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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities      
Net income $ 25,562 $ 43,203 $ 49,169
Adjustments to reconcile net income to net cash provided by operating activities:      
Net premium / discount amortization on securities   1,544 1,626
Securities (gains) losses, net 1,547 (1) 3,222
Provision for credit losses 2,000 7,250 5,501
Originations of loans held-for-sale   (22,114) (24,570)
Proceeds from sales of loans held-for-sale   21,650 24,271
Net gains on sales of mortgage loans (398) (782) (704)
Mortgage servicing rights mark to market loss (96) 144 429
Net accretion of discount on loans and unfunded commitments   (258) (2,093)
Net change in cash surrender value of BOLI (418) (1,992) (660)
Net gains on sale of other real estate owned (186) (259) (158)
Provision for other real estate owned valuation losses     269
Depreciation of fixed assets and amortization of leasehold improvements   2,721 2,135
Net gains on disposal and transfer of fixed assets     (635)
Amortization of core deposit intangibles 618 1,154 1,242
Change in current income taxes receivable   (17) (456)
Deferred tax expense   1,605 2,204
Change in accrued interest receivable and other assets   1,191 (50,594)
Accretion of purchase accounting adjustment on time deposits   (106) (701)
Change in accrued interest payable and other liabilities   1,998 (5,709)
Stock based compensation   2,107 1,774
Net cash provided by operating activities   59,038 5,562
Cash flows from investing activities      
Proceeds from maturities and calls, including pay down of securities available-for-sale   171,708 73,981
Proceeds from sales of securities available-for-sale 73,996 5,331 140,166
Purchases of securities available-for-sale   (157,886) (4,186)
Net redemptions (purchases) of FHLBC/FRBC stock   1,350 (16,200)
Net change in loans   53,983 (143,966)
Purchases of BOLI policies   (460)  
Proceeds from claims on BOLI, net of claims receivable   1,235  
Proceeds from sales of other real estate owned, net of participations and improvements   1,850 1,165
Proceeds from disposition of premises and equipment     1,105
Net purchases of premises and equipment   (6,293) (3,047)
Net cash provided by investing activities   70,818 49,018
Cash flows from financing activities      
Net change in deposits   (48,912) (392,440)
Net change in securities sold under repurchase agreements   20,072 (624)
Net change in other short-term borrowings   (75,000) 395,000
Repayment of term note     (9,000)
Repayment of senior notes     (45,000)
Dividends paid on common stock   (4,478) (4,478)
Purchase of treasury stock   (791) (605)
Net cash used in financing activities   (109,109) (57,147)
Net change in cash and cash equivalents   20,747 (2,567)
Cash and cash equivalents at beginning of period   100,145 115,177
Cash and cash equivalents at end of period $ 112,610 $ 120,892 $ 112,610