XML 19 R9.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 35,747 $ 34,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (359) 3,859
Depreciation, amortization and accretion, net 6,868 7,653
Change in cash surrender value of bank owned life insurance (1,854) (1,720)
Gain on redemption of bank owned life insurance (976) 0
Stock-based compensation expense 744 909
Operating lease payments (1,577) (1,517)
Loss (gain) on investment securities, net 52 (2)
Loss on sales and write downs of other real estate owned, net 70 69
Loss on sale of other assets 0 85
Gain on sale of loans held for sale, net (518) (712)
Increase in accrued interest receivable (623) (1,683)
Increase (decrease) in accrued interest payable 991 (127)
Origination of loans held for sale (28,189) (34,438)
Proceeds from sale of loans held for sale 26,332 36,612
Increase in other investment 0 (460)
Decrease (increase) in other assets 5,787 (13,402)
Decrease in other liabilities (4,337) (9,465)
Net cash provided by operating activities 38,158 20,111
Cash flows from investing activities:    
Proceeds from maturities of certificates of deposit investments 0 735
Purchases of certificates of deposit investments (245) 0
Proceeds from sales of securities available-for-sale 6,477 0
Proceeds from maturities of securities available-for-sale 47,719 82,525
Proceeds from maturities of securities held-to-maturity 0 5,000
Purchases of securities available-for-sale (1,063) (10,768)
Purchase of securities held-to-maturity (17) 0
Net decrease (increase) in loans 14,508 (236,593)
Purchases of premises and equipment (1,908) (2,760)
Proceeds from sales of other real property owned 767 782
Proceeds from bank owned life insurance death benefit 976 0
Net cash (used in) provided by acquisition (10,041) 67,323
Net cash provided by (used in) investing activities 57,173 (93,756)
Cash flows from financing activities:    
Net decrease in deposits (37,416) (197,885)
Decrease in repurchase agreements (12,244) (6,857)
Proceeds from FHLB advances 160,000 325,000
Repayment of FHLB advances (175,000) (80,000)
Proceeds from issuance of common stock 549 823
Direct expenses related to capital transactions 0 (29)
Purchase of treasury stock (5) (11)
Dividends paid on common stock (9,395) (8,454)
Net cash (used in) provided by financing activities (73,511) 42,587
Increase (decrease) in cash and cash equivalents 21,820 (31,058)
Cash and cash equivalents at beginning of period 152,433 168,602
Cash and cash equivalents at end of period 174,253 137,544
Cash paid during the period for:    
Interest 43,245 7,764
Income taxes 9,705 18,880
Supplemental disclosures of noncash investing and financing activities    
Loans transferred to other real estate 648 198
Initial recognition of right-of-use assets 663 715
Initial recognition of lease liabilities 663 715
LINCO Bancshares, Inc.    
Supplemental disclosures of purchases of capital stock    
Fair value of assets acquired 11,751 750,063
Cash paid 10,170 15,150
Common stock issued 0 92,172
Total consideration paid 10,170 107,322
Fair value of liabilities assumed $ 1,581 $ 642,741