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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 14,602 $ 7,872
Adjustments to reconcile net income to net cash provided by operating activities    
(Recovery of) provision for credit losses (4,001) 3,500
Depreciation and amortization of premises and equipment 1,125 1,090
Amortization of premiums on investments, net 85 1,243
Amortization of FDIC indemnification asset, net 280 486
Amortization of intangible assets 357 361
Accretion on acquired loans (1,187) (1,954)
Equity-based compensation expense 402 839
Issuance of common stock to 401(k) plan 148 174
Gain on sale of premises and equipment, net (64) (1)
Loss on sale of other real estate owned 316 300
Gain on sale of securities 0 (385)
Decrease in accrued interest receivable 328 560
Decrease/Increase in other operating activities 224 (2,712)
Net cash provided by operating activities 12,615 11,373
Investing activities    
Proceeds from sale of securities available for sale 0 51,027
Proceeds from maturities, prepayments, and calls of securities available for sale 6,489 10,751
Payments to acquire securities available for sale (11,675) 0
Proceeds from repayment of loans, net 45,985 19,052
Proceeds from (Purchase of) FHLB stock, net 1,012 (12)
Payments to the FDIC (3) (35)
Proceeds from sale of premises and equipment 128 5
Payments to acquire premises and equipment (922) (1,580)
Proceeds from sale of other real estate owned 428 1,279
Net cash provided by investing activities 41,442 80,487
Financing activities    
Increase (decrease) in noninterest-bearing deposits, net 51,781 (7,576)
Increase (decrease) in interest-bearing deposits, net 75,072 (33,922)
Proceeds from (repayments) of securities sold under agreements to repurchase, net 555 (253)
Repayments of FHLB and other borrowings, net 0 960
Proceeds from stock options exercised 132 0
Payments for repurchase of common stock (4,985) (21,872)
Payments of common dividends (4,428) (4,593)
Net cash provided by (used in) financing activities 118,127 (67,256)
Net increase in cash and cash equivalents 172,184 24,604
Cash and cash equivalents at beginning of period 456,561 217,009
Cash and cash equivalents at end of period 628,745 241,613
Supplemental disclosure -- cash flow information    
Cash paid for interest 1,072 1,514
Cash paid for income taxes 4,744 1,454
Supplemental transactions -- noncash items    
Transfer of loans to other real estate owned 460 377
Loans originated to finance other real estate owned 59 265
(Increase) decrease in accumulated other comprehensive loss $ (732) $ 367