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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ 58,330 $ 60,111
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 21,102 12,688
Impairment loss on premises and equipment 0 1,069
Impairment loss on operating lease right-of-use asset 0 194
Depreciation and amortization of premises and equipment 2,270 2,582
Net accretion of securities (2,564) (943)
Net change in fair value of equity securities (894) (2)
Net losses on sales of securities available-for-sale 37 0
Net gains on sales of and disposal of premises and equipment (843) (460)
Net gains on sales of loans (10,352) (11,569)
Net gains on sales of leases (119) 0
Originations of U.S. government guaranteed loans (168,234) (143,643)
Proceeds from U.S. government guaranteed loans sold 124,600 106,830
Accretion of premiums and discounts on acquired loans, net (5,573) (7,940)
Net change in servicing assets 155 227
Net gains on sales and valuation adjustments of other real estate owned (28) (55)
Net amortization of other acquisition accounting adjustments 2,679 3,252
Amortization of subordinated debt issuance cost 87 87
Accretion of junior subordinated debentures discount 246 223
Share-based compensation expense 4,377 3,687
Deferred tax (benefit) provision (1,489) 5,298
Increase in cash surrender value of bank owned life insurance (1,768) (1,620)
Gain on death benefit on bank owned life insurance (587) 0
Changes in assets and liabilities:    
Accrued interest receivable and other assets 8,273 3,025
Accrued interest payable and other liabilities 13,621 69,441
Net cash provided by operating activities 43,326 102,482
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of securities available-for-sale (151,270) (209,158)
Proceeds from maturities and calls of securities available-for-sale 26,558 77,764
Proceeds from paydowns of securities available-for-sale 80,824 75,740
Proceeds from sales of securities available-for-sale 14,221 0
Proceeds from maturities and calls of securities held-to-maturity 605 550
Redemptions (purchases) of Federal Home Loan Bank stock, net 8,803 (15,471)
Proceeds from leases sold 12,184 0
Net change in loans and leases (289,717) (214,688)
Purchases of premises and equipment (3,100) (1,243)
Proceeds from sales of premises and equipment 0 365
Proceeds from sales of assets held for sale 2,146 1,459
Proceeds from sales of other real estate owned 1,016 480
Proceeds from bank owned life insurance death benefit 1,736 0
Net cash received in acquisition of business 61,834 0
Net cash used in investing activities (234,160) (284,202)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 72,597 169,620
Repayments of line of credit 0 (11,250)
Repayments of term loan (11,667) (3,333)
Proceeds from short-term borrowings 4,300,000 1,700,000
Repayments of short-term borrowings (4,495,000) (1,355,000)
Proceeds from BTFP advances 0 200,000
Net increase (decrease) in securities sold under agreements to repurchase 2,004 (6,869)
Dividends paid on common stock (9,148) (8,005)
Proceeds from issuance of common stock 1,043 878
Repurchases of common stock (13,783) 0
Net cash provided by financing activities (153,954) 686,041
NET CHANGE IN CASH AND CASH EQUIVALENTS (344,788) 504,321
CASH AND CASH EQUIVALENTS, beginning of period 563,138 226,136
CASH AND CASH EQUIVALENTS, end of period 218,350 730,457
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 104,445 102,417
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Transfer of loans to other real estate owned 596 5
Right of use asset exchanged for operating lease liabilties 2,143 1,115
Common share withholding 4,863 2,668
Due from counterparties 16,275 29,079
Total assets acquired from acquisition 321,991 0
Value ascribed to goodwill 147 0
Total liabilities assumed from acquisition 280,634 0
Common stock issued due to acquisition of business 41,303 0
Common dividend declared, not paid $ (87) $ (90)