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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows provided by (used in) operating activities    
Net income (loss) $ (29,990) $ 26,225
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 42,452 5,038
Amortization of intangible assets 3,083 2,409
Amortization of mortgage servicing rights 168 468
Depreciation and amortization of premises and equipment 2,649 2,378
Net amortization (accretion) on portfolio loans (1,164) 1,629
Net amortization (accretion) of premium (discount) on investment securities 1,437 2,535
Net amortization (accretion) of premium (discount) on time deposits (659) (20)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 433 265
Impairment of fixed assets held for sale 188 48
Impairment of mortgage servicing rights (2) 1
Unrealized (gains) losses recognized on equity securities, net 231 (427)
(Gain) loss on sales of debt securities, net 15,537 6,802
(Gain) loss on sales of mortgage servicing rights 0 (7,465)
(Gain) loss on sales of loans, net (197) (269)
(Gain) loss on sales of OREO and other repossessed assets (16) (540)
(Gain) loss on sales of premises and equipment 25 (10)
(Gain) loss on life insurance proceeds (211) (394)
(Increase) decrease in cash surrender value of bank owned life insurance (1,235) (1,025)
Provision for deferred income taxes 1,761 0
Stock-based compensation 3,394 2,403
Proceeds from the sale of mortgage servicing rights 0 9,796
Mortgage loans originated for sale (13,169) (19,296)
Proceeds from sales of mortgage loans 9,802 15,241
(Increase) decrease in other assets (7,139) 1,613
Increase (decrease) in other liabilities (19,000) (10,055)
Net cash provided by (used in) operating activities 8,378 37,350
Cash flows provided by (used in) investing activities    
Purchases of equity securities (742) (177)
Purchases of debt securities available for sale (336,428) (780)
Proceeds from sales of equity securities 5,650 626
Proceeds from sales of debt securities available for sale 528,940 101,360
Proceeds from paydowns and maturities of debt securities held to maturity 11,754 11,154
Proceeds from paydowns and maturities of debt securities available for sale 92,454 79,104
Purchases of restricted bank stock (10) 0
Proceeds from the redemption of restricted bank stock 3 0
Net (increase) decrease in loans (93,249) 56,113
Net cash received in (paid for) acquisitions (see Note 2) 385,808 0
Cash paid for premiums on bank-owned life insurance (46) (70)
Proceeds from life insurance 3,306 2,359
Purchases of premises and equipment (1,797) (1,365)
Proceeds from disposition of premises and equipment 0 37
Capitalized expenditures on foreclosed real estate (55) 0
Proceeds from sales of OREO and other repossessed assets, including cash payments collected 14,631 600
Net cash provided by (used in) investing activities 610,219 248,961
Cash flows provided by (used in) financing activities    
Net increase (decrease) in deposits (94,060) (330,945)
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase (18,270) (40,221)
Proceeds from other borrowings, net of debt issuance costs 16,667 0
Repayment of other borrowings (30) (30,000)
Cash dividends paid (14,224) (13,259)
Purchase of treasury stock (4,836) 0
Cash paid for withholding taxes on stock-based payments (881) (396)
Proceeds from the exercise of stock options, warrants, and SSARs (29) 0
Issuance of treasury stock for the ESPP 619 0
Common stock issuance costs (920) 0
Net cash provided by (used in) financing activities (115,964) (414,821)
Net increase (decrease) in cash and cash equivalents 502,633 (128,510)
Cash and cash equivalents, beginning of period 697,659 719,581
Cash and cash equivalents, ending of period 1,200,292 591,071
Cash payments for:    
Interest 42,514 51,676
Non-cash investing and financing activities:    
OREO and other repossessed assets acquired in settlement of loans $ 14,844 $ 0