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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net loss $ (13,382) $ (46,014)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Goodwill impairment 0 26,826
Depreciation and amortization 1,171 1,290
Deferred income tax expense 3,308 163
(Recovery of) provision for credit losses - loans (2,400) 21,103
Recovery of credit losses - unfunded commitments (1,700) (1,550)
Accretion of fair value adjustments (discounts) on acquired loans (915) (1,785)
Accretion of fair value adjustments (premiums) on acquired time deposits (248) (666)
Accretion of fair value adjustments (premiums) on acquired subordinated notes (75) (75)
Proceeds from sale of other loans held for sale 25,250 0
Proceeds from sale of mortgage loans held for sale 183,868 186,460
Mortgage loans held for sale, originated (177,632) (189,340)
Gain on sale of mortgage loans (1,469) (1,523)
Proceeds from sale of guaranteed government loans held for sale 1,626 69,455
Guaranteed government loans held for sale, originated (293) (35,027)
Gain on sale of guaranteed government loans (131) (4,799)
Loss on disposal of premises and equipment 6 14
(Gain) loss on sale of other investments and other assets (258) 321
Realized loss on sale of securities available for sale 67 649
Loss on sale of MSRs 1,011 0
Investment amortization expense, net 409 510
Amortization of subordinated debt issuance costs 26 26
Intangible amortization 828 998
Fair value adjustments of other equity investments 8,384 277
Net adjustments attributable to mortgage servicing rights 166 (148)
Increase in cash surrender value of bank owned life insurance (797) (885)
Decrease (increase) in accrued interest receivable 1,796 (4,818)
Decrease (increase) in other assets 115 (20,784)
(Decrease) increase in other liabilities (16,932) 22,910
Cash provided by operating activities 11,799 23,588
Cash Flows From Investing Activities    
Net decrease (increase) in loans held for investment 236,445 (66,847)
Net decrease (increase) in federal funds sold 1,541 (1,158)
Proceeds from calls, sales, paydowns, and maturities of securities available for sale 19,770 28,774
Proceeds from sale of other investments, other assets, and other real estate owned 11,680 1,561
Proceeds from surrender of bank owned life insurance policies 34,297 0
Net change in restricted equity and other investments (2,832) 4,413
Purchase of premises and equipment (454) (713)
Proceeds from sale of premises and equipment and other assets 4 1,005
Proceeds from sale of MSRs 6,568 0
Proceeds from sale of LenderSelect Mortgage Group 0 250
Capital calls of SBIC funds and other investments (2,684) (3,816)
Nonincome distributions from SBIC funds and other investments 717 1,221
Cash provided by (used in) investing activities 305,052 (35,310)
Cash Flows From Financing Activities:    
Net decrease in demand, savings, and other interest-bearing deposits (361,678) (62,655)
Net increase in time deposits 142,386 336,965
Common stock dividends paid 0 (4,641)
FHLB advances 726,000 1,500,000
FHLB repayments (746,000) (1,661,700)
FRB advances 0 65,000
FRB repayments (65,000) (51)
Proceeds from Private Placements, net of issuance costs 152,148 0
Stock option exercises 0 26
Dividend reinvestment plan issuances 0 77
Cash (used in) provided by financing activities (152,144) 173,021
Net increase in cash and due from banks 164,707 161,299
Cash and due from banks and restricted cash at beginning of period 121,151 77,274
Cash and due from banks and restricted cash at end of period 285,858 238,573
Supplemental Schedule of Cash Flow Information    
Interest 64,704 48,974
Income taxes 0 6,656
Non-cash investing and financing activities:    
Unrealized gains (losses) on securities available for sale 13,814 (11,821)
Restricted stock awards, net of forfeitures 1,019 1,382
Cumulative effect adjustment due to adoption of accounting standard, net of income taxes $ 0 $ (8,111)