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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,075,000 $ 15,844,000
Adjustments to reconcile net income to net cash from operating activities:    
Provision (credit) for credit losses 8,305,000 (930,000)
Provision for unfunded loans 294,000 572,000
Depreciation and amortization 1,899,000 1,162,000
Net amortization of securities 267,000 1,378,000
Available for sale security (gains) losses (120,000) 0
Realized (gains) losses on equity securities (1,000) 11,000
Loss on premises and equipment sales and disposals, net 0 112,000
Stock compensation expense 615,000 365,000
Earnings on bank owned life insurance (547,000) (409,000)
Origination of loans held for sale (12,947,000) (41,419,000)
Proceeds from loans held for sale 14,016,000 45,369,000
Net gains on sale of loans (310,000) (1,129,000)
Net change in other assets and liabilities (4,850,000) (7,727,000)
NET CASH FROM OPERATING ACTIVITIES 13,696,000 13,199,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 12,756,000 22,712,000
Proceeds from sales of securities available for sale 69,918,000 0
Purchases of securities available for sale (450,000) (172,437,000)
Proceeds from sales of equity securities 10,000 18,000
Purchase of equity securities (13,000) (17,000)
Proceeds from maturities and repayments of SBIC funds 166,000 454,000
Purchases of SBIC funds (671,000) (454,000)
Proceeds from redemption of regulatory stock 12,721,000 0
Purchase of regulatory stock (10,644,000) (3,572,000)
Loan originations and payments, net (6,496,000) 24,098,000
Proceeds from land and building sales 0 21,000
Additions to premises and equipment 0 (346,000)
Net cash paid in business combinations (13,175,000) 0
NET CASH FROM INVESTING ACTIVITIES 64,122,000 (129,523,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits (41,421,000) 146,576,000
Net change in short-term borrowings 34,000,000 0
Cash dividends paid (6,403,000) (5,415,000)
Repurchase of common shares (11,544,000) 0
NET CASH FROM FINANCING ACTIVITIES (25,368,000) 141,161,000
NET CHANGE IN CASH AND CASH EQUIVALENTS 52,450,000 24,837,000
Beginning cash and cash equivalents 75,551,000 112,790,000
Ending cash and cash equivalents 128,001,000 137,627,000
Supplemental cash flow information:    
Interest paid 16,356,000 1,498,000
Supplemental noncash disclosures:    
Issuance of stock awards 431,000 1,398,000
Issuance of stock for business combinations $ 59,202,000 $ 0