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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities      
Net income $ 24,335 $ 66,154 $ 73,504
Adjustments to reconcile net income to net cash provided by operating activities:      
Net premium / discount amortization on securities   2,113 2,506
Securities losses, net 924   4,146
Provision for credit losses 3,000 9,250 8,501
Originations of loans held-for-sale   (38,773) (39,068)
Proceeds from sales of loans held-for-sale   38,468 37,962
Net gains on sales of mortgage loans (407) (1,289) (1,111)
Mortgage servicing rights mark to market loss (281) 1,108 148
Net accretion of discount on loans and unfunded commitments   (365) (2,620)
Net change in cash surrender value of BOLI (919) (2,852) (1,579)
Net gains on sale of other real estate owned (71) (259) (229)
Provision for other real estate owned valuation losses     269
Depreciation of fixed assets and amortization of leasehold improvements   4,169 3,246
Net gains on disposal and transfer of fixed assets     (636)
Amortization of core deposit intangibles 616 1,724 1,858
Change in current income taxes receivable   5,137 1,070
Deferred tax expense (benefit)   362 (289)
Change in accrued interest receivable and other assets   4,927 (10,053)
Accretion of purchase accounting adjustment on time deposits   (128) (1,004)
Change in accrued interest payable and other liabilities   14,706 7,991
Stock based compensation   3,085 2,709
Net cash provided by operating activities   107,537 87,321
Cash flows from investing activities      
Proceeds from maturities and calls, including pay down of securities available-for-sale   203,013 104,471
Proceeds from sales of securities available-for-sale 65,572 5,331 205,738
Purchases of securities available-for-sale   (180,563) (4,186)
Net redemptions (purchases) of FHLBC/FRBC stock   3,150 (15,300)
Net change in loans   38,478 (164,252)
Purchases of BOLI policies   (460)  
Proceeds from claims on BOLI, net of claims receivable   1,236  
Proceeds from sales of other real estate owned, net of participations and improvements   1,850 1,800
Proceeds from disposition of premises and equipment     4,460
Net purchases of premises and equipment   (8,638) (8,217)
Net cash provided by investing activities   63,397 124,514
Cash flows from financing activities      
Net change in deposits   (105,194) (495,399)
Net change in securities sold under repurchase agreements   27,396 (6,262)
Net change in other short-term borrowings   (70,000) 345,000
Repayment of term note     (9,000)
Repayment of senior notes     (45,000)
Dividends paid on common stock   (6,723) (6,713)
Purchase of treasury stock   (791) (605)
Net cash used in financing activities   (155,312) (217,979)
Net change in cash and cash equivalents   15,622 (6,144)
Cash and cash equivalents at beginning of period   100,145 115,177
Cash and cash equivalents at end of period $ 109,033 $ 115,767 $ 109,033