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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net income from continuing operations $ 1,604 $ 17,420
Net income from discontinued operations 0 337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 444 525
Deferred income tax (benefit) expense (462) 3,801
Provision for credit losses 3,700 2,500
Accretion of fair value adjustments (discounts) on acquired loans (688) (2,691)
Accretion of fair value adjustments (premiums) on acquired time deposits (284) (470)
Accretion of fair value adjustments (premiums) on acquired subordinated notes (25) (25)
Proceeds from sale of mortgage loans held for sale 51,748 234,550
Mortgage loans held for sale, originated (45,231) (153,534)
Gain on sale of mortgage loans (364) (77)
Proceeds from sale of guaranteed government loans held for sale 33,049 0
Guaranteed government loans held for sale, originated (32,024) 0
Gain on sale of guaranteed government loans (2,409) 0
Loss (gain) on disposal of premises and equipment 11 (405)
Realized gains on sale of available for sale securities (10) 0
Investment amortization expense, net 162 452
Amortization of subordinated debt issuance costs 9 9
Intangible amortization 355 397
Fair value adjustments of other equity investments 51 (9,364)
Fair value adjustments attributable to mortgage servicing rights 2,138 (3,777)
Increase in cash surrender value of bank owned life insurance (282) (272)
Increase in accrued interest receivable (2,522) (2,820)
(Increase) decrease in other assets (4,374) 3,971
Increase in reserve for unfunded commitments 3,292 70
Increase in other liabilities 6,488 4,430
Net cash provided by operating activities - continuing operations 14,376 95,027
Net cash provided by operating activities - discontinued operations 0 55
Cash provided by operating activities 14,376 95,082
Cash Flows From Investing Activities    
Net increase in loans held for investment (61,529) (66,088)
Net increase in federal funds sold (550) (30,391)
Purchases of securities available for sale 0 (32,660)
Proceeds from calls, sales, paydowns and maturities of securities available for sale 7,972 7,743
Proceeds from sale of other real estate owned 264 70
Net decrease in Paycheck Protection Program loans 3,979 7,552
Net change in restricted equity and other investments 2,561 (283)
Purchase of premises and equipment (536) (104)
Proceeds from sale of other assets 193 1,937
Capital calls of small business investment company funds and other investments (1,682) (3,553)
Nonincome distributions from SBIC funds and other investments 141 227
Net cash used in investing activities - continuing operations (49,187) (115,550)
Net cash provided by investing activities - discontinued operations 0 245
Cash used in investing activities (49,187) (115,305)
Cash Flows From Financing Activities:    
Net (decrease) increase in demand, savings, and other interest-bearing deposits (45,843) 98,992
Net increase (decrease) in time deposits 304,667 (42,212)
Common stock dividends paid (2,321) (2,253)
FHLB advances 510,000 0
FHLB repayments (582,600) 0
FRB repayments (51) (2,690)
Stock option exercises 26 15
Dividend reinvestment plan issuances 33 0
Net cash provided by financing activities - continuing operations 183,911 51,852
Net cash provided by financing activities - discontinued operations 0 0
Cash provided by financing activities 183,911 51,852
Net increase in cash and due from banks 149,100 31,629
Cash and due from banks at beginning of period 77,274 130,548
Cash and due from banks at end of period 226,374 162,177
Supplemental Schedule of Cash Flow Information    
Interest 13,203 1,598
Income taxes 6 0
Non-cash investing and financing activities:    
Unrealized gains (losses) on securities available for sale 4,979 (22,586)
Restricted stock awards, net of forfeitures 479 355
Cumulative effect adjustment due to adoption of accounting standard, net of income taxes $ (5,474) $ 0
Cumulative effect adjustment of change in accounting method 3,542