v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net income $ 22,857 $ 21,605
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for credit losses 6,227 (3,960)
Depreciation and amortization of premises and equipment and equipment for operating leases 4,360 4,782
Deferred income tax expense 565 5,154
Net accretion of purchase accounting adjustments on loans (373) (784)
Net amortization and accretion 1,467 1,586
Loss (gain) from sale of premises and equipment (1,115) 87
Gain on sale of REO 0 (3)
Loss incurred at the end of operating leases 189 92
BOLI income (1,021) (1,008)
Gain on sale of loans held for sale (2,688) (7,958)
Origination of loans held for sale (116,402) (301,898)
Proceeds from sale of loans held for sale 115,754 303,911
New deferred loan origination fees, net (2,855) (273)
Decrease in accrued interest receivable and other assets (6,220) (2,255)
ESOP compensation expense 644 766
Share-based compensation expense 1,031 900
Decrease in other liabilities (1,989) (3,391)
Net cash provided by operating activities 20,431 17,353
Investing activities    
Purchases of debt securities available for sale (59,056) (7,011)
Proceeds from maturities, calls and paydowns of debt securities available for sale 36,389 40,042
Purchases of commercial paper (210,292) (291,652)
Proceeds from maturities and calls of commercial paper 406,269 227,499
Purchases of CDs in other banks (9,455) (996)
Proceeds from maturities of CDs in other banks 3,635 7,116
Net (purchases) redemptions of FHLB and FRB stock (4,335) 3,170
Net (purchases) redemptions of SBIC investments, at cost 344 (1,577)
Net (increase) decrease in loans (208,031) 34,131
Purchase of BOLI (33) (93)
Purchase of equipment for operating leases (4,918) (1,677)
Sale of equipment for operating leases 4,120 1,558
Purchase of premises and equipment (1,157) (4,886)
Proceeds from sale of premises and equipment and assets held for sale 9,634 1,693
Proceeds from sale of REO 3 146
Net cash provided by (used in) investing activities (36,883) 7,463
Financing activities    
Net increase (decrease) in deposits (51,741) 43,150
Net increase (decrease) in short-term borrowings 130,000 (97,000)
Proceeds from long-term borrowings 0 30,000
Common stock repurchased 0 (19,403)
Cash dividends paid (2,862) (2,694)
Retired stock (95) (75)
Exercised stock options 1,065 5,042
Net cash provided by (used in) financing activities 76,367 (40,980)
Net increase (decrease) in cash and cash equivalents 59,915 (16,164)
Cash and cash equivalents at beginning of period 105,119 50,990
Cash and cash equivalents at end of period 165,034 34,826
Cash paid during the period for:    
Interest 4,988 2,929
Income taxes 1,156 192
Noncash transactions:    
Unrealized loss in value of debt securities available for sale, net of income taxes (1,330) (914)
Transfer of loans held for sale to loans held for investment 8,753 11,629
Transfer of loans held for investment to loans held for sale 0 12,827
ROU asset and lease liabilities for operating lease accounting 2,108 946
Transfer of premises and equipment to assets held for sale (included in other assets) $ 0 $ 3,229