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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 19,830 $ 21,312
Adjustments to reconcile net income to net cash provided by operating activities:    
Net premium / discount amortization on securities 457 821
Securities gains, net   (1)
Provision for credit losses 2,400 3,500
Originations of loans held-for-sale (14,371) (9,103)
Proceeds from sales of loans held-for-sale 12,115 9,536
Net gains on sales of mortgage loans (464) (314)
Mortgage servicing rights mark to market loss (gains) 570 (94)
Net accretion of discount on loans and unfunded commitments (179) (157)
Net change in cash surrender value of BOLI (498) (1,172)
Net losses on sale of other real estate owned 236  
Provision for other real estate owned valuation losses 454  
Depreciation of fixed assets and amortization of leasehold improvements 1,408 1,350
Amortization of operating lease right-of-use asset 261 383
Amortization of core deposit intangibles 1,037 580
Change in current income taxes receivable 5,797 4,825
Deferred tax expense (benefit) 2,935 (622)
Change in accrued interest receivable and other assets 1,171 1,407
Accretion of purchase accounting adjustment on time deposits (274) (78)
Change in accrued interest payable and other liabilities (15,989) 14,285
Payments on operating lease payable (441) (226)
Stock based compensation 1,383 1,157
Net cash provided by operating activities 17,838 47,389
Cash flows from investing activities    
Proceeds from maturities and calls, including pay down of securities available-for-sale 106,329 32,665
Proceeds from sales of securities available-for-sale   5,331
Purchases of securities available-for-sale (82,875) (15,661)
Net redemptions of FHLBC/FRBC stock   4,837
Net change in loans 36,815 70,048
Proceeds from sales of other real estate owned, net of participations 18,049  
Net purchases of premises and equipment (1,609) (3,330)
Cash received from acquisition, net 28  
Net cash provided by investing activities 76,737 93,890
Cash flows from financing activities    
Net change in deposits 84,334 37,607
Net change in securities sold under repurchase agreements 2,007 7,076
Net change in other short-term borrowings (20,000) (185,000)
Dividends paid on common stock (2,694) (2,237)
Purchase of treasury stock (1,430) (776)
Net cash provided by (used in) financing activities 62,217 (143,330)
Net change in cash and cash equivalents 156,792 (2,051)
Cash and cash equivalents at beginning of period 99,329 100,145
Cash and cash equivalents at end of period $ 256,121 $ 98,094