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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 11,220 $ 2,671
Adjustments to reconcile net income to net cash from operating activities:    
Net amortization and accretion of investments 569 646
Net amortization of deferred loan costs 541 604
Provision for credit losses 4,576 1,280
Depreciation and amortization 1,424 851
Stock-based compensation 831 674
Stock-based compensation related to equity method investment 69 104
Loans originated for sale (402) (16,452)
Proceeds of loans sold 3,681 10,804
Holding loss on equity securities 308 59
(Gain) loss on sale of available-for-sale securities, net 1,536 (650)
Gain on sale of loans held-for-sale (205) (1,083)
Gain on sale of discontinued operations (11,800) 0
Gain on sale of other real estate owned (137) (21)
Income on bank-owned life insurance (260) (243)
Deferred income taxes 22 9
Equity method investment (income) loss 1,193 (1,138)
Equity method investment gain 0 (1,803)
Return on equity method investment (119) 7,286
Other assets (24,180) (41,605)
Other liabilities 5,812 (19,332)
Net cash from operating activities (5,321) (57,339)
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (10,417) (62,635)
Net maturities/paydowns of available-for-sale investment securities 3,503 9,533
Sales of available-for-sale investment securities 54,531 60,635
Purchases of premises and equipment (908) (1,227)
Disposals of premises and equipment 427 0
Net (increase) decrease in loans 25,378 (31,787)
Loss on sale of loans held for investment 561 0
Redemptions of restricted bank stock 0 68
Proceeds from maturities of certificates of deposit with banks 0 490
Proceeds from sale of other real estate owned 374 245
Purchase of equity securities (140) (2,304)
Net cash transferred for sale of discontinued operations (3,935) 0
Net cash from investing activities 69,374 (26,982)
FINANCING ACTIVITIES    
Net increase in deposits 580,333 131,474
Net change in repurchase agreements (4,618) 716
Net change in FHLB and other borrowings (102,333) 0
Principal payments on senior term loan (131) 0
Common stock options exercised 70 725
Withholding cash issued in lieu of restricted stock (243) 0
Cash dividends paid on common stock (2,146) (2,059)
Net cash from financing activities 470,932 130,856
Net change in cash and cash equivalents 534,985 46,535
Cash and cash equivalents, beginning of period 40,280 307,437
Cash and cash equivalents, end of period 575,265 353,972
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 12,152 865
Income taxes 25 119
Supplemental disclosure of cash flow information:    
Change in unrealized holding losses on securities available-for-sale 9,241 11,441
Impact of adopting ASC 326, net of tax 6,642 0
Loans transferred to loans held-for-sale $ 232 $ 2,430