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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 61,755 $ 81,875 $ 98,035
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 3,170 341 (21,739)
Provision for (reversal of) credit losses 4,280 (1,426) (29,372)
Stock-based compensation expense 4,325 3,795 3,666
Amortization of intangible assets 2,434 2,750 3,111
Origination of mortgage loans held for sale (14,833) (15,190) (86,443)
Proceeds from sale of mortgage loans held for sale 15,176 17,299 93,543
Bank owned life insurance income (2,934) (3,747) (2,520)
Valuation adjustment on interest rate swaps 0 (66) (355)
Gain on sale of mortgage loans held for sale, net (343) (633) (3,644)
Loss (gain) on sale of investment securities, net 12,231 256 (29)
Gain on sale of premises and equipment 0 403 4,440
Gain on sale of branch including related deposits, net (610) 0 0
Other 24,872 9,605 19,717
Net cash provided by operating activities 109,523 94,456 69,530
Cash flows from investing activities:      
Loan originations and purchases, net of payments 280,664 225,149 (699,107)
Maturities and repayments of investment securities available for sale 178,855 181,487 254,668
Maturities and repayments of investment securities held to maturity 26,063 28,296 1,255
Purchase of investment securities available for sale (178,396) (790,871) (616,123)
Purchase of investment securities held to maturity 0 (412,835) (140,288)
Proceeds from sales of investment securities available for sale 219,700 30,390 1,248
Purchase of premises and equipment (10,376) (4,016) (3,018)
Proceeds from sales of other loans 0 2,102 10,556
Proceeds from redemption of Federal Home Loan Bank stock 50,318 2,002 0
Purchases of Federal Home Loan Bank stock (45,588) (2,985) (1,272)
Proceeds from sales of premises and equipment 78 106 65
Purchases of bank owned life insurance (1,382) (230) (10,166)
Proceeds from bank owned life insurance death benefit 20 2,114 0
Cash received from return of NMTC equity method investment 0 0 9,642
Capital contributions to tax credit partnerships (38,248) (18,190) (41,911)
Net cash paid related to branch divestiture (13,826) 0
Net cash (used) provided by investing activities (93,446) (1,207,779) 163,763
Cash flows from financing activities:      
Net (decrease) increase in deposits (310,303) (469,450) 783,347
Proceeds from borrowings 1,889,700 50,050 0
Repayment of borrowings 1,389,700 50,050 0
Common stock cash dividends paid (30,820) (29,491) (28,937)
Net (decrease) increase in securities sold under agreement to repurchase (46,597) (4,242) 15,156
Repurchase of common stock (6,974) (3,196) (22,889)
Net cash provided (used) by financing activities 105,306 (506,379) 746,677
Net increase (decrease) in cash and cash equivalents 121,383 (1,619,702) 979,970
Cash and cash equivalents at beginning of period 103,590 1,723,292 743,322
Cash and cash equivalents at end of period 224,973 103,590 1,723,292
Supplemental disclosures of cash flow information:      
Cash paid for interest 46,135 7,709 6,790
Cash paid for income taxes, net of refunds 2,974 5,035 9,888
Supplemental non-cash disclosures of cash flow information:      
Transfer of investment securities available for sale to held to maturity 0 0 244,778
Investment in LIHTC partnerships and related funding commitment 37,007 85,888 29,551
Loans received from return of NMTC equity method investment 0 0 15,596
ROU assets obtained in exchange for new operating lease liabilities 6,880 2,869 13,966
Transfers of premises and equipment classified as held for sale to prepaid expenses and other assets from premises and equipment, net 5,974 910 3,556
Transfer of bank owned life insurance to prepaid expenses and other assets due to death benefit accrued, but not received 700 0 0
Transfer of deposits to deposits held for sale $ 0 $ 17,420 $ 0