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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (7,497) $ 5,058
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 0 593
Depreciation and amortization, premises and equipment 1,661 1,879
Amortization of premiums and discounts: investment securities, deposits, debt 499 49
Operating leases: excess of payments over amortization (772) (860)
Amortization of finance leases 50 126
Amortization of core deposit intangibles 625 588
Amortization of deferred loan fees and costs (29) (189)
Share-based compensation expense 1,059 1,016
Deferred income tax (benefit) expense (1,189) 614
Origination of LHFS (79,806) (78,908)
Proceeds from sale of LHFS 79,033 72,566
Net fair value adjustment and gain on sale of LHFS (419) (584)
Origination of MSRs (895) (756)
Change in fair value of MSRs 810 1,995
Amortization of servicing rights 1,402 1,554
Net change in trading securities (3,048) (43,045)
Increase in other assets (8,813) (2,871)
Increase (decrease) in accounts payable and other liabilities 9,484 (10,415)
Net cash used in operating activities (7,845) (51,590)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities 0 (53,232)
Proceeds from sale of investment securities 0 4,693
Principal payments on investment securities 83,153 32,445
Net increase in LHFI (22,624) (39,408)
Purchase of premises and equipment (6,058) (855)
Net cash received from acquisition of branches 0 349,111
Proceeds from sale of Federal Home Loan Bank stock 30,287 34,840
Purchases of Federal Home Loan Bank stock (48,716) (58,726)
Net cash provided by investing activities 36,042 268,868
CASH FLOWS FROM FINANCING ACTIVITIES:    
Decrease in deposits, net (272,487) (768,262)
Changes in short-term borrowings, net 184,000 562,000
Proceeds from other long-term borrowings 585,000 300,000
Repayment of other long-term borrowings (420,000) 0
Repayment of finance lease principal (47) (129)
Dividends paid on common stock 0 (6,684)
Net cash provided by financing activities 76,466 86,925
Net increase in cash and cash equivalents 104,663 304,203
Cash and cash equivalents, beginning of year 215,664 72,828
Cash and cash equivalents, end of period 320,327 377,031
Cash paid during the period for:    
Interest 70,701 47,775
Federal and state income taxes (414) 0
Non-cash activities:    
Increase in lease assets and lease liabilities 959 1,031
Loans transferred from LHFI to LHFS, net 273 0
Ginnie Mae loans recognized with the right to repurchase, net 323 0
Ginnie Mae loans derecognized with the right to repurchase, net 0 1,235
Repurchase of common stock-award shares 134 315
Acquisition:    
Loans acquired 0 20,803
Premises and equipment and other assets 0 5,819
Liabilities assumed 0 373,547
Goodwill and other intangibles $ 0 $ 22,470