XML 13 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net (loss) income $ (2,893) $ 3,970
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 433 444
Deferred income tax benefit (372) (3,909)
Recovery of credit losses (1,000) (1,510)
Accretion of fair value adjustments (discounts) on acquired loans (329) (688)
Accretion of fair value adjustments (premiums) on acquired time deposits (97) (284)
Accretion of fair value adjustments (premiums) on acquired subordinated notes (25) (25)
Proceeds from sale of mortgage loans held for sale 63,401 51,748
Mortgage loans held for sale, originated (59,707) (45,231)
Gain on sale of mortgage loans (130) (364)
Proceeds from sale of guaranteed government loans held for sale 1,605 33,049
Guaranteed government loans held for sale, originated (293) (32,024)
Gain on sale of guaranteed government loans (110) (2,409)
(Gain) loss on sale of other investments and other assets (326) 1
Investment amortization expense, net 136 162
Amortization of subordinated debt issuance costs 8 9
Intangible amortization 287 355
Fair value adjustments of other equity investments 7 51
Net adjustments attributable to mortgage servicing rights (729) 1,896
Increase in cash surrender value of bank owned life insurance (337) (282)
Decrease (increase) in accrued interest receivable 271 (2,556)
Increase in other assets (2,307) (2,004)
(Decrease) increase in other liabilities (5,011) 9,780
Cash (used in) provided by operating activities (7,518) 10,179
Cash Flows From Investing Activities    
Net decrease (increase) in loans held for investment 42,988 (53,353)
Net increase in federal funds sold (2,398) (550)
Proceeds from calls, sales, paydowns, and maturities of securities available for sale 3,621 7,972
Proceeds from sale of other investments and other assets 5,204 193
Proceeds from sale of other real estate owned 0 264
Net change in restricted equity and other investments (3,621) 2,561
Purchase of premises and equipment (53) (536)
Capital calls of SBIC funds and other investments (1,237) (1,682)
Nonincome distributions from SBIC funds and other investments 220 141
Cash provided by (used in) investing activities 44,724 (44,990)
Cash Flows From Financing Activities:    
Net decrease in demand, savings, and other interest-bearing deposits (164,181) (45,843)
Net increase in time deposits 64,022 304,667
Common stock dividends paid 0 (2,321)
FHLB advances 350,000 510,000
FHLB repayments (280,000) (582,600)
FRB repayments 0 (51)
Stock option exercises 0 26
Dividend reinvestment plan issuances 0 33
Cash (used in) provided by financing activities (30,159) 183,911
Net increase in cash and due from banks 7,047 149,100
Cash and due from banks and restricted cash at beginning of period 121,151 77,274
Cash and due from banks and restircted cash at end of period 128,198 226,374
Supplemental Schedule of Cash Flow Information    
Interest 20,786 13,203
Income taxes 0 6
Non-cash investing and financing activities:    
Unrealized (losses) gains on securities available for sale (2,930) 4,979
Restricted stock awards, net of forfeitures 368 479
Cumulative effect adjustment due to adoption of accounting standard, net of income taxes $ 0 $ (8,111)