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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ (128,950) $ 48,382
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 28,219 28,224
Depreciation on premises and equipment 2,456 2,478
Impairment on goodwill 153,977 0
Amortization of intangible assets 1,738 2,105
Amortization of operating lease right-of-use asset 788 803
Amortization of loan servicing rights 1,139 1,351
Share-based compensation expense 1,534 1,406
Increase in cash surrender value of life insurance (4,059) (3,726)
Gain on proceeds from company-owned life insurance (343) 0
Investment securities accretion, net (6,937) (2,340)
Loss on sales of investment securities, net 0 152
Gain on repurchase of subordinated debt 0 (167)
Gain on sales of other real estate owned (39) (22)
Impairment on other real estate owned 0 730
Origination of loans held for sale (45,532) (32,361)
Proceeds from sales of loans and leases held for sale 47,026 45,807
Gain on sale of loans held for sale (1,303) (892)
Net change in operating assets and liabilities:    
Accrued interest receivable 276 18
Credit enhancement asset 11,004 (2,813)
Other assets 12,539 (9,820)
Accrued expenses and other liabilities (20,777) (4,801)
Net cash provided by operating activities 52,756 74,514
Cash flows from investing activities:    
Purchases of investment securities available for sale (218,307) (322,891)
Proceeds from sales of investment securities available for sale 0 45,825
Maturities and payments on investment securities available for sale 95,792 91,216
Purchases of equity securities (33) (150)
Net decrease in loans 331,643 227,718
Proceeds from sale of consumer loans held for sale 61,099 0
Purchases of premises and equipment (3,233) (2,078)
Purchases of nonmarketable equity securities (80,200) (114,232)
Proceeds from redemptions of nonmarketable equity securities 76,231 108,652
Proceeds from sales of other real estate owned 4,774 301
Proceeds from company-owned life insurance, net 1,166 0
Net cash provided by investing activities 268,932 34,361
Cash flows from financing activities:    
Net decrease in deposits (250,324) (191,506)
Net decrease in short-term borrowings (78,845) (27,657)
Net increase in short-term FHLB borrowings 82,000 179,000
Proceeds from long-term FHLB borrowings 203,000 130,000
Payments made on long-term FHLB borrowings and other borrowings (198,000) (185,000)
Payments made on subordinated debt 0 (1,833)
Cash dividends paid on preferred stock (4,456) (4,456)
Cash dividends paid on common stock (13,567) (13,536)
Common stock repurchased 0 (4,970)
Proceeds from issuance of common stock under employee benefit plans 325 668
Net cash used in financing activities (259,867) (119,290)
Net increase (decrease) in cash and cash equivalents 61,821 (10,415)
Cash and cash equivalents:    
Beginning of period 114,766 135,061
End of period 176,587 124,646
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 82,580 92,962
Income tax paid (net of refunds) 761 21,020
Supplemental disclosures of noncash investing and financing activities:    
Transfer of loans to loans held for sale 29,400 0
Transfer of loans to other real estate owned 187 122
Right of use assets obtained in exchange for lease obligations 837 1,539
Transfer of premises and equipment, net to assets held for sale 245 0
Loans provided for sale of consumer loans held for sale 219,212 0
Pending settlements on securities purchased $ 0 $ 1,000