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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows provided by (used in) operating activities    
Net income $ 17,414 $ 53,582
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 51,293 6,268
Amortization of intangible assets 7,675 5,038
Amortization of mortgage servicing rights 327 648
Depreciation and amortization of premises and equipment 6,082 4,852
Net amortization (accretion) on portfolio loans (7,325) 2,605
Net amortization (accretion) of premium (discount) on investment securities 1,451 4,682
Net amortization (accretion) of premium (discount) on time deposits (1,580) 50
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 1,000 558
Impairment of OREO and other repossessed assets 270 0
Impairment of fixed assets held for sale 188 369
Impairment of mortgage servicing rights (2) 1
Unrealized (gains) losses recognized on equity securities, net (5,765) (78)
(Gain) loss on sales of debt securities, net 15,536 6,806
(Gain) loss on sales of mortgage servicing rights 0 (7,742)
(Gain) loss on sales of loans, net (655) (723)
(Gain) loss on sales of OREO and other repossessed assets 85 (540)
(Gain) loss on sales of premises and equipment 49 (54)
(Gain) loss on life insurance proceeds (357) (781)
(Increase) decrease in cash surrender value of bank owned life insurance (2,834) (2,080)
Provision for deferred income taxes 2,217 1,480
Stock-based compensation 8,827 3,537
Proceeds from the sale of mortgage servicing rights 0 9,796
Mortgage loans originated for sale (45,736) (51,722)
Proceeds from sales of mortgage loans 39,639 43,629
(Increase) decrease in other assets (3,754) 3,851
Increase (decrease) in other liabilities (26,151) (18,207)
Net cash provided by (used in) operating activities 57,894 65,825
Cash flows provided by (used in) investing activities    
Purchases of equity securities (869) (622)
Purchases of debt securities available for sale (376,552) (28,149)
Proceeds from sales of equity securities 6,430 894
Proceeds from sales of debt securities available for sale 528,940 101,360
Proceeds from paydowns and maturities of debt securities held to maturity 24,719 22,835
Proceeds from paydowns and maturities of debt securities available for sale 202,613 182,948
Purchases of restricted bank stock (35,265) (24)
Proceeds from the redemption of restricted bank stock 11,786 0
Net (increase) decrease in loans (39,614) 53,156
Net cash received in (paid for) acquisitions (see Note 2) 385,804 18,377
Cash paid for premiums on bank-owned life insurance (46) (70)
Proceeds from life insurance 4,334 1,799
Purchases of premises and equipment (5,173) (3,516)
Proceeds from disposition of premises and equipment 2 1,341
Capitalized expenditures on foreclosed real estate (316) 0
Proceeds from sales of OREO and other repossessed assets, including cash payments collected 15,611 601
Net cash provided by (used in) investing activities 722,404 350,930
Cash flows provided by (used in) financing activities    
Net increase (decrease) in deposits (750,837) (707,909)
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase 2,420 (48,296)
Net increase (decrease) in short-term borrowings (11,158) (36,000)
Proceeds from other borrowings, net of debt issuance costs 16,667 0
Repayment of other borrowings (125,030) (31,450)
Cash dividends paid (36,821) (26,875)
Purchase of treasury stock (26,491) 0
Cash paid for withholding taxes on stock-based payments (1,547) (396)
Proceeds from the exercise of stock options, warrants, and SSARs (364) 0
Issuance of treasury stock for the ESPP 1,029 0
Issuance of preferred stock, net of stock issuance costs 207,447 0
Common stock issuance costs (920) (141)
Net cash provided by (used in) financing activities (725,605) (851,067)
Net increase (decrease) in cash and cash equivalents 54,693 (434,312)
Cash and cash equivalents, beginning of period 697,659 719,581
Cash and cash equivalents, ending of period 752,352 285,269
Cash payments for:    
Interest 148,580 108,581
Income taxes 13,990 12,388
Non-cash investing and financing activities:    
OREO and other repossessed assets acquired in settlement of loans $ 14,869 $ 26