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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income $ 11,827 $ 20,588
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,066 1,420
Amortization of premiums and discounts on securities, net (44) 361
Amortization of operating lease right-of-use assets 1,863 990
Other amortization and accretion, net (6,636) (1,173)
Stock based compensation 2,642 1,419
Origination of loans designated for sale (27,576) (57,625)
Sale of loans designated for sale 28,749 71,210
Provision for credit losses 31,598 6,556
Deferred income taxes (17,952) 866
Gains on sale of securities (5) 0
Gains on sale of loans (860) (2,324)
Gains on sale and write-downs of other real estate owned 0 (255)
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to other real estate owned 1,154 31
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net decrease in other assets 22,516 15,471
Net decrease in other liabilities (36,297) (3,001)
Net cash provided by operating activities 13,045 54,534
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 36,850 95,398
Maturities and repayments of debt securities held-to-maturity 11,829 26,430
Proceeds from sale of debt securities available-for-sale 30,490 26,011
Purchases of debt securities available-for-sale (22,402) (244,551)
Purchases of debt securities held-to-maturity 0 (134,941)
Maturities of time deposits with other banks 0 498
Net new loans and principal repayments 25,883 (44,256)
Purchases of loans held for investment 0 (111,292)
Proceeds from sale of other real estate owned 0 3,742
Additions to other real estate owned 0 (319)
Proceeds from sale of FHLB and Federal Reserve Bank Stock 28,848 0
Purchase of FHLB and Federal Reserve Bank Stock (54,642) (3,347)
Net cash from bank acquisitions 141,674 208,933
Additions to bank premises and equipment (5,812) (825)
Net cash provided by (used in) investing activities 192,718 (178,519)
Cash Flows from Financing Activities    
Net increase in deposits 208,765 613,899
Net increase (decrease) in repurchase agreements 95,577 (643)
Net decrease in FHLB borrowings with original maturities of three months or less 40,000 0
Proceeds from FHLB borrowings with original maturities of more than three months 50,000 0
Stock based employee benefit plans 3,617 3,509
Dividends paid (14,419) (7,994)
Net cash provided by financing activities 383,540 608,771
Net increase in cash and cash equivalents 589,303 484,786
Cash and cash equivalents at beginning of period 201,940 737,729
Cash and cash equivalents at end of period 791,243 1,222,515
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 23,457 1,673
Cash paid during the period for taxes 6 0
Recognition of operating lease right-of-use assets, other than through bank acquisitions, net of terminations 1,610 3,370
Recognition of operating lease liabilities, other than through bank acquisitions, net of terminations 1,610 3,370
Supplemental disclosure of non-cash investing activities: 1    
Transfers from bank premises to other real estate owned [1] $ 5,455 $ 1,008
[1] 1See "Note 11 - Business Combinations" for common stock issued in business combinations.