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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ (121,393) $ 68,813
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 48,224 46,149
Depreciation on premises and equipment 3,672 3,721
Impairment on goodwill 153,977 0
Amortization of intangible assets 2,481 3,056
Amortization of operating lease right-of-use asset 1,178 1,219
Amortization of loan servicing rights 1,703 1,925
Share-based compensation expense 2,185 2,139
Increase in cash surrender value of life insurance (6,149) (5,708)
Gain on proceeds from company-owned life insurance (343) 0
Investment securities accretion, net (10,287) (3,741)
(Gain) loss on sales of investment securities, net (14) 196
Gain on repurchase of subordinated debt 0 (244)
Gain on sales of other real estate owned (39) (22)
Impairment on other real estate owned 0 1,278
Origination of loans held for sale (75,176) (55,951)
Proceeds from sales of loans and leases held for sale 107,025 67,614
Gain on sale of loans held for sale (1,963) (1,716)
Net change in operating assets and liabilities:    
Accrued interest receivable (1,343) (904)
Credit enhancement asset 11,039 (5,244)
Other assets 22,869 12,117
Accrued expenses and other liabilities (4,905) (13,675)
Net cash provided by operating activities 132,741 121,022
Cash flows from investing activities:    
Purchases of investment securities available for sale (400,318) (471,040)
Proceeds from sales of investment securities available for sale 103,759 58,874
Maturities and payments on investment securities available for sale 164,437 140,682
Purchases of equity securities (152) (214)
Net decrease in loans 487,562 305,543
Proceeds from sales of consumer loans held for sale 61,099 0
Purchases of premises and equipment (4,606) (4,185)
Purchases of nonmarketable equity securities (107,172) (169,806)
Proceeds from redemptions of nonmarketable equity securities 103,624 172,057
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 414,173 32,212
Cash flows from financing activities:    
Net decrease in deposits (592,418) (52,693)
Net increase (decrease) in short-term borrowings 59,267 (21,016)
Net increase (decrease) in short-term FHLB advances 60,000 (46,000)
Proceeds from long-term FHLB advances 328,000 255,000
Payments made on long-term FHLB advances and other borrowings (273,000) (260,000)
Payments made on subordinated debt (50,750) (10,756)
Cash dividends paid on preferred stock (6,685) (6,685)
Cash dividends paid on common stock (20,584) (20,283)
Common stock repurchased 0 (5,504)
Proceeds from issuance of common stock under employee benefit plans 637 1,515
Net cash used in financing activities (495,533) (166,422)
Net increase (decrease) in cash and cash equivalents 51,381 (13,188)
Cash and cash equivalents:    
Beginning of period 114,766 135,061
End of period 166,147 121,873
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 123,045 144,205
Income tax paid (net of refunds) (979) 21,870
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 187 982
Right of use assets obtained in exchange for lease obligations 873 2,707
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