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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 income (loss) $ (26,384) $ 37,672
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Goodwill impairment charge 39,857 0
Provision for credit losses 224 (9,000)
Depreciation and amortization, premises and equipment 3,690 5,134
Amortization of premiums and discounts: investment securities, deposits, debt 41 2,036
Operating leases: excess of payments over amortization (1,643) (2,158)
Amortization of finance leases 239 293
Amortization of core deposit intangibles 1,375 490
Amortization of deferred loan fees and costs (444) (619)
Share-based compensation expense 1,984 2,297
Deferred income tax expense 5,261 6,991
Origination of LHFS (180,373) (476,350)
Proceeds from sale of LHFS 169,534 607,523
Net fair value adjustment and gain on sale of LHFS (733) 5,478
Origination of MSRs (1,748) (8,975)
Change in fair value of MSRs 2,301 (8,686)
Amortization of servicing rights 2,989 4,049
Net change in trading securities (21,446) (33,074)
(Increase) decrease in other assets (29,351) 17,912
Increase (decrease) in accounts payable and other liabilities 3,657 (5,882)
Net cash provided by (used in) operating activities (30,970) 145,131
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (53,232) (356,539)
Proceeds from sale of investment securities 4,693 962
Principal payments on investment securities 70,808 64,719
Proceeds from sale of OREO 274 952
Net decrease (increase) in LHFI 7,885 (1,226,169)
Purchase of premises and equipment (2,033) (2,014)
Net cash received from acquisition of branches 328,095 0
Proceeds from sale of Federal Home Loan Bank stock 69,444 31,683
Purchases of Federal Home Loan Bank stock (83,432) (88,314)
Net cash provided by (used in) investing activities 342,502 (1,574,720)
CASH FLOWS FROM FINANCING ACTIVITIES:    
(Decrease) increase in deposits, net (1,158,444) 13,710
Changes in short-term borrowings, net 311,000 1,417,000
Proceeds from other long-term borrowings 745,000 0
Repayment of other long-term borrowings (100,000) 0
Proceeds from debt issuance, net 0 98,036
Repayment of finance lease principal (246) (297)
Repurchases of common stock 0 (75,000)
Dividends paid on common stock (8,569) (13,797)
Net cash provided by (used in) financing activities (211,259) 1,439,652
Net increase in cash and cash equivalents 100,273 10,063
Cash and cash equivalents, beginning of year 72,828 65,214
Cash and cash equivalents, end of period 173,101 75,277
Cash paid during the period for:    
Interest 100,281 9,957
Federal and state income taxes 46 310
Non-cash activities:    
Increase in lease assets and lease liabilities 1,413 3,858
LHFI foreclosed and transferred to OREO 0 1,018
Loans transferred from LHFI to LHFS, net 2,973 7,834
Ginnie Mae loans derecognized with the right to repurchase, net 2,092 6,239
Repurchase of common stock-award shares 316 1,341
Acquisition:    
Loans acquired 21,198 0
Premises and equipment and other assets 5,845 0
Liabilities assumed 377,607 0
Goodwill and other intangibles $ 22,469 $ 0