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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 33,244 $ 22,620 $ 32,937
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 5,625 2,317 2,780
Net amortization of securities 3,367 3,341 3,945
Deferred tax benefit (38) 1,020 (443)
Change in unamortized net loan costs and premiums 1,104 (555) (600)
Premises and equipment depreciation 4,771 4,136 3,704
Stock-based compensation expense 1,570 1,373 1,346
Accretion of purchase accounting entries, net (1,975) (3,806) (3,512)
Amortization of other intangibles 1,025 861 828
Income from cash surrender value of bank-owned life insurance policies (2,007) (2,053) (1,821)
(Gain) loss on sales of securities, net (5,445) (237) 924
Increase in right-of-use lease assets (578) (632)  
Increase in lease liabilities 625 660  
(Gain) loss on other real estate owned (355) 166  
(Gain) loss on premises and equipment, net (32) 18  
Net change in other assets and liabilities (2,728) 7,174 (2,366)
Net cash provided by operating activities 38,173 36,403 37,722
Cash flows from investing activities:      
Proceeds from sales of securities available for sale 153,200 92,315 29,107
Proceeds from maturities, calls and prepayments of securities available for sale 151,829 115,334 95,629
Purchases of securities available for sale (215,567) (129,189) (146,763)
Net change in loans 53,400 (150,831) (5,158)
Purchase of FHLB stock (4,105) (11,687) (2,676)
Proceeds from sale of FHLB stock 10,748 26,667 5,122
Purchase of premises and equipment, net (6,776) (9,185) (4,793)
Proceeds from premises held for sale 903    
Net investment in community limited partnerships (2,750) (22) (585)
Purchase of bank-owned life insurance     (14,000)
Acquisitions, net of cash acquired (340) (18,383)  
Proceeds from sale of other real estate owned 2,205   153
Net cash provided by (used in) investing activities 142,747 (84,981) (43,964)
Cash flows from financing activities:      
Net change in deposits 210,464 212,693 131,981
Net change in short-term FHLB borrowings (248,262) (308,380) 37,000
Proceeds from long-term advances 148,199 328,097 42,700
Repayments of long-term advances (78,186) (237,719) (180,982)
Net change in short-term other borrowings (17,053) 8,621 (4,495)
Proceeds from subordinated debt issuance   40,000  
Repayments of subordinated debt   (22,000)  
Payment of subordinated debt issuance costs   (700)  
Exercise of stock options   (273)  
Exercise of stock options 620   615
Purchase of treasury and common stock (14,188) (239) (324)
Cash dividends paid on common stock (13,417) (13,366) (12,184)
Net cash (used in) provided by financing activities (11,823) 6,734 14,311
Net change in cash and cash equivalents 169,097 (41,844) 8,069
Cash and cash equivalents at beginning of year 56,910 98,754 90,685
Cash and cash equivalents at end of year 226,007 56,910 98,754
Supplemental cash flow information:      
Interest paid 27,423 45,755 36,511
Income taxes paid, net 10,045 2,371 9,891
Acquisition of non-cash assets and liabilities:      
Assets acquired 1,171 243,676  
Liabilities acquired $ (343) 261,814  
Other non-cash changes:      
Real estate owned acquired in settlement of loans   250 $ 2,380
Initial recognition of operating lease right-of-use assets   8,991  
Initial recognition of operating lease liabilities   $ 8,991