XML 21 R6.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 67,405 $ 20,044 $ 27,825
Adjustments to reconcile net income to net cash provided by operating activities:      
Net premium / discount amortization on securities 5,217 2,932 2,329
Securities losses (gains), net 944 (232) 25
Provision for credit losses 6,550 4,326 10,413
Originations of loans held-for-sale (76,607) (239,175) (384,379)
Proceeds from sales of loans held-for-sale 81,776 254,374 388,538
Net gains on sales of mortgage loans (2,022) (9,300) (15,519)
Mortgage servicing rights mark to market (gain) loss (3,177) (1,261) 3,999
Net accretion of discount on loans and unfunded commitments (6,339) (1,177) (911)
Net change in cash surrender value of BOLI (718) (1,390) (1,233)
Net gains on sale of other real estate owned (163) (41) (204)
Provision for other real estate owned valuation losses 104 79 357
Depreciation of fixed assets and amortization of leasehold improvements 4,085 3,152 2,798
Write-down of fixed assets   3,809  
Net gains on disposal and transfer of fixed assets (2,017)    
Amortization of core deposit intangibles 2,626 644 494
Change in current income taxes receivable 12,048 (9,286) 811
Deferred tax expense (benefit) 969 6,479 (646)
Change in accrued interest receivable and other assets (940) 6,865 (17,692)
Accretion of purchase accounting adjustment on time deposits (1,582) (155)  
Change in accrued interest payable and other liabilities 6,225 (11,075) 6,893
Stock-based compensation 2,960 1,435 2,089
Net cash provided by operating activities 97,344 31,047 25,987
Cash flows from investing activities      
Proceeds from maturities and calls, including pay down of securities available-for-sale 279,848 138,874 48,054
Proceeds from sales of securities available-for-sale 30,981 605,846 18,006
Purchases of securities available-for-sale (301,649) (886,103) (65,229)
Proceeds from redemption of FHLBC/FRBC stock 1,444    
Purchases of FHLBC/FRBC stock (8,717)    
Net change in loans (443,904) 122,102 (103,887)
Purchases of BOLI policies (590) (591) (590)
Proceeds from claims on BOLI, net of claims receivable     484
Proceeds from sales of other real estate owned, net of participations and improvements 941 5,828 3,275
Proceeds from disposition of premises and equipment 13,346    
Net purchases of premises and equipment (4,332) (2,033) (3,921)
Cash paid for acquisition, net of cash and cash equivalents retained (146) 148,995  
Net cash used in investing activities (432,778) 132,918 (103,808)
Cash flows from financing activities      
Net change in deposits (353,927) 235,078 410,324
Net change in securities sold under repurchase agreements (18,181) (16,643) 18,287
Net change in other short-term borrowings 90,000   (48,500)
Redemption of junior subordinated debentures     (32,604)
Issuance of subordinated debentures, net of issuance costs   59,148  
Issuance of term note     20,000
Repayment of term note (4,000) (4,000) (3,000)
Net change in notes payable and other borrowings, excluding term note (6,056) (315) (307)
Dividends paid on common stock (8,877) (4,612) (1,186)
Purchase of treasury stock (455) (10,417) (5,922)
Net cash (used in) provided by financing activities (301,496) 258,239 357,092
Net change in cash and cash equivalents (636,930) 422,204 279,271
Cash and cash equivalents at beginning of year 752,107 329,903 50,632
Cash and cash equivalents at end of year 115,177 752,107 329,903
Supplemental cash flow information      
Income taxes paid, net 10,324 10,612 7,922
Interest paid for deposits 3,418 2,752 7,255
Interest paid for borrowings 6,777 5,366 5,093
Non-cash transfer of loans to other real estate owned 87 $ 196 $ 898
Non-cash transfer of fixed assets to other assets $ 4,568