XML 20 R8.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 9,112 $ 9,480
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of loans held for sale (20,101) (60,677)
Proceeds from loan sales 22,587 71,163
Loss (gain) on sale of loans 48 (1,932)
Provision for credit losses 377 (489)
Net amortization of securities 832 1,215
Change in unamortized net loan costs and premiums (1,370) (1,768)
Premises and equipment depreciation 1,067 1,181
Stock-based compensation expense 454 666
Accretion of purchase accounting entries, net   4
Amortization of other intangibles 233 241
Income from cash surrender value of bank-owned life insurance policies (501) (518)
Gain on sales of securities, net (9)  
Increase in right-of-use lease assets 296 282
Decrease in lease liabilities (280) (259)
(Gain) loss on premises and equipment, net (75) 8
Net change in other assets and liabilities (6,469) (3,887)
Net cash provided by operating activities 6,201 14,710
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 7,923  
Proceeds from maturities, calls and prepayments of securities available for sale 19,747 28,687
Purchases of securities available for sale (47,721) (79,583)
Net change in loans (121,365) 11,490
Recoveries of previously charged off loans 178  
Purchase of FHLB stock   (790)
Purchase of premises and equipment, net (602) (982)
Net investment in community limited partnerships   (470)
Net cash (used in) investing activities (141,840) (41,648)
Cash flows from financing activities:    
Net change in deposits (781) 6,127
Net change in short-term senior borrowings   19,653
Repayments of long-term senior borrowings (5) (8)
Net change in short-term other borrowings 141 (3,503)
Net issuance to employee stock plans 547 172
Cash dividends paid on common stock (3,603) (3,284)
Net cash (used in) provided by financing activities (3,701) 19,157
Net change in cash and cash equivalents (139,340) (2,495)
Cash and cash equivalents at beginning of year 250,389 226,007
Cash and cash equivalents at end of period 111,049 223,512
Supplemental cash flow information:    
Interest paid 1,717 6,231
Income taxes paid, net $ 1,073 $ 3,389