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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 28,020 $ 12,411
Adjustments to reconcile net income to net cash provided by operating activities:    
Net premium amortization 1,534 1,319
Depreciation and amortization expense 3,194 3,536
Provision for credit losses 1,264 3,575
Share-based compensation 1,763 1,608
Gains on sales of loans originated for sale (214) (1,305)
Fair value adjustments on loans held for sale 182 1,405
Mortgage loans originated for sale (14,924) (72,247)
Proceeds from sales of loans originated for sale 19,388 67,554
Gains on sale of portfolio loans 0 (306)
Net gain on sale of OREO and premises held for sale (436) 0
Writedown of OREO and premises held for sale 0 1,297
Net loss on disposal of premises and equipment 242 483
Deferred income tax expense (benefit) 339 (2,489)
Investment securities losses 8 163
Provision for legal settlement 0 13,000
Return on investments in limited partnerships (27) (964)
Net unrealized gains on derivatives (87) (83)
Income from life insurance (1,855) (1,742)
Premium on branch sale (1,102) 0
Decrease (increase) in accrued interest receivable and other assets 2,171 (1,660)
(Decrease) increase in accrued interest payable and other liabilities (9,975) 10,358
Other, net 520 1,845
Net cash provided by operating activities 30,005 37,758
Cash flows from investing activities    
Proceeds from sales of AFS securities 19,900 3,075
Maturities, repayments and calls of AFS securities 27,456 42,442
Purchases of AFS securities (39,387) (139,580)
Net (purchases) redemptions of restricted investments in bank stocks (2,345) 783
Net distributions from investments in limited partnerships 179 1,410
Net increase in loans (115,681) (109,424)
Proceeds from sales of portfolio loans 0 4,443
Investment in limited partnerships (1,037) 0
Purchases of bank premises and equipment (1,771) (805)
Proceeds from disposal of OREO and premises held for sale 2,536 0
Proceeds from disposal of premises and equipment 43 0
Net cash paid in branch sale (17,641) 0
Death benefit proceeds from life insurance contracts 342 142
Other (72) 0
Net cash used in investing activities (127,478) (197,514)
Cash flows from financing activities    
Net increase in deposits 88,924 40,917
Net increase (decrease) in borrowings with original maturities less than 90 days 13,306 (2,236)
Proceeds from FHLB advances with original maturities greater than 90 days 40,000 0
Payments on FHLB advances with original maturities greater than 90 days (1,455) (329)
Dividends paid (6,365) (6,244)
Acquisition of treasury stock (2,579) (14,056)
Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting (378) (262)
Proceeds from issuance of employee stock purchase plan shares 136 183
Net cash provided by financing activities 131,589 17,973
Net increase (decrease) in cash and cash equivalents 34,116 (141,783)
Cash and cash equivalents at beginning of period 60,823 208,710
Cash and cash equivalents at end of period 94,939 66,927
Cash paid during the period for:    
Interest 29,655 3,917
Income taxes 4,750 3,400
Supplemental schedule of noncash activities:    
Loans transferred from LHFS to portfolio loans 0 1,510
OREO acquired in settlement of loans 85 0
Premise and equipment transferred to held for sale 0 2,844
Lease liabilities arising from obtaining ROU assets $ 2,416 $ 94