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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 6,174 $ 9,121 $ 8,907 $ 13,852  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     2,788 2,088  
Accretion of fair value purchase accounting adjustments, net     (2,729) (3,091)  
Provision for loan losses 2,850 393 6,049 1,190  
Stock compensation expense     223 276  
Gain from redemption and sale of securities available-for-sale (16) (33) (16) (33)  
Deferred income tax expense     209 1,039  
Increase in cash surrender value of bank owned life insurance     (345) (314)  
Loss on disposal of fixed assets     0 14  
Net (gains) losses from sale of other real estate owned     81 (16)  
Net gains from sale of loans     (1,515) (674)  
Origination of loans held for sale     (49,888) (33,491)  
Proceeds from sales of loans held for sale     50,929 32,057  
Net change in:          
Accrued interest receivable     (5,236) (612)  
Accrued interest payable     318 454  
Other assets     (10,018) (593)  
Other liabilities     1,523 5,792  
Net cash provided by operating activities     1,280 17,938  
Cash flows from investing activities:          
Proceeds from sales of securities available-for-sale 4,760 13,342 6,875 16,515  
Proceeds from maturities and calls of securities available-for-sale     15,450 10,305  
Proceeds from paydowns of securities available-for-sale     9,144 6,554  
Purchases of securities available-for-sale     (41,958) (1,054)  
Purchases of other investments     (1,223) (1,406)  
Net increase in loans     (321,192) (55,323)  
Purchases of premises and equipment     (3,417) (2,011)  
Proceeds from sale of other real estate owned     406 1,100  
Net cash and cash equivalents received from business combination     46,132 0  
Net cash used in investing activities     (289,783) (25,320)  
Cash flows from financing activities:          
Net increase in deposits     220,128 90,136  
Net decrease in securities sold under agreements to repurchase     (527) (3,537)  
Proceeds from borrowings     338,340 120,176  
Repayment borrowings     (50,581) (115,959)  
Cash dividends paid     (1,463) 0  
Issuance of common stock     178 278  
Purchase of common stock     (2,075) 0  
Net cash provided by financing activities     504,000 91,094  
Net change in cash and cash equivalents     215,497 83,712  
Cash and cash equivalents, beginning of period     183,970 115,822 $ 115,822
Cash and cash equivalents, end of period $ 399,467 $ 199,534 399,467 199,534 $ 183,970
Supplemental disclosures of cash flow information:          
Cash paid during the period for interest     9,308 11,993  
Cash paid during the period for income taxes     2,948 2,630  
Noncash investing and financing activities:          
Acquisition of real estate through foreclosure     971 403  
Change in goodwill due to acquisitions     8,532 0  
Initial recognition of operating lease right-of-use assets     484 2,344  
Initial recognition of operating lease liabilities     $ 484 $ 2,344