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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 51,168 $ 35,926 $ 38,802
Adjustments to reconcile net income to net cash provided by operating activities      
(Recovery of) provision for credit/loan losses (8,471) 12,668 3,571
Depreciation and amortization of premises and equipment 4,471 4,458 3,448
Amortization of premiums on investments, net 454 1,468 195
Amortization of FDIC indemnification asset, net 0 1,690 2,377
Amortization of intangible assets 1,446 1,450 997
Goodwill impairment 0 0 0
Accretion on acquired loans (4,656) (7,991) (3,231)
Equity-based compensation expense 1,281 1,643 1,481
Issuance of common stock to 401(k) plan 492 507 411
Loss (gain) on sale of premises and equipment, net 499 (59) (75)
Provision expense and loss on sale of other real estate owned 231 319 1,253
(Gain) loss on sale of securities 0 (385) 43
Writedowns of property, plant & equipment 0 812 380
Decrease (increase) in other operating activities 1,300 (6,662) 7,003
Net cash provided by operating activities 48,215 45,844 56,655
Investing activities      
Proceeds from sale of available for sale securities 370 51,027 13,898
Proceeds from maturities, prepayments, and calls of securities available for sale 27,256 44,676 32,863
Proceeds from maturities and calls of securities held to maturity 0 0 25,000
Payments to acquire securities available for sale (22,394) (10,267) (8,255)
Proceeds from repayments (Originations of) loans, net 27,467 (69,259) 85,233
Redemption of (payments for) FHLB stock, net 1,012 (12) 129
Cash proceeds from mergers, acquisitions, and divestitures, net 0 0 25,863
Payments to the FDIC 0 (30) (152)
Proceeds from sale of premises and equipment 2,616 2,861 1,955
Payments to acquire premises and equipment (3,038) (3,195) (8,411)
Proceeds from sale of other real estate owned 2,061 1,997 3,254
Net cash provided by investing activities 35,350 17,798 171,377
Financing activities      
Increase in noninterest-bearing deposits, net 69,988 144,927 12,604
Increase (decrease) in interest-bearing deposits, net 113,156 71,408 (41,445)
Increase (decrease) securities sold under agreements to repurchase, net 572 (637) (27,769)
Repayments of FHLB and other borrowings, net 0 (40) 0
Proceeds from stock options exercised 538 0 136
Payments for repurchase of common stock (28,882) (21,872) (16,362)
Payments of common stock dividends (18,059) (17,876) (15,060)
Net cash provided by (used in) financing activities 137,313 175,910 (87,896)
Net increase in cash and cash equivalents 220,878 239,552 140,136
Cash and cash equivalents at beginning of period 456,561 217,009 76,873
Cash and cash equivalents at end of period 677,439 456,561 217,009
Supplemental disclosure -- cash flow information      
Cash paid for interest 3,141 5,500 5,661
Cash paid for income taxes 14,399 9,074 8,057
Supplemental transactions -- non-cash items      
Transfer of loans to other real estate 1,283 695 3,160
Loans originated to finance other real estate 59 266 484
Increase in accumulated other comprehensive income(loss) 377 (417) (77)
Fair value of assets acquired 0 0 556,005
Fair value of liabilities assumed 0 0 506,179
Net assets acquired 0 0 49,826
Common stock issued in acquisition $ 0 $ 0 $ 86,631