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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (13,735) $ (26,384)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Goodwill impairment charge 0 39,857
Provision for credit losses 0 224
Depreciation and amortization, premises and equipment 3,339 3,690
Amortization of premiums and discounts: investment securities, deposits, debt 1,104 41
Operating leases: excess of payments over amortization (1,627) (1,643)
Amortization of finance leases 99 239
Amortization of core deposit intangibles 1,250 1,375
Amortization of deferred loan fees and costs (238) (444)
Share-based compensation expense 1,966 1,984
Deferred income tax (benefit) expense (7,662) 5,261
Origination of LHFS (199,488) (180,373)
Proceeds from sale of LHFS 191,557 169,534
Net fair value adjustment and gain on sale of LHFS (1,440) (733)
Origination of MSRs (1,927) (1,748)
Change in fair value of MSRs 1,994 2,301
Amortization of servicing rights 2,861 2,989
Net change in trading securities (1,404) (21,446)
Increase in other assets (8,341) (29,351)
Increase in accounts payable and other liabilities 2,096 3,657
Net cash used in operating activities (29,596) (30,970)
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 110,008 70,808
Proceeds from sale of OREO 126 274
Net (increase) decrease in LHFI 41,689 7,885
Purchase of premises and equipment (6,347) (2,033)
Net cash received from acquisition of branches 0 328,095
Proceeds from sale of Federal Home Loan Bank stock 111,965 69,444
Purchases of Federal Home Loan Bank stock (134,397) (83,432)
Net cash provided by investing activities 123,044 342,502
CASH FLOWS FROM FINANCING ACTIVITIES:    
Decrease in deposits, net (231,287) (1,158,444)
Changes in short-term borrowings, net 276,000 311,000
Proceeds from other long-term borrowings 585,000 745,000
Repayment of other long-term borrowings (720,000) (100,000)
Repayment of finance lease principal (94) (246)
Dividends paid on common stock 0 (8,569)
Net cash used in financing activities (90,381) (211,259)
Net increase in cash and cash equivalents 3,067 100,273
Cash and cash equivalents, beginning of year 215,664 72,828
Cash and cash equivalents, end of period 218,731 173,101
Cash paid during the period for:    
Interest 152,038 100,281
Federal and state income taxes (676) 46
Non-cash activities:    
Increase in lease assets and lease liabilities 1,833 1,413
Loans transferred from LHFI to LHFS, net 793 2,973
Ginnie Mae loans recognized with the right to repurchase, net 130 0
Ginnie Mae loans derecognized with the right to repurchase, net 0 2,092
Repurchase of common stock-award shares 134 316
Acquisition:    
Loans acquired 0 21,198
Premises and equipment and other assets 0 5,845
Liabilities assumed 0 377,607
Goodwill and other intangibles $ 0 $ 22,469