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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 35,356 $ 47,241
Adjustments to reconcile net income to net cash from operating activities:    
Provision (credit) for credit losses 8,232 (15)
Provision for unfunded loans 635 721
Depreciation and amortization 5,779 3,475
Net amortization of securities 690 3,846
Available for sale security (gains) losses 498 36
Realized (gains) losses on equity securities (8) 52
Loss on premises and equipment sales and disposals, net 149 20
Stock compensation expense 2,008 1,316
Earnings on bank owned life insurance (1,720) (1,220)
Income recognized from death benefit on bank owned life insurance (105) 0
Origination of loans held for sale (52,342) (86,710)
Proceeds from loans held for sale 52,401 90,794
Net gains on sale of loans (1,111) (1,820)
Net change in other assets and liabilities (2,012) 1,441
NET CASH FROM OPERATING ACTIVITIES 48,450 59,177
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 44,870 63,340
Proceeds from sales of securities available for sale 85,306 2,624
Purchases of securities available for sale (650) (239,140)
Proceeds from sales of equity securities 46 60
Purchase of equity securities (52) (65)
Proceeds from maturities and repayments of SBIC funds 754 2,052
Purchases of SBIC funds (749) (1,911)
Proceeds from redemption of regulatory stock 26,076 1,705
Purchase of regulatory stock (20,170) (5,833)
Loan originations and payments, net (24,237) (71,709)
Proceeds from BOLI death benefit 419 0
Proceeds from land and building sales 0 1,067
Additions to premises and equipment (1,977) (1,811)
Net cash paid in business combinations (13,175) (1,033)
NET CASH FROM INVESTING ACTIVITIES 96,461 (250,654)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 74,069 19,916
Net change in short-term borrowings (170,000) 155,000
Cash dividends paid (19,064) (16,248)
Repurchase of common shares (11,544) 0
NET CASH FROM FINANCING ACTIVITIES (126,539) 158,668
NET CHANGE IN CASH AND CASH EQUIVALENTS 18,372 (32,809)
Beginning cash and cash equivalents 75,551 112,790
Ending cash and cash equivalents 93,923 79,981
Supplemental cash flow information:    
Interest paid 57,384 8,799
Supplemental noncash disclosures:    
Issuance of stock awards 1,658 2,184
Issuance of stock for business combinations 59,202 0
Lease liabilities arising from obtaining right-of-use assets $ 1,289 $ 2,946