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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Operating activities          
Net income $ 8,473,000 $ 16,652,000 $ 30,392,000 $ 46,746,000  
Adjustments to reconcile net income to net cash from Operating activities:          
Depreciation and amortization of premises and equipment     1,520,000 1,869,000  
Net accretion of securities, loans, deposits, and other     (4,257,000) (391,000)  
Amortization of investment in affordable housing tax credits     846,000 778,000  
Amortization of intangible assets     1,976,000 3,023,000  
Amortization of right-of-use asset     3,765,000 3,858,000  
Change in operating lease liabilities     (3,525,000) (3,754,000)  
Provision for credit losses 1,399,000 1,766,000 3,793,000 3,048,000  
Stock-based compensation     609,000 680,000  
Deferred tax benefit     395,000 72,000  
Gain on sale of loans (212,000) (265,000) (258,000) (1,783,000)  
Gain on sale of OREO (190,000) 0 (190,000) 0  
Gain on sale of fixed assets (32,000) 0 (32,000) (757,000)  
Increase in cash surrender value of life insurance     (1,036,000) (986,000)  
Loans originated and purchased for sale, net     (10,236,000) (37,612,000)  
Proceeds from loans sold     14,626,000 56,480,000  
Other items     21,716,000 17,000  
Net cash provided by operating activities     60,104,000 71,288,000  
Investing activities          
Purchases     (592,177,000) (340,226,000)  
Maturities, repayments and calls     493,220,000 412,480,000  
Securities held to maturity:          
Maturities, repayments and calls     500,000 500,000  
Purchase of other equity securities, net     (378,000) (1,208,000)  
Net increase of investment in qualified affordable housing projects     (72,000) (133,000)  
Net decrease (increase) in loans     188,856,000 (294,693,000)  
Proceeds from sales of OREO     483,000 0  
Net cash received in connection with a branch purchase     0 71,352,000  
Proceeds from sale of fixed assets     32,000 757,000  
Purchases of premises and equipment     (614,000) (1,473,000)  
Net cash provided by (used in) investing activities     89,850,000 (152,644,000)  
Financing activities          
Net decrease in demand deposits and savings accounts     (233,667,000) (502,364,000)  
Net increase (decrease) in time deposits     409,913,000 (5,028,000)  
Proceeds from FHLB advances     80,000,000 470,000,000  
Repayments of FHLB Advances     (150,000,000) (380,000,000)  
Cash dividends paid     (9,116,000) (8,074,000)  
Common stock repurchased, net of repurchased costs     0 (18,807,000)  
Exercise of stock options   2,600,000 159,000 5,436,000  
Net cash provided by (used in) financing activities     97,289,000 (438,837,000)  
Net increase (decrease) in cash and cash equivalents     247,243,000 (520,193,000)  
Cash and cash equivalents at beginning of period     83,548,000 694,372,000 $ 694,372,000
Cash and cash equivalents at end of period $ 330,791,000 $ 174,179,000 330,791,000 174,179,000 $ 83,548,000
Cash paid during the period:          
Interest paid     64,936,000 15,500,000  
Taxes paid     2,829,000 19,263,000  
Non-cash investing and financing activities:          
Loans transfer to held for sale, net     4,194,000 12,313,000  
Additions to servicing assets     186,000 727,000  
Net change in unrealized holding gain on securities available for sale     (5,838,000) (30,140,000)  
Recognition of operating lease right-of-use assets     (8,267,000) (6,172,000)  
Recognition of operating lease liabilities     8,267,000 6,172,000  
Acquisition:          
Assets acquired, net of cash received     0 8,183,000  
Liabilities assumed     0 81,790,000  
Cash considerations     0 (71,040,000)  
Goodwill     $ 0 $ 2,255,000