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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 11,781,000 $ 19,098,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 4,756,000 3,900,000
Write down of other real estate owned 328,000 670,000
Depreciation and amortization 6,455,000 6,368,000
Stock based compensation 1,255,000 1,562,000
Loss (gain) on sale or call of investment securities 46,000 (2,000)
Fair value adjustments on equity securities 2,546,000 (192,000)
Amortization of premiums on investment securities 3,973,000 6,394,000
Accretion of discounts on retained SBA loans (971,000) (709,000)
Fair value adjustments on SBA servicing assets 1,004,000 545,000
Proceeds from sales of SBA loans originated for sale 21,535,000 22,489,000
SBA loans originated for sale (19,383,000) (22,380,000)
Gains on sales of SBA loans originated for sale (1,713,000) (2,035,000)
Proceeds from sales of mortgage loans originated for sale 84,904,000 344,087,000
Mortgage loans originated for sale (81,056,000) (298,521,000)
Fair value adjustment for mortgage loans originated for sale 311,000 1,920,000
Gains on sales of mortgage loans originated for sale (2,062,000) (9,572,000)
Amortization of debt issuance costs 5,000 5,000
Non-cash expense related to leases 344,000 249,000
Repayment of operating lease liabilities (4,216,000) (4,179,000)
Net (increase) decrease in accrued interest receivable and other assets (3,821,000) 1,392,000
Net increase (decrease) in accrued interest payable and other liabilities 10,909,000 (384,000)
Net cash provided by operating activities 36,930,000 70,705,000
Cash flows from investing activities    
Purchase of investment securities available for sale (251,859,000) (464,868,000)
Purchase of investment securities held to maturity (51,145,000) (764,947,000)
Proceeds from the sale of securities available for sale 34,073,000 0
Proceeds from the paydown, maturity, or call of securities available for sale 99,986,000 104,147,000
Proceeds from the paydown, maturity, or call of securities held to maturity 147,394,000 201,255,000
Net purchase of restricted stock (18,397,000) (471,000)
Net (increase) decrease in loans (555,295,000) 149,212,000
Net proceeds from sale of other real estate owned 329,000 155,000
Premises and equipment expenditures (9,917,000) (8,499,000)
Net cash used in investing activities (604,831,000) (784,016,000)
Cash flows from financing activities    
Net proceeds from exercise of stock options 719,000 140,000
Net increase in demand, money market and savings deposits 140,166,000 947,213,000
Net (decrease) increase in time deposits (79,762,000) 11,117,000
Net increase (repayment) in other borrowings 442,500,000 (633,866,000)
Preferred stock dividends paid (2,154,000) (2,625,000)
Net cash provided by financing activities 501,469,000 321,979,000
Net decrease in cash and cash equivalents (66,432,000) (391,332,000)
Cash and cash equivalents, beginning of year 118,884,000 775,300,000
Cash and cash equivalents, end of period 52,452,000 383,968,000
Supplemental disclosures    
Interest paid 15,290,000 13,595,000
Income taxes paid 3,486,000 8,540,000
Non-cash transfers from loans receivable to other real estate owned 1,173,000 168,000
Non-cash transfers from loans held for sale to loans receivable 476,000 0
Lease liabilities arising from obtaining right-of-use assets $ 3,272,000 $ 8,175,000