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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net (loss) income from continuing operations $ (17,860) $ 18,538
Net income from discontinued operations 0 337
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 877 1,038
Deferred income tax (benefit) expense (1,242) 3,316
Provision for credit losses - loans 25,200 9,994
Provision for credit losses - unfunded commitments (1,000) 0
Accretion of fair value adjustments (discounts) on acquired loans (1,161) (4,058)
Accretion of fair value adjustments (premiums) on acquired time deposits (506) (833)
Accretion of fair value adjustments (premiums) on acquired subordinated notes (50) (50)
Proceeds from sale of mortgage loans held for sale 116,540 368,217
Mortgage loans held for sale, originated (115,528) (275,897)
Gain on sale of mortgage loans (995) (3,136)
Proceeds from sale of guaranteed government loans held for sale 69,449 0
Guaranteed government loans held for sale, originated (49,708) 0
Gain on sale of guaranteed government loans (4,793) 0
Loss (gain) on disposal of premises and equipment 14 (405)
Loss on disposal of other assets 528 0
Realized gains on sale of other equity securities (10) 0
Investment amortization expense, net 348 809
Amortization of subordinated debt issuance costs 18 17
Intangible amortization 690 783
Fair value adjustments of other equity investments 332 (9,278)
Fair value adjustments attributable to mortgage servicing rights 1,364 (3,548)
Increase in cash surrender value of bank owned life insurance (574) (548)
Increase in accrued interest receivable (3,081) (665)
(Increase) decrease in other assets (11,277) 399
Increase in other liabilities 19,577 5,033
Net cash provided by operating activities - continuing operations 27,152 110,063
Net cash provided by operating activities - discontinued operations 0 55
Cash provided by operating activities 27,152 110,118
Cash Flows From Investing Activities    
Net increase in loans held for investment (69,948) (272,026)
Net (increase) decrease in federal funds sold (1,066) 8,410
Purchases of securities available for sale 0 (66,761)
Proceeds from calls, sales, paydowns and maturities of securities available for sale 12,690 15,163
Proceeds from sale of other real estate owned 264 70
Net decrease in Paycheck Protection Program loans 4,733 14,752
Net change in restricted equity and other investments 3,499 (4,857)
Purchase of premises and equipment (643) (221)
Proceeds from sale of premises and equipment 55 1,937
Proceeds from sale of other assets 950 0
Proceeds from sale of LSMG 250 0
Capital calls of small business investment company funds and other investments (2,594) (3,997)
Nonincome distributions from limited liability companies 332 420
Net cash used in investing activities - continuing operations (51,478) (307,110)
Net cash provided by investing activities - discontinued operations 0 245
Cash used in investing activities (51,478) (306,865)
Cash Flows From Financing Activities:    
Net (decrease) increase in demand, savings, and other interest-bearing deposits (109,471) 144,924
Net increase (decrease) in time deposits 220,564 (106,155)
Common stock dividends paid (4,641) (4,552)
FHLB advances 1,080,000 135,000
FHLB repayments (1,172,600) (10,000)
FRB advances 65,000 0
FRB repayments (51) (17,841)
Stock option exercises 26 15
Dividend reinvestment plan issuances 68 0
Net cash provided by financing activities - continuing operations 78,895 141,391
Net cash provided by financing activities - discontinued operations 0 0
Cash provided by financing activities 78,895 141,391
Net increase (decrease) in cash and due from banks 54,569 (55,356)
Cash and due from banks at beginning of period 77,274 130,548
Cash and due from banks at end of period 131,843 75,192
Supplemental Schedule of Cash Flow Information    
Interest 28,999 4,395
Income taxes 6,656 575
Non-cash investing and financing activities:    
Unrealized losses on securities available for sale (1,490) (42,859)
Restricted stock awards, net of forfeitures 936 729
Cumulative effect adjustment due to adoption of accounting standard, net of income taxes $ (5,474) $ 0
Cumulative effect adjustment of change in accounting method, net of income taxes 3,542