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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 43,258 $ 61,755 $ 81,875
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 1,591 3,170 341
Provision for (reversal of) credit losses 6,282 4,280 (1,426)
Stock-based compensation expense 4,344 4,325 3,795
Amortization of intangible assets 1,640 2,434 2,750
Origination of mortgage loans held for sale (1,318) (14,833) (15,190)
Proceeds from sale of mortgage loans held for sale 1,344 15,176 17,299
Deferred tax expense (benefit) (15,291) (13,204) 871
Bank owned life insurance income (2,967) (2,934) (3,747)
Valuation adjustment on interest rate swaps 0 0 (66)
Gain on sale of mortgage loans held for sale, net (26) (343) (633)
Loss (gain) on sale of investment securities, net 22,742 12,231 256
Gain on sale of premises and equipment 1,480 0 403
Gain on sale of branch 0 (610) 0
Other 4,364 38,076 8,734
Net cash provided by operating activities 64,483 109,523 94,456
Cash flows from investing activities:      
Loan originations and purchases, net of payments 464,585 280,664 225,149
Maturities and repayments of investment securities available for sale 130,488 178,855 181,487
Maturities and repayments of investment securities held to maturity 35,236 26,063 28,296
Purchase of investment securities available for sale (33,132) (178,396) (790,871)
Purchase of investment securities held to maturity 0 0 (412,835)
Proceeds from sales of investment securities available for sale 273,633 219,700 30,390
Purchase of premises and equipment (3,459) (10,376) (4,016)
Proceeds from sales of other loans 7,459 0 2,102
Proceeds from redemption of Federal Home Loan Bank stock 47,552 50,318 2,002
Purchases of Federal Home Loan Bank stock (64,904) (45,588) (2,985)
Proceeds from sales of premises and equipment 81 78 106
Purchases of bank owned life insurance (18,531) (1,382) (230)
Proceeds from bank owned life insurance death benefit 1,157 20 2,114
Payments for (Proceeds from) Life Insurance Policies 29,790 0 0
Capital contributions to tax credit partnerships (26,688) (38,248) (18,190)
Net cash paid related to branch divestiture 0 (13,826) 0
Net cash used by investing activities (85,903) (93,446) (1,207,779)
Cash flows from financing activities:      
Net increase (decrease) in deposits 84,741 (310,303) (469,450)
Proceeds from borrowings 1,458,743 1,889,700 50,050
Repayment of borrowings 1,575,743 1,389,700 50,050
Common stock cash dividends paid (31,776) (30,820) (29,491)
Net decrease in securities sold under agreement to repurchase 0 (46,597) (4,242)
Repurchase of common stock (22,418) (6,974) (3,196)
Net cash (used) provided by financing activities (86,453) 105,306 (506,379)
Net (decrease) increase in cash and cash equivalents (107,873) 121,383 (1,619,702)
Cash and cash equivalents at beginning of period 224,973 103,590 1,723,292
Cash and cash equivalents at end of period 117,100 224,973 103,590
Supplemental disclosures of cash flow information:      
Cash paid for interest 112,222 46,135 7,709
Cash paid for income taxes, net of refunds 1,505 2,974 5,035
Supplemental non-cash disclosures of cash flow information:      
Investment in LIHTC partnerships and related funding commitment 100 37,007 85,888
Loans received from return of NMTC equity method investment 0 0 15,596
ROU assets obtained in exchange for new operating lease liabilities 3,504 6,880 2,869
Transfers of premises and equipment classified as held for sale to prepaid expenses and other assets from premises and equipment, net 0 5,974 910
Transfer of Bank Owned Life Insurance To Prepaid Expenses And Other Assets Due to Surrender 4,507 0 0
Transfer of bank owned life insurance to prepaid expenses and other assets due to death benefit accrued, but not received 0 700 0
Transfer of deposits to deposits held for sale $ 0 $ 0 $ 17,420