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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 $ 5,058 $ 19,951
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 593 (9,000)
Depreciation and amortization, premises and equipment 1,879 2,593
Amortization of premiums and discounts: investment securities, deposits, debt 49 999
Operating leases: excess of payments over amortization (860) (1,096)
Amortization of finance leases 126 143
Amortization of core deposit intangibles 588 245
Amortization of deferred loan fees and costs (189) (322)
Share-based compensation expense 1,016 1,076
Deferred income tax expense (benefit) (4,034) 5,363
Origination of LHFS (78,908) (252,102)
Proceeds from sale of LHFS 72,566 372,464
Net fair value adjustment and gain on sale of LHFS (584) 3,348
Origination of MSRs (756) (5,492)
Change in fair value of MSRs 1,995 (6,878)
Amortization of servicing rights 1,554 1,712
Net change in trading securities (43,045) (19,313)
(Increase) decrease in other assets 2,824 5,972
Increase (decrease) in accounts payable and other liabilities (11,462) 4,226
Net cash provided by (used in) operating activities (51,590) 123,889
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (53,232) (161,016)
Proceeds from sale of investment securities 4,693 962
Principal payments on investment securities 32,445 34,129
Proceeds from sale of OREO 0 952
Net increase in LHFI (39,408) (328,288)
Purchase of premises and equipment (855) (1,444)
Net cash received from acquisition of branches 349,111 0
Proceeds from sale of Federal Home Loan Bank stock 34,840 16,003
Purchases of Federal Home Loan Bank stock (58,726) (25,238)
Net cash provided by (used in) investing activities 268,868 (463,940)
CASH FLOWS FROM FINANCING ACTIVITIES:    
(Decrease) increase in deposits, net (768,262) 100,973
Changes in short-term borrowings, net 562,000 232,000
Proceeds from other long-term borrowings 300,000 0
Proceeds from debt issuance, net 0 98,035
Repayment of finance lease principal (129) (145)
Repurchases of common stock 0 (75,000)
Dividends paid on common stock (6,684) (7,164)
Net cash provided by financing activities 86,925 348,699
Net increase (decrease) in cash and cash equivalents 304,203 8,648
Cash and cash equivalents, beginning of year 72,828 65,214
Cash and cash equivalents, end of period 377,031 73,862
Cash paid during the period for:    
Interest 47,775 2,691
Federal and state income taxes 0 4
Non-cash activities:    
Increase in lease assets and lease liabilities 1,031 2,053
Loans transferred from LHFI to LHFS, net 0 6,731
Ginnie Mae loans derecognized with the right to repurchase, net 1,235 2,402
Repurchase of common stock-award shares 315 902
Acquisition:    
Loans acquired 20,803 0
Premises and equipment and other assets 5,819 0
Liabilities assumed 373,547 0
Goodwill and other intangibles $ 22,470 $ 0