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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net loss $ (14,328) $ (4,643)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 811 877
Deferred income tax expense (benefit) 505 (2,130)
Provision for credit losses - loans 3,600 9,503
Recovery of credit losses - unfunded commitments (1,500) (1,000)
Accretion of fair value adjustments (discounts) on acquired loans (603) (1,161)
Accretion of fair value adjustments (premiums) on acquired time deposits (178) (506)
Accretion of fair value adjustments (premiums) on acquired subordinated notes (50) (50)
Proceeds from sale of mortgage loans held for sale 132,141 116,540
Mortgage loans held for sale, originated (131,359) (115,528)
Gain on sale of mortgage loans (616) (995)
Proceeds from sale of guaranteed government loans held for sale 1,616 69,449
Guaranteed government loans held for sale, originated (293) (49,708)
Gain on sale of guaranteed government loans (121) (4,793)
Loss on disposal of premises and equipment 0 14
(Gain) loss on sale of other investments and other assets (257) 518
Loss on sale of securities available for sale 67 0
Investment amortization expense, net 276 348
Amortization of subordinated debt issuance costs 17 18
Intangible amortization 563 690
Fair value adjustments of other equity investments 8,544 332
Net adjustments attributable to mortgage servicing rights (2,748) 745
Increase in cash surrender value of bank owned life insurance (670) (574)
Decrease (increase) in accrued interest receivable 795 (3,905)
Decrease (increase) in other assets 1,736 (10,966)
(Decrease) increase in other liabilities (10,281) 19,577
Cash (used in) provided by operating activities (12,333) 22,652
Cash Flows From Investing Activities    
Net decrease (increase) in loans held for investment 151,406 (65,448)
Net increase in federal funds sold (768) (1,066)
Proceeds from calls, sales, paydowns, and maturities of securities available for sale 14,457 12,690
Proceeds from sale of other investments, other assets, and other real estate owned 11,570 264
Proceeds from surrender of bank owned life insurance policies 6,677 0
Net decrease in Paycheck Protection Program loans 0 4,733
Net change in restricted equity and other investments (100) 3,499
Purchase of premises and equipment (209) (643)
Proceeds from sale of premises and equipment and other assets 0 1,005
Proceeds from sale of LSMG 0 250
Capital calls of SBIC funds and other investments (2,161) (2,594)
Nonincome distributions from SBIC funds and other investments 482 332
Cash provided by (used in) investing activities 181,354 (46,978)
Cash Flows From Financing Activities:    
Net decrease in demand, savings, and other interest-bearing deposits (327,090) (109,471)
Net increase in time deposits 87,075 220,564
Common stock dividends paid 0 (4,641)
FHLB advances 586,000 1,080,000
FHLB repayments (593,100) (1,172,600)
FRB advances 0 65,000
FRB repayments (65,000) (51)
Proceeds from Private Placements, net of issuance costs 152,474 0
Stock option exercises 0 26
Dividend reinvestment plan issuances 0 68
Cash (used in) provided by financing activities (159,641) 78,895
Net increase in cash and due from banks 9,380 54,569
Cash and due from banks and restricted cash at beginning of period 121,151 77,274
Cash and due from banks and restricted cash at end of period 130,531 131,843
Supplemental Schedule of Cash Flow Information    
Interest 43,425 28,999
Income taxes 6 6,656
Non-cash investing and financing activities:    
Unrealized gains (losses) on securities available for sale 1,012 (1,490)
Restricted stock awards, net of forfeitures 906 936
Cumulative effect adjustment due to adoption of accounting standard, net of income taxes $ 0 $ (8,111)