XML 21 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 4,109 $ 9,999
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 12,136 5,481
Depreciation, amortization and accretion, net 2,692 2,721
Change in cash surrender value of bank owned life insurance (637) (431)
Stock-based compensation expense 262 204
Operating lease payments (711) (677)
Gains on investment securities, net (4) (531)
Gain on sales of repossessed assets, net (35) (162)
Gain on sale of premises and equipment 0 (26)
Gains on sale of loans held for sale, net (1,229) (353)
Decrease in accrued interest receivable 2,034 155
(Decrease) increase in accrued interest payable 262 (164)
Origination of loans held for sale (42,379) (20,039)
Proceeds from sale of loans held for sale 40,839 20,961
Increase in other investment (84) 0
(Increase) decrease in other assets 454 (937)
Decrease in other liabilities 3,844 413
Net cash provided by operating activities 21,553 16,614
Cash flows from investing activities:    
Proceeds from maturities of certificates of deposit investments 0 1,225
Purchases of certificates of deposit investments 0 (980)
Proceeds from maturities of securities available-for-sale 68,541 108,666
Proceeds from maturities of securities held-to-maturity 0 45,000
Purchases of securities available-for-sale (177,116) (44,830)
Net (increase) decrease in loans 26,319 (50,059)
Purchases of premises and equipment (1,195) (786)
Proceeds from sales of other real property owned 116 1,211
Investment in banked owned life insurance (25,000) 0
Net cash provided by acquisition 27,061 0
Net cash (used in) provided by investing activities (81,274) 59,447
Cash flows from financing activities:    
Net increase (decrease) in deposits 54,499 (8,739)
Decrease in federal funds purchased 0 (5,000)
Increase in repurchase agreements 5,566 23,540
Proceeds from FHLB advances 0 15,000
Repayment of FHLB advances (5,000) (9,000)
Proceeds from long-term debt 0 5,000
Proceeds from issuance of common stock 179 85
Dividends paid on common stock (3,257) 0
Net cash provided by financing activities 51,987 20,886
Increase (decrease) in cash and cash equivalents (7,734) 96,947
Cash and cash equivalents at beginning of period 417,281 85,080
Cash and cash equivalents at end of period 409,547 182,027
Cash paid during the period for:    
Interest 3,183 5,100
Income taxes 0 0
Supplemental disclosures of noncash investing and financing activities    
Loans transferred to other real estate 45 184
Dividends reinvested in common stock 171 0
Net tax benefit related to option and deferred compensation plans 179 22
LINCO Bancshares, Inc.    
Supplemental disclosure of purchase of capital stock:    
Fair value of assets acquired 1,173,443 0
Cash paid 103,500 0
Common stock issued 44,191 0
Total consideration paid 147,691 0
Fair value of liabilities assumed $ 1,025,752 $ 0