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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net income $ 8,496 $ 30,836  
Adjustments to reconcile net income to net cash provided by operating activities:      
Reversal of provision for credit losses - loans (432) (1,136)  
Provision for credit losses - securities AFS 849 344  
Stock-based compensation expense 32 1,204  
Depreciation and amortization 1,104 974  
Deferred tax expense 2,761 3,431  
Amortization of premium (discount) on securities (173) (351)  
Amortization of core deposit intangible 434 509  
Amortization of mortgage servicing rights - net 599 549  
Amortization of OCI - securities transfer to HTM 616    
Valuation allowance on mortgage servicing rights - net (672) (201)  
Decrease in other assets 7,657 5,318  
Decrease in accounts payable and other liabilities (11,792) (1,138)  
Net cash provided by operating activities 9,479 40,339  
Cash Flows from Investing Activities:      
Net (increase) decrease in loans 54,387 (490,869)  
Purchase of premises and equipment (2,494) (1,222)  
Disposals of premises and equipment   3,375  
Recovery of allowance for credit losses 306 134  
Purchases of securities AFS   (400)  
Purchases of securities HTM   (83,008)  
Maturities of securities AFS 9,184 7,965  
Maturities of securities HTM 15,948 79,660  
Sale (purchase) of FHLB and FRB stock, net (33,358) 999  
Net cash provided by (used in) investing activities 43,973 (483,366)  
Cash Flows from Financing Activities:      
Increase (decrease) in deposits (310,906) 145,558  
Net increase in FHLB & other advances 995,000    
Line of credit net change - borrowings, net   (18,500)  
Net increase in subordinated debt 15 147,592  
Net decrease in repurchase agreements (70,351) (13,250)  
Gain on sale leaseback   (1,111)  
Dividends paid (6,199) (6,208)  
Proceeds from exercise of stock options 158 19  
Repurchase of stock (534) (1,120)  
Net cash provided by financing activities 607,183 252,980  
Increase (decrease) in cash and cash equivalents 660,635 (190,047)  
Cash and cash equivalents at beginning of year 656,494 1,121,757 $ 1,121,757
Cash and cash equivalents at end of period 1,317,129 931,710 656,494
Supplemental disclosures of cash flow information:      
Interest 65,720 3,893  
Noncash transactions:      
Transfer of securities from available-for-sale to held-to-maturity   916,777  
Goodwill acquisition adjustment   1,623  
Right of use lease assets and liabilities recognized 172    
Chargeoffs against allowance for credit losses $ 2,003 $ 145 $ 720