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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 26,463 $ 16,924 $ 12,805
Adjustments to reconcile net income to net cash provided by operating activities:      
Net discount (accretion) premium amortization (4,481) (2,547) 1,406
Depreciation and amortization expense 6,573 5,547 3,642
Impairment of intangibles 153 0 0
Provision for loan losses 5,325 900 800
Share-based compensation 2,092 1,586 1,493
Gain on sales of loans originated for sale (6,067) (2,613) (2,144)
Mortgage loans originated for sale (207,051) (112,568) (90,305)
Proceeds from sales of loans originated for sale 208,987 108,885 94,727
Gain on sale of portfolio loans (2,803) 0 (291)
Net loss (gain) on disposal of OREO 152 (156) (108)
Writedown of OREO 544 0 24
Net loss on disposal of premises and equipment 2 139 12
Deferred income taxes (1,973) 1,776 543
Investment securities losses (gains) 16 (4,749) (1,006)
Gains on termination of rate swap (226) 0 0
Income from life insurance (2,261) (2,044) (1,463)
(Increase) decrease in accrued interest receivable (2,887) 1,248 (879)
Increase (decrease) in accrued interest payable and other liabilities 953 (5,291) 2,696
Other, net 6,660 2,053 535
Net cash provided by operating activities 30,171 9,090 22,487
Cash flows from investing activities      
Proceeds from sales of AFS securities 0 199,429 156,364
Maturities, repayments and calls of AFS securities 56,239 33,265 18,373
Purchases of AFS securities (26,691) (190,530) (226,014)
Net cash and cash equivalents received from acquisitions 0 29,442 12,407
Net purchases of restricted investments in bank stocks 5,621 (2,684) (592)
Net decrease (increase) in loans (349,947) (46,157) (99,828)
Proceeds from sales of portfolio loans 22,665 0 3,589
Purchases of bank premises and equipment (1,303) (2,911) (4,791)
Proceeds from disposal of OREO 4,096 1,318 1,413
Proceeds from sale of rate swap 218 0 0
Purchases of bank owned life insurance (3,636) (3,280) (900)
Death benefit proceeds from life insurance contracts 391 571 576
Other 0 0 7
Net cash provided by (used in) investing activities (292,347) 18,463 (139,396)
Cash flows from financing activities      
Net increase (decrease) in deposits 481,277 (71,561) 178,798
Net (decrease) increase n borrowings with original maturities less than 90 days (135,402) 115,800 (14,507)
Proceeds from other short-term borrowings 126,599 20,000 25,000
Payments on other short-term borrowings (131,622) (116,776) (40,365)
Proceeds from subordinated notes, net of issuance costs 0 0 31,857
Payment of subordinated notes issuance costs 0 (59) 0
Dividends paid (7,610) (6,150) (4,375)
Acquisition of treasury stock (1,170) 0 0
Treasury shares repurchased for employee taxes associated with restricted stock vesting (717) (1,772) (651)
Proceeds from issuance of stock for option exercises and employee stock purchase plan 116 113 160
Net cash (used in) provided by financing activities 331,471 (60,405) 175,917
Net increase (decrease) in cash and cash equivalents 69,295 (32,852) 59,008
Cash and cash equivalents at beginning of year 55,963 88,815 29,807
Cash and cash equivalents at end of year 125,258 55,963 88,815
Supplemental disclosure of cash flow information:      
Cash paid for interest 16,665 24,313 12,930
Cash paid for income taxes 550 0 60
Supplemental schedule of noncash investing and financing activities:      
OREO acquired in settlement of loans 0 161 539
Premises and equipment transferred to held for sale 0 4,894 1,003
Lease liabilities arising from obtaining ROU assets $ 400 $ 7,380 $ 0