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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 18,679 $ 19,313  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,100 907  
Non-cash operating lease expense 0 398  
Deferred taxes 246 228  
Stock-based compensation 343 377  
Provision for credit losses 2,656 1,116 $ 6,811
Write-downs of other real estate owned and other repossessed assets 42 81  
Gains on sale of mortgage loans held for sale (45) (121)  
Securities gains 0 (4)  
Fair value adjustments in equity securities (371) (214)  
Gains on sale of assets, net (40) (37)  
Proceeds from sale of mortgage loans held for sale 1,758 4,658  
Funding of mortgage loans held for sale (1,619) (4,610)  
Amortization of securities premiums and discounts, net 595 752  
Change in cash surrender value of bank owned life insurance (983) (578)  
Changes in lease liabilities (187) (376)  
Mortgage servicing rights:      
Fair value adjustments (108) 397  
New servicing assets created (19) (50)  
Changes in:      
Accrued interest receivable 43 580  
Other assets (2,131) (658)  
Accrued interest payable 1,976 1,901  
Other liabilities 4,211 1,113  
Net cash provided by operating activities 26,146 25,173  
Securities available-for-sale (AFS):      
Purchase of AFS securities (8,448) (161)  
Proceeds from sales of AFS securities 1,084 18,561  
Proceeds from prepayments, calls, and maturities of AFS securities 54,263 20,710  
Change in loans, net (111,772) (67,837)  
Purchase of premises and equipment (2,181) (910)  
Proceeds from sale of stock by Federal Home Loan Bank 272 1,850  
Proceeds from sale of other real estate owned and repossessed assets 236 204  
Additional investment in other real estate owned and repossessed assets (13) 0  
Liquidation of cash surrender value of bank owned life insurance 870 0  
Proceeds from settlement of bank owned life insurance 396 0  
Net cash used in investing activities (65,293) (27,583)  
Cash flows from financing activities:      
Change in deposits, net 59,648 117,281  
Change in repurchase agreements and federal funds purchased, net 9,426 (6,654)  
Proceeds from Federal Home Loan Bank advances 0 50,000  
Payments on advances from Federal Home Loan Bank (5) (50,005)  
Proceeds from long-term debt/other borrowings 0 6,563  
Repayment of long-term debt/other borrowings (56) 0  
Issuance of common stock 291 278  
Dividends paid (8,259) (7,865)  
Net cash provided by financing activities 61,045 109,598  
Net increase in cash and cash equivalents 21,898 107,188  
Cash and cash equivalents at beginning of period 271,400 128,686 128,686
Cash and cash equivalents at end of period 293,298 235,874 $ 271,400
Supplemental disclosures:      
Income taxes paid 160 578  
Interest paid 29,435 15,177  
Non-cash activities:      
Loans to facilitate the sale of other real estate owned and repossessed assets 157 698  
Common stock dividends accrued, paid in subsequent quarter 281 279  
Real estate acquired in settlement of loans 31 51  
Right-of-use assets obtained in exchange for new operating lease liabilities $ 0 $ 364