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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net income $ 15,215 $ 5,363
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes 264 (40)
Provision for loan losses   2,500
Depreciation and amortization 2,345 2,167
Amortization and accretion of premiums/discounts on investment securities 794 305
Amortization of operating lease right-of-use assets (8) (6)
Stock-based compensation 498 235
Increase in value of bank-owned life insurance (193) (197)
Realized loss (gain) on sale of fixed assets (27)  
Realized loss (gain) on derivative instruments (713) 881
Realized loss (gain) on loans sold (14,201) (5,654)
Realized loss (gain) on sale of foreclosed assets (23) (63)
Realized loss (gain) on sale of investment securities (114)  
Realized loss (gain) on servicing rights (165) 381
Net change in:    
Loans held for sale 57,823 (19,846)
Accrued interest receivable 391 126
Other assets (2,050) (2,239)
Accrued expenses and other liabilities (4,995) (5,079)
Net cash provided (used) by operating activities 54,841 (21,166)
Investing Activities    
Proceeds from sales or calls of investment securities available-for-sale 13,189 4,000
Proceeds from maturities of investment securities available-for-sale 27,307 9,003
Purchases of investment securities available-for-sale (262,081) (50,148)
Net (increase) decrease in equity securities   2,808
Net (increase) decrease in loans 41,391 (36,637)
Purchases of premises and equipment (277) (689)
Proceeds from sales of foreclosed assets 101 96
Net cash provided (used) by investing activities (180,370) (71,567)
Financing Activities    
Net increase (decrease) in deposits 145,580 150,198
Repayments of long-term debt (49,748) (51)
Proceeds from the issuance of Subordinated Debt 50,000  
Cash dividends paid on common stock (2,602) (2,595)
Repurchase of common stock (446) (336)
Net cash provided (used) by financing activities 142,784 147,216
Net change in cash and cash equivalents 17,255 54,483
Cash and cash equivalents at beginning of period 172,962 144,006
Cash and cash equivalents at end of period 190,217 198,489
Cash paid for:    
Interest 1,405 3,546
Income taxes 736  
Non-cash information    
Loan collateral transferred to foreclosed assets 154 234
Unrealized gain (loss) on investment securities available-for-sale $ (13,594) 5,213
Right-of-use assets obtained in exchange for new operating leases   $ 183