sale of subsidiary 0 36,080
Proceeds from sales of foreclosed assets 1,348 1,014
Net cash provided by (used in) investing activities 767 (129,760)
Cash flows from financing activities:    
Net change in deposits 93,207 214,184
Payments to tax authorities for stock-based compensation (132) (393)
Cash dividends paid on common stock (6,702) (6,609)
Payments to repurchase common stock (1,340) (11,860)
Net cash provided by financing activities 85,033 195,322
Net change in cash and cash equivalents 141,009 117,541
Beginning cash and cash equivalents 330,158 234,883
Ending cash and cash equivalents 471,167 352,424
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 71,479 49,406
Income taxes paid 8,321 16,231
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 1,407 1,012
Premises and equipment transferred to other real estate owned 0 172
Additions to mortgage servicing rights $ 689 $ 1,150