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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Net income before noncontrolling interest $ 31,006 $ 14,387 $ 38,696
Adjustments to reconcile net income to net cash from operating activities:      
Net amortization and accretion of investments 2,072 2,596 4,054
Net amortization of deferred loan costs 1,347 2,526 2,969
Provision (release of allowance) for credit losses (1,921) 14,194 (6,275)
Depreciation and amortization 5,003 5,322 4,198
Stock-based compensation 2,658 2,800 2,634
Stock-based compensation related to equity method investments 734 417 574
Loans originated for sale (1,804) (101,382) (30,033)
Proceeds of loans held-for-sale sold 30,725 79,602 22,024
Holding (gain) loss on equity securities (146) 1,543 (3,776)
(Gain) loss on sale of available-for-sale securities, net 1,536 (650) (3,875)
(Gain) loss on sale of equity securities, net 269 56 (5)
Gain on sale of loans held-for-sale (1,065) (5,487) (4,178)
Loss on sale of loans held for investment 1,809 3,832 0
Gain on sale of discontinued operations (11,800) 0 0
(Gain) loss on acquisition and divestiture activity 986 0 (10,783)
Gain on sale of other real estate owned (170) (47) (1,396)
Income on bank-owned life insurance (1,048) (975) (995)
Deferred income taxes 97 (3,631) 6,129
Equity method investments (income) loss 2,499 713 (17,428)
Equity method investment gain 0 (1,874) 0
Return on equity method investments 714 8,275 31,032
Other assets (6,925) (2,438) (1,440)
Other liabilities 1,657 (12,426) 2,689
Net cash from operating activities 58,233 7,353 34,815
INVESTING ACTIVITIES      
Purchases of available-for-sale investment securities (89,522) (89,600) (216,621)
Maturities/paydowns of available-for-sale investment securities 76,631 20,973 49,248
Sales of available-for-sale investment securities 54,531 60,635 146,011
Purchases of premises and equipment (1,915) (3,041) (4,865)
Disposals of premises and equipment 425 49 300
Net change in loans 39,092 (576,303) (460,672)
Proceeds of loans held for investment sold 14,934 61,659 0
Purchases of restricted bank stock 0 (61,245) (1,410)
Redemptions of restricted bank stock 0 53,048 2,364
Proceeds from maturities of certificates of deposit with banks 0 2,719 9,084
Proceeds from sale of other real estate owned 539 1,482 3,818
Purchase of bank-owned life insurance 0 (7) 0
Purchase of equity method investments (2,744) (38,400) (500)
Purchase of equity securities (345) (4,452) (2,982)
Proceeds from sale of equity securities 566 1,356 543
Net cash transferred for sale of discontinued operations (3,935) 0 0
Net cash transferred in divestiture activity (8) 0 0
Net cash transferred for banking center sale 0 0 (95,500)
Cash paid for acquisitions, net of cash acquired 0 0 (772)
Net cash from investing activities 88,249 (571,127) (571,954)
FINANCING ACTIVITIES      
Net increase in deposits 330,994 192,877 558,342
Net change in repurchase agreements (5,216) (1,348) 1,119
Net change in FHLB and other borrowings (102,333) 102,333 0
Issuance of subordinated debt 0 0 30,000
Issuance of senior term loan 0 10,000 0
Principal payments on senior term loan (3,030) (125) 0
Preferred stock redemption 0 0 (7,334)
Common stock options exercised 637 2,069 4,930
Withholding cash issued in lieu of restricted stock (846) (670) (249)
Cash dividends paid on common stock (8,639) (8,355) (6,038)
Cash dividends paid on preferred stock 0 0 (35)
Redemption of noncontrolling interest (100) 0 0
Issuance of subsidiary membership units 0 0 500
Stock purchase from noncontrolling interest 0 (41) 0
Net cash from financing activities 211,467 296,617 580,683
Net change in cash and cash equivalents 357,949 (267,157) 43,544
Cash and cash equivalents, beginning of period 40,280 307,437 263,893
Cash and cash equivalents, end of period 398,229 40,280 307,437
Cash payments for:      
Interest on deposits, repurchase agreements and borrowings 66,708 12,285 6,152
Income taxes 13,082 2,285 11,960
Business combination non-cash disclosures:      
Assets acquired in business combination, net of cash acquired 0 0 739
Liabilities assumed in business combination 0 0 605
Supplemental disclosure of cash flow information:      
Fair value of noncontrolling interests at acquisition date 0 0 1,400
Loans transferred to other real estate owned 0 299 357
Change in unrealized holding gains (losses) on securities available-for-sale (11,828) 47,508 (9,595)
Restricted stock units vested 130 75 77
Tax withholding obligations on restricted stock units issued 98 18 7
Creation of servicing assets from loan sales 501 1,296 0
Loans transferred to loans held-for-sale 6,621 914 0
Common stock issued related to acquisitions 0 9,579 5,074
Impact of adopting ASC 326, net of tax 6,642 0 0
Subordinated Debt      
FINANCING ACTIVITIES      
Payment of debt issuance costs 0 0 552
Senior Loans      
FINANCING ACTIVITIES      
Payment of debt issuance costs $ 0 $ 123 $ 0