XML 78 R8.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 12,690 $ 11,653
Adjustments to reconcile net income to net cash provided by operating activities:    
Net premium amortization (discount accretion) (1,594) 1,356
Depreciation and amortization (including amortization of ROU assets) 3,970 2,572
Provision for loan losses 900 600
Share-based compensation 1,154 1,112
Net gain on sales of loans originated for sale (1,653) (1,687)
Mortgage loans originated for sale (78,242) (71,008)
Proceeds from sales of loans originated for sale 75,276 73,679
Gain on sale of portfolio loans 0 291
Net gain on disposal of OREO (8) (111)
Writedown of OREO 0 24
Net loss on disposal of premises and equipment 137 16
Deferred income taxes 1,348 756
Investment securities gains (4,731) (891)
Income from life insurance (1,505) (1,101)
(Increase) decrease in accrued interest receivable 742 (345)
Increase in accrued interest payable and other liabilities (5,618) (46)
Other, net 589 (1,158)
Net cash provided by operating activities 3,455 15,130
Cash flows from investing activities    
Proceeds from sales of AFS securities 199,910 113,180
Maturities, repayments and calls of AFS securities 22,934 12,793
Purchases of AFS securities (166,694) (211,014)
Net cash and cash equivalents received from acquisitions 29,442 0
Net redemptions of restricted investments in bank stocks 2,101 660
Net (increase) decrease in loans 4,023 (78,497)
Proceeds from sales of portfolio loans 0 3,589
Purchases of bank premises and equipment (3,226) (3,078)
Proceeds from disposal of OREO 724 1,260
Proceeds from disposal of bank premises and equipment 0 7
Purchases of bank owned life insurance (2,280) (900)
Proceeds from settlement of life insurance contracts 571 576
Net cash provided by (used in) investing activities 87,505 (161,424)
Cash flows from financing activities    
Net increase (decrease) in deposits (23,598) 209,655
Net decrease in borrowings with original maturities less than 90 days (2,464) (8,223)
Payments on other short-term borrowings (25,000) (40,000)
Proceeds from long-term debt 20,000 0
Payments on long-term debt (91,678) (272)
Subordinated note issuance costs (59) 0
Dividends paid (4,472) (3,166)
Treasury shares repurchased for employee taxes associated with restricted stock vesting (1,694) (651)
Proceeds from issuance of stock for option exercises and employee stock purchase plan 113 161
Net cash provided by (used in) financing activities (128,852) 157,504
Net increase (decrease) in cash and cash equivalents (37,892) 11,210
Cash and cash equivalents at beginning of period 88,815 29,807
Cash and cash equivalents at end of period 50,923 41,017
Cash paid during the period for:    
Interest 17,573 8,991
Income taxes 0 60
Supplemental schedule of noncash investing activities:    
OREO acquired in settlement of loans 161 538
ROU assets obtained in exchange for lease obligations $ 8,115 $ 0