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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 $ 21,169 $ 20,704
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 2,109 1,881
Amortization of right-of-use lease asset 313 293
Amortization of deferred loan costs (1,079) (159)
Amortization of intangibles 462 557
Amortization of low income housing partnerships 416 357
Provision for loan losses 6,350 2,100
Net unrealized (gain) loss on equity investment securities 82 (6)
Net (gain) loss on sale of other real estate owned (15) 20
Loans originated for sale (28,655) (11,945)
Proceeds from sale of loans originated for sale 27,949 11,374
Net gain on sale of loans originated for sale (469) (70)
Net amortization of investment securities 825 1,279
Net gain on sale of investment securities available-for-sale (724) (23)
Bank owned life insurance income (572) (567)
Deferred income tax expense 619  
Stock based compensation 383 397
Net change in:    
Accrued interest receivable (1,614) 460
Other assets (34,812) (4,633)
Accrued interest payable 12 266
Other liabilities 10,842 4,998
Net cash provided by operating activities 3,591 27,283
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale 48,206 9,677
Proceeds from repayments of investment securities:    
Available-for-sale 61,463 45,790
Held-to-maturity 336 547
Purchases of investment securities:    
Available-for-sale (18,313) (50,670)
Net redemption of restricted equity securities 4,656 2,992
Net increase in lending activities (252,227) (58,987)
Investment in bank owned life insurance (1,500)  
Purchases of premises and equipment (1,593) (4,296)
Proceeds from the sale of premises and equipment   21
Proceeds from sale of other real estate owned 483 111
Net cash used in investing activities (158,489) (54,815)
Cash flows from financing activities:    
Net increase in deposits 385,395 126,263
Proceeds from long-term debt   16,000
Repayment of long-term debt (12,464) (1,397)
Net decrease in short-term borrowings (102,150) (86,500)
Retirement of common stock (5,905) (621)
Cash dividends paid (7,919) (7,546)
Net cash provided by financing activities 289,957 46,199
Net increase in cash and cash equivalents 135,059 18,667
Cash and cash equivalents at beginning of period 31,153 32,616
Cash and cash equivalents at end of period 166,212 51,283
Cash paid during the period for:    
Interest 7,614 8,842
Income taxes 4,350 3,300
Noncash items:    
Transfers of loans to other real estate 730 253
Initial recognition of right-of-use assets 899 6,523
Initial recognition of lease liability 899 $ 6,523
Paycheck Protection Program Liquidity Facility    
Cash flows from financing activities:    
Proceeds from long-term debt 103,650  
Repayment of long-term debt (103,650)  
Subordinated Debentures    
Cash flows from financing activities:    
Proceeds from long-term debt $ 33,000