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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 19,218 $ 5,462
Adjustments to reconcile net income to net cash from operating activities:    
Net amortization and accretion of investments 988 1,320
Net amortization of deferred loan costs 831 1,269
Provision (release of allowance) for credit losses 341 6,380
Depreciation and amortization 2,683 1,780
Stock-based compensation 1,623 1,431
Stock-based compensation related to equity method investments 173 277
Loans originated for sale (402) (28,308)
Proceeds of loans held-for-sale sold 23,562 45,361
Holding loss on equity securities 148 85
(Gain) loss on sale of available-for-sale securities, net 1,536 (650)
(Gain) loss on sale of equity securities, net 294 (100)
Gain on sale of loans held-for-sale (154) (2,488)
Loss on sale of loans held for investment 1,499 0
Gain on sale of discontinued operations (11,800) 0
Loss on divestiture activity 986 0
Gain on sale of other real estate owned (138) (2)
Income on bank-owned life insurance (507) (487)
Deferred income taxes 59 12
Equity method investments income (680) (1,687)
Equity method investments gain 0 (1,874)
Return on equity method investments 308 3,775
Other assets (6,552) (19,913)
Other liabilities (3,403) (22,188)
Net cash from operating activities 30,613 (10,545)
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (60,425) (67,867)
Net maturities/paydowns of available-for-sale investment securities 55,791 14,874
Sales of available-for-sale investment securities 54,531 60,635
Purchases of premises and equipment (1,213) (2,109)
Disposals of premises and equipment 425 0
Net change in loans 55,030 (374,878)
Proceeds of loans held for investment sold 9,502 0
Purchases of restricted bank stock 0 (2,962)
Redemptions of restricted bank stock 0 2,325
Proceeds from maturities of certificates of deposit with banks 0 2,223
Proceeds from sale of other real estate owned 385 1,004
Purchase of equity securities (300) (2,859)
Proceeds from sale of equity securities 206 1,100
Net cash transferred for sale of discontinued operations (3,935) 0
Net cash transferred in divestiture activity (8) 0
Net cash from investing activities 109,989 (368,514)
FINANCING ACTIVITIES    
Net increase in deposits 388,457 237,365
Net change in repurchase agreements (5,239) (233)
Net change in FHLB and other borrowings (102,333) 0
Principal payments on senior term loan (956) 0
Common stock options exercised 113 1,117
Withholding cash issued in lieu of restricted stock (680) (691)
Cash dividends paid on common stock (4,309) (4,135)
Redemption of noncontrolling interest (100) 0
Stock purchase from noncontrolling interest 0 (40)
Net cash from financing activities 274,953 233,383
Net change in cash and cash equivalents 415,555 (145,676)
Cash and cash equivalents, beginning of period 40,280 307,437
Cash and cash equivalents, end of period 455,835 161,761
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 30,233 3,450
Income taxes 10,235 316
Supplemental disclosure of cash flow information:    
Change in unrealized holding losses on securities available-for-sale 4,154 36,355
Restricted stock units vested 131 73
Employee stock-based compensation tax withholding obligations (36) (17)
Impact of adopting ASC 326, net of tax 6,642 0
Creation of servicing assets from loan sales 406 0
Loans transferred to loans held-for-sale $ 7,909 $ 7,957