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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 22,983 $ 17,299
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 1,575 1,514
Provision for credit losses* 1,477 6,600
Amortization of loan servicing rights 198 167
Net change in loan servicing rights valuation allowance (197) 246
Loans originated for sale, including participations (32,629) (16,801)
Net gain on sales of loans (1,233) (420)
Proceeds from sale of loans, including participations 25,692 13,601
Net (gain) loss on sale of premises and equipment (1) 21
Net gain on sales and calls of securities available-for-sale (753) 0
Net securities amortization 958 946
Stock based compensation expense 1,381 413
Losses (earnings) on life insurance (756) 292
Gain on life insurance (202) (570)
Tax benefit of stock award issuances (266) (71)
Net change:    
Interest receivable and other assets (1,415) (1,175)
Interest payable and other liabilities 7,095 (2,547)
Total adjustments 924 2,216
Net cash from operating activities 23,907 19,515
Cash flows from investing activities:    
Proceeds from sale of securities available-for-sale 13,506 0
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 31,734 16,393
Purchases of securities available-for-sale (161,224) (20,211)
Purchase of life insurance (528) (232)
Net (increase) decrease in total loans 174,303 (23,588)
Proceeds from sales of land, premises and equipment 2 18
Purchases of land, premises and equipment (2,162) (2,133)
Proceeds from life insurance 329 0
Net cash from investing activities 55,960 (29,753)
Cash flows from financing activities:    
Net increase in total deposits 193,165 147,884
Net increase (decrease) in short-term borrowings (10,500) 10,500
Payments on short-term FHLB borrowings 0 (170,000)
Proceeds from long-term FHLB borrowings 0 75,000
Common dividends paid (8,647) (7,689)
Payments related to equity incentive plan (1,648) (2,030)
Purchase of treasury stock (219) (10,227)
Net cash from financing activities 172,151 43,438
Net change in cash and cash equivalents 252,018 33,200
Cash and cash equivalents at beginning of the period 249,927 99,381
Cash and cash equivalents at end of the period 501,945 132,581
Cash paid during the period for:    
Interest 5,973 13,107
Supplemental non-cash disclosures:    
Loans transferred to other real estate owned 131 35
Securities purchases payable $ 5,855 $ 0