XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net income, before noncontrolling interest $ 10,807 $ 23,090
Adjustments to reconcile net income, before noncontrolling interest, to net cash from operating activities:    
Net amortization and accretion of investments 1,583 1,521
Net amortization of deferred loan costs 1,478 1,133
Provision for credit losses 3,210 182
Depreciation and amortization 3,071 3,894
Stock-based compensation 2,142 2,572
Stock-based compensation related to equity method investments 312 277
Loans originated for sale 0 (402)
Proceeds of loans held-for-sale sold 0 23,562
Holding gain on equity securities (463) (71)
(Gain) loss on sale of available-for-sale securities, net (658) 1,536
(Gain) loss on sale of equity securities, net (103) 269
Gain on sale of loans held-for-sale 0 (256)
Gain (loss) on sale of loans held-for-investment (26) 1,271
Gain on sale of discontinued operations 0 (11,800)
Loss on acquisition and divestiture activity 0 986
Gain on sale of other real estate owned 0 (176)
Income on bank-owned life insurance (867) (870)
Deferred income tax (benefit) expense (340) 65
Equity method investments (income) loss (102) 70
Return on equity method investments 632 368
Other assets (8,460) (11,495)
Other liabilities (1,954) 4,963
Net cash from operating activities 10,262 40,689
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (57,956) (70,413)
Net maturities/paydowns of available-for-sale investment securities 10,377 75,098
Sales of available-for-sale investment securities 24,327 54,531
Purchases of premises and equipment (1,486) (1,441)
Disposals of premises and equipment 69 425
Net change in loans 141,028 87,505
Proceeds of loans held-for-investment sold 636 12,556
Proceeds from sale of other real estate owned 0 464
Investment in equity method investments (1,948) (1,214)
Purchase of equity securities (147) (169)
Proceeds from sale of equity securities 39 566
Net cash transferred for sale of discontinued operations 0 (3,935)
Net cash transferred in divestiture activity 0 (8)
Net cash from investing activities 114,939 153,965
FINANCING ACTIVITIES    
Net change in deposits 100,172 468,407
Net change in repurchase agreements (66) (5,535)
Net change in FHLB and other borrowings 0 (102,333)
Principal payments on senior term loan (6,850) (1,331)
Common stock options exercised 1,241 211
Withholding cash issued in lieu of restricted stock (481) (680)
Cash dividends paid on common stock (6,535) (6,473)
Redemption of noncontrolling interest 0 (100)
Net cash from financing activities 87,481 352,166
Net change in cash and cash equivalents 212,682 546,820
Cash and cash equivalents, beginning of period 398,229 40,280
Cash and cash equivalents, end of period 610,911 587,100
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 57,487 48,378
Income taxes 592 12,211
Supplemental disclosure of cash flow information:    
Change in unrealized holding losses on securities available-for-sale 7,226 (3,594)
Restricted stock units vested 111 131
Employee stock-based compensation tax withholding obligations (26) (36)
Impact of adopting ASC 326, net of tax 0 6,642
Creation of servicing assets from loan sales 0 406
Loans transferred to (out of) loans held-for-sale $ (629)  
Loans transferred to (out of) loans held-for-sale   $ 8,487