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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 73,793 $ 87,003 $ 125,211
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 4,422 4,503 3,863
Provision for credit losses 13,800 8,200 17,750
Amortization of intangibles 1,235 1,438 1,685
Net accretion of loans (879) (1,904) (3,178)
Accretion on bank premises (49) (49) (49)
Accretion on deposits (88) (279) (777)
Amortization on borrowings 22 21 40
Net deferred income tax (benefit) expense (2,040) 4,135 (403)
Stock-based compensation 4,568 4,860 4,889
Change in fair value of equity securities, net (2) 117 1,521
Gain on sale of loans held-for-sale, net (2,723) (1,704) (1,695)
Net losses on disposition of fixed assets 477 0 22
Gain on sale of other real estate owned 0 22 6
Loans originated for resale (29,340) (26,153) (21,128)
Proceeds from sale of loans held-for-sale 31,320 36,645 28,341
Increase in cash surrender value of bank owned life insurance (7,142) (6,316) (5,597)
Amortization of premiums on investment securities, net 793 1,030 2,155
Amortization of subordinated debt issuance costs 505 1,184 304
Decrease (increase) in accrued interest receivable 3,610 (3,046) (11,910)
Net change in operating leases (155) (54) (182)
Decrease (increase) in other assets 8,691 (7,514) (12,413)
(Increase) decrease in other liabilities (40,118) (9,248) 48,322
Net cash provided by operating activities 60,700 92,891 176,777
Cash flows from investing activities      
Purchases (80,519) (42,143) (339,059)
Maturities, calls and principal repayments 69,651 64,550 150,287
Net redemptions (purchases) of restricted investment in bank stocks 11,008 (4,853) (18,778)
Purchases of equity securities (1,526) (2,870) (3,538)
Loans held-for-sale payments 0 25 54
Net decrease (increase) in loans 57,941 (255,556) (1,292,938)
Cash flow hedge premium payment 0 0 (6,965)
Purchases of premises and equipment (3,793) (7,433) (3,301)
Purchases of bank owned life insurance 0 0 (30,000)
Proceeds from BOLI death benefits 1,114 0 0
Proceeds from disposition of fixed assets 1,275 0 697
Proceeds from sale of other real estate owned 0 242 309
Net cash provided by (used in) investing activities 55,151 (248,038) (1,543,232)
Cash flows from financing activities      
Net increase in deposits 284,000 179,859 1,024,446
Repayment of subordinated debt 0 (75,000) 0
Advances of Federal Holme Loan Bank ("FHLB") borrowings 866,529 2,946,500 4,203,181
Repayments of FHLB borrowings (1,112,066) (2,870,564) (3,813,792)
Cash dividends paid on preferred stock (6,036) (6,036) (6,037)
Cash dividends paid on common stock (27,281) (25,912) (23,428)
Purchase of treasury stock (5,820) (17,497) (13,127)
Proceeds from exercise of stock options 0 96 124
Share redemption for tax withholdings on performance units and deferred stock units earned (1,403) (1,900) (2,133)
Net cash (used in) provided by financing activities (2,077) 129,546 1,369,234
Net change in cash and cash equivalents 113,774 (25,601) 2,779
Cash and cash equivalents at beginning of period 242,714 268,315 265,536
Cash and cash equivalents at end of period 356,488 242,714 268,315
Supplemental disclosures of cash flow information:      
Interest paid 270,946 230,806 67,850
Income taxes paid 24,001 31,647 49,234
Supplemental disclosures of noncash investing activities:      
Transfer of loans to other real estate owned 0 0 579
Transfer of loans held-for-sale to loans held-for-investment 0 16,156 8,043
Transfer of loans held-for-investment to loans held-for-sale $ 0 $ 11,197 $ 27,137