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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 $ 14,181 $ 8,813
Adjustments to reconcile net income to net cash provided by operations:    
Provision for credit loss expense 2,122 3,079
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 1,721 1,299
Amortization and accretion of securities premiums and discounts, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (963) (812)
Amortization and accretion of deferred PPP processing fees (2,731) 0
Net realized and unrealized (gains) losses on trading securities (120) 588
Gain on sale of loans (1,144) (243)
Net losses (gains) on dispositions of premises and equipment and foreclosed assets 42 (15)
Proceeds from sale of loans 22,807 8,536
Origination of loans held for sale (18,612) (9,412)
Income on bank owned life insurance, including death benefit proceeds in excess of cash surrender value (940) (479)
Stock-based compensation expense 509 549
Changes in:    
Accrued interest receivable and other assets (2,190) (4,061)
Accrued interest payable, lease liabilities, and other liabilities (3,572) (1,285)
NET CASH PROVIDED BY OPERATING ACTIVITIES 11,110 6,557
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, prepayments and calls of available-for-sale securities 44,082 31,389
Purchase of available-for-sale securities (84,961) (46,882)
Proceeds from sale of trading securities 0 5,860
Purchase of trading securities (108) (2,000)
Loan origination and payments, net (22,471) (46,383)
Proceeds from death benefit of BOLI policies 1,389 0
Redemption (purchase) of FHLB, other equity, and restricted equity interests 555 (107)
Purchase of premises and equipment (1,439) (1,327)
Proceeds from the sale of premises and equipment and foreclosed assets 130 145
NET CASH USED BY INVESTING ACTIVITIES (62,823) (59,305)
Net change in:    
Checking, money market and savings accounts 193,911 888
Certificates of deposit (17,555) (2,999)
Purchase of treasury stock (159) (324)
Cash dividends paid, common stock (2,860) (2,618)
Cash dividends paid, preferred stock (1,075) 0
Proceeds from common stock offering, net of issuance costs 0 3,353
Repayment of long-term borrowings 0 (2,185)
NET CASH PROVIDED BY FINANCING ACTIVITIES 172,262 (3,885)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 120,549 (56,633)
CASH AND CASH EQUIVALENTS, Beginning 532,694 192,974
CASH AND CASH EQUIVALENTS, Ending 653,243 136,341
Cash paid during the period for:    
Interest 5,053 9,933
Income taxes 726 78
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers to other real estate owned 4 165
Grant of restricted stock awards from treasury stock 1,228 892
Grant of performance based restricted stock awards from treasury stock $ 262 $ 217