XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 26,175 $ 16,404
Adjustments to reconcile net income to net cash provided by operating activities:    
Net discount accretion (690) (2,898)
Depreciation and amortization expense 4,014 4,980
Impairment of intangibles 0 153
Provision for loan losses (10) 5,025
Share-based compensation 1,428 1,613
Gains on sales of loans originated for sale (3,980) (4,028)
Mortgage loans originated for sale (150,652) (147,647)
Proceeds from sales of loans originated for sale 159,425 146,890
Gains on sale of portfolio loans 0 (2,803)
Net gain on disposal of OREO 0 164
Writedown of OREO 0 544
Deferred income taxes (267) (672)
Investment securities (gains) losses (635) 44
Loss on derivative terminations 514 0
Income from life insurance (1,690) (1,615)
Decrease (increase) in accrued interest receivable 912 (2,772)
Increase in accrued interest payable and other liabilities (221) (504)
Other, net (4,108) 3,460
Net cash provided by operating activities 30,215 16,338
Cash flows from investing activities    
Proceeds from sales of AFS securities 149,038 0
Maturities, repayments and calls of AFS securities 30,525 38,970
Purchases of AFS securities (156,912) (26,691)
Net redemptions of restricted investments in bank stocks 3,512 3,538
Net decrease in loans 41,504 65,605
Proceeds from sales of portfolio loans 0 22,665
Purchases of bank premises and equipment (891) (914)
Proceeds from disposal of OREO 0 3,734
Proceeds from disposal of bank premises and equipment 0 59
Purchases of bank owned life insurance 0 (3,636)
Net cash provided by investing activities 66,776 103,330
Cash flows from financing activities    
Net increase (decrease) in deposits 145,203 (63,761)
Net increase (decrease) in borrowings with original maturities less than 90 days 8,129 (137,424)
Proceeds from FHLB advances and other borrowings 0 180,955
Payments on FHLB advances and other borrowings (56,042) (60,649)
Settlement of terminated derivatives (525) 0
Dividends paid (6,152) (5,712)
Acquisition of treasury stock (1,069) (1,170)
Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting (514) (679)
Proceeds from issuance of employee stock purchase plan shares 136 116
Net cash provided by (used in) financing activities 89,166 (88,324)
Net increase in cash and cash equivalents 186,157 31,344
Cash and cash equivalents at beginning of period 125,258 55,963
Cash and cash equivalents at end of period 311,415 87,307
Cash paid during the period for:    
Interest 5,007 13,387
Income taxes $ 4,100 $ 0