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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 24,604 $ 18,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 4,265 1,779
Net amortization of securities 2,472 2,535
Change in unamortized net loan costs and premiums 3,149 (278)
Premises and equipment depreciation 3,571 2,942
Stock-based compensation expense 863 716
Accretion of purchase accounting entries, net (1,219) (2,613)
Amortization of other intangibles 768 621
Income from cash surrender value of bank-owned life insurance policies (1,525) (1,558)
Gain on sales of securities, net (1,486) (157)
Increase in right-of-use lease assets (578)  
Increase in lease liabilities 625  
Loss on other real estate owned 366 146
Loss on premises and equipment, net 90 21
Net change in other assets and liabilities (3,978) (1,722)
Net cash provided by operating activities 31,987 20,845
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 87,521 67,983
Proceeds from maturities, calls and prepayments of securities available for sale 109,314 77,812
Purchases of securities available for sale (131,107) (76,620)
Net change in loans (71,233) (85,483)
Purchase of FHLB stock (4,044) (10,471)
Proceeds from sale of FHLB stock 10,748 18,661
Purchase of premises and equipment, net (4,449) (1,803)
Acquisitions, net of cash acquired (340)  
Proceeds from sale of other real estate (113)  
Net cash used in investing activities (3,703) (9,921)
Cash flows from financing activities:    
Net change in deposits 239,164 10,968
Net change in short-term senior borrowings (273,268) (111,400)
Proceeds from long-term senior borrowings 273,342 174,000
Repayments of long-term senior borrowings (71,187) (106,605)
Net change in short-term other borrowings (14,784) 5,048
Net change in subordinated debt issuance costs 119  
Exercise of stock options 682 195
Purchase of treasury and common stock (13,470) (346)
Cash dividends paid on common stock (10,135) (9,945)
Net cash provided by (used in) financing activities 130,463 (38,085)
Net change in cash and cash equivalents 158,747 (27,161)
Cash and cash equivalents at beginning of year 56,910 98,754
Cash and cash equivalents at end of year 215,657 71,593
Supplemental cash flow information:    
Interest paid 22,085 34,394
Income taxes paid, net 4,806 2,479
Acquisition of non-cash assets and liabilities:    
Assets acquired 1,171  
Liabilities acquired $ (343)  
Other non-cash changes:    
Real estate owned acquired in settlement of loans   $ 250