v3.25.3
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 $ (58,472) $ 11,438
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Provision for credit losses 79,091 14,013
Goodwill impairment 12,900 0
Depreciation and amortization 3,257 3,227
Change in right of use asset 379 155
Amortization/Accretion of investments (2,686) 13
(Gain) loss on sale/call of securities 0 0
Loss (gain) on sale of assets 362 (14,725)
Repossessed asset write downs, gains and losses on dispositions 24 383
Interest expense paid-in-kind 1,595 0
FHLB stock dividends (373) (561)
Change in operating lease liabilities (352) (146)
Change in other assets and liabilities, net (19,228) 952
Net Cash Provided By Operating Activities 16,497 14,749
Cash Flows From Investing Activities    
Proceeds from maturities, calls and sales of AFS securities 184,045 52,211
Funds invested in certificates of deposit 0 (250)
Funds invested in AFS securities (269,682) (309,922)
Funds invested in Federal Home Loan Bank stock 0 (4,265)
Proceeds from sale/redemption of Federal Home Loan Bank stock 0 8,724
Net decrease (increase) in loans 377,772 (34,324)
Purchase of premises and equipment (1,169) (2,754)
Proceeds from sales of premises and equipment 1,238 14,901
Proceeds from sales of other real estate owned 142 318
Net Cash Provided By (Used In) Investing Activities 292,346 (275,361)
Cash Flows From Financing Activities    
Net (decrease) increase in deposits (121,363) 420,831
Net increase (decrease) in federal funds purchased and short-term borrowings 108 (59,316)
Repayment of long-term borrowings (1,008) (43,023)
Proceeds from subordinated debentures 0 29,700
Proceeds from issuance of common stock 5,546 334
Dividends paid on preferred stock (1,746) (1,747)
Dividends paid on common stock (405) (5,001)
Net Cash (Used In) Provided By Financing Activities (118,868) 341,778
Net Increase In Cash and Cash Equivalents 189,975 81,166
Cash and Cash Equivalents at the Beginning of the Period 564,208 286,455
Cash and Cash Equivalents at the End of the Period 754,183 367,621
Noncash Activities:    
Acquisition of real estate in settlement of loans 7,568 423
Premises transferred to other real estate owned 4,352 0
Common stock issued for debt conversion 15,000 0
Common stock issued for payment-in-kind 1,595 0
Cash Paid During The Period:    
Interest on deposits and borrowed funds 99,687 92,182
Federal income taxes    
Cash Paid During The Period:    
Income taxes paid 4,100 0
State income taxes    
Cash Paid During The Period:    
Income taxes paid $ 0 $ 0