XML 22 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (27,508) $ 66,540 $ 115,422
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Goodwill impairment 39,857 0 0
Provision for credit losses (441) (5,202) (15,000)
Depreciation and amortization, premises and equipment 7,146 9,707 9,908
Amortization of premiums and discounts: investment securities, deposits, debt 357 3,126 6,002
Operating leases: excess of payments over amortization (3,145) (4,081) (4,029)
Amortization of finance leases 425 580 1,066
Amortization of core deposit intangibles 2,951 963 1,171
Amortization of deferred loan fees and costs (1,039) (1,182) (8,569)
Share-based compensation expense 3,613 4,106 3,398
Deferred income tax (benefit) expense (9,129) (12,996) 4,718
Origination of LHFS (362,453) (670,905) (2,251,090)
Proceeds from sale of LHFS 363,327 831,095 2,379,116
Net fair value adjustment and gain on sale of LHFS (676) 6,450 (42,358)
Origination of MSRs (3,645) (11,778) (34,445)
Net gain on sale of loans originated as LHFI 0 (88) (11,377)
Change in fair value of MSRs 5,964 (6,788) 12,290
Amortization of servicing rights 5,778 7,692 7,581
Net fair value adjustment, gain on sale and provision for losses on other real estate owned (975) 0 0
Gain on sale of branches 0 (4,270) 0
Net change in trading securities (5,695) (18,989) 0
(Increase) decrease in other assets (44,386) 17,797 (5,796)
Increase in accounts payable and other liabilities 37,698 6,551 5,027
Net cash provided by operating activities 8,024 218,328 173,035
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of investment securities (53,232) (759,501) (179,398)
Proceeds from sale of investment securities 4,693 98,915 28,187
Principal payments on investment securities 192,555 125,848 197,253
Proceeds from sale of OREO 2,972 952 541
Proceeds from sale of loans originated as LHFI 0 4,613 504,584
Net cash distributed in sale of branches 0 (138,756) 0
Net decrease (increase) in LHFI 18,958 (1,940,489) (683,822)
Purchases of premises and equipment (3,811) (6,786) (2,941)
Net cash received from acquisitions of branches 327,901 0 0
Proceeds from sale of Federal Home Loan Bank stock 222,814 147,486 109,484
Purchases of Federal Home Loan Bank stock (228,802) (186,430) (99,526)
Net cash provided by (used in) investing activities 484,048 (2,654,148) (125,638)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Increase (decrease) in deposits, net (1,065,463) 1,472,834 347,867
Changes in short-term borrowings, net 84,000 (25,000) (281,800)
Proceeds from other long-term borrowings 1,180,000 1,000,000 50,000
Repayment of other long-term borrowings (535,000) 0 (50,000)
Proceeds from debt issuance, net 0 98,036 0
Repayment of finance lease principal (456) (589) (1,070)
Repurchases of common stock 0 (75,000) (84,154)
Proceeds from exercise of stock options 0 0 263
Dividends paid on common stock (12,317) (26,847) (21,338)
Net cash (used in) provided by financing activities (349,236) 2,443,434 (40,232)
Net increase in cash and cash equivalents 142,836 7,614 7,165
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents, beginning of year 72,828 65,214 58,049
Cash and cash equivalents, end of year 215,664 72,828 65,214
Cash paid during the period for:      
Interest 217,132 66,364 17,303
Federal and state income taxes (5,287) 5,201 34,429
Non-cash activities:      
LHFI foreclosed and transferred to OREO 3,576 1,160 0
Loans transferred from LHFI to LHFS, net 2,507 12,361 392,555
Ginnie Mae loans derecognized with the right to repurchase, net 1,301 5,424 89,408
Noncash Investment In Low Income Housing Tac Credit Partnership 15,000 0 15,000
Repurchase of common stock - award shares 316 1,321 3,940
Acquisition:      
Loans acquired 21,197 0 0
Premises and equipment and other assets 5,845 0 0
Liabilities assumed 377,412 0 0
Goodwill and other intangibles $ 22,469 $ 0 $ 0