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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 79,519 $ 34,612
Adjustments to reconcile income to net cash provided by operating activities:    
Provision for credit losses 11,672 12,450
Depreciation 5,047 5,305
Deferred tax expense 65 671
Amortization of net premium on securities 791 1,737
Accretion of net discount on acquired loans (2,451) (1,832)
Net change in deferred loan origination fees and costs (282) 398
Amortization of core deposits and other intangible assets 3,993 2,197
Amortization of software implementation costs 610 639
Amortization of premium on acquired deposits (770) (743)
Accretion of discount on subordinated debt 190 191
Amortization of issuance costs on subordinated debt 110 108
Accretion of discount on convertible notes payable 101 1,093
Accretion of discount (amortization of premium) on Federal Home Loan Bank advances 0 64
Increase in cash surrender value of bank-owned life insurance (1,418) (1,222)
Impairment of premises and equipment 0 720
Impairment of other real estate owned and foreclosed assets 285 21
Federal Home Loan Bank stock dividends (1,372) (238)
Share-based compensation expense 1,743 1,093
Decrease (increase) in fair value of mortgage servicing rights 695 (14,777)
Net loss on disposal of premises and equipment 34 86
Net (loss) gain on other real estate owned and foreclosed assets activity 643 (164)
Net gain on sales of loans held-for-sale (2,997) (10,498)
Origination of loans held-for-sale (669,412) (899,200)
Proceeds from sales of loans held-for-sale 670,634 937,343
Changes in operating assets and liabilities:    
Lease right-of-use assets (478) 0
Accrued interest receivable (8,675) (6,255)
Prepaid expenses and other assets (20,428) (32,474)
Accrued interest payable 4,064 297
Accrued expenses and other liabilities 10,329 10,666
Deferred tax assets 1,944 0
Net cash provided by (used in) operating activities 84,186 42,288
Cash flows from investing activities:    
Cash acquired in excess of cash paid in connection with Pioneer Merger 0 444,541
Proceeds from maturities of held-to-maturity securities 1,555 3,027
Purchases of available-for-sale securities (5,201) (66,606)
Proceeds from sale or maturities of available-for-sale securities 32,203 157,399
Loan originations, net of repayments (272,090) (707,439)
Purchases of premises and equipment (1,367) (1,795)
Proceeds from the sale of premises and equipment 0 2
Proceeds from sales of other real estate owned and foreclosed assets 1,101 867
Purchases of restricted equity securities (33,061) (18,549)
Proceeds from the sale or redemption of restricted equity securities 49,251 9,471
Purchase of other investments (1,777) (388)
Proceeds from the sale or redemption of other investments 158 745
Net cash used in investing activities (229,228) (178,725)
Cash flows from financing activities:    
Net change in deposits 575,554 (285,868)
Net change in securities sold under agreements to repurchase (10,854) (40,837)
Proceeds from Federal Home Loan Bank advances 1,547,000 170,884
Repayments of Federal Home Loan Bank advances (1,860,885) (60,000)
Repayments of convertible notes payable (5,456) (15,217)
Proceeds from subordinated debt, net 0 24,466
Proceeds from issuance of common stock, net of issuance costs 44 (414)
Net cash provided by (used in) financing activities 245,403 (206,986)
Net increase (decrease) in cash and cash equivalents 100,361 (343,423)
Cash and cash equivalents, beginning of period 343,526 668,462
Cash and cash equivalents, end of period 443,887 325,039
Supplemental disclosures of cash flow information:    
Interest paid on deposits 59,999 6,726
Interest paid on borrowed funds 18,675 6,605
Cash paid for income taxes, net 23,152 10,276
Non-cash investing and financing activities:    
Assets acquired from Merger with Pioneer Bancshares, Inc. 0 1,085,506
Liabilities assumed from Merger with Pioneer Bancshares, Inc. 0 1,354,387
Net change in unrealized loss on available-for-sale securities and unrealized gain on fair value hedges of securities available-for-sale (13,117) (59,262)
Loan charge-offs 4,019 2,412
Premises and equipment transferred to other real estate owned and foreclosed assets 0 338
Loans transferred to other real estate owned and foreclosed assets 4,065 291
Premises and equipment transferred (from) to other assets 387 64
Mortgage servicing rights resulting from sale or securitization of mortgage loans $ 7,634 $ 11,681