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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 23,640 $ 22,042 $ 15,613
Adjustments to reconcile net income to net cash from operating activities:      
Provision for loan losses 250 416 4,000
Depreciation 2,658 2,624 2,721
Amortization 10,684 9,801 4,985
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 958 812 512
Net (gains) losses on sales of securities 809 40 (1,308)
Net change in market value of equity securities 955 (479) 155
Gains on sales of loans and capitalized servicing rights (2,343) (6,776) (11,313)
Loans originated for sale (71,829) (197,387) (326,286)
Proceeds from loan sales 77,681 205,398 325,306
Earnings on bank-owned life insurance (1,038) (778) (772)
Proceeds from BOLI policy 690 204 0
Earnings on death benefit from bank-owned life insurance (274) (31) 0
(Gains) on sales of other real estate owned (41) (19) (64)
Write downs of ORE 0 0 80
Proceeds from sales of other real estate owned 235 611 1,384
Costs capitalized to other real estate 0 0 (19)
Deferred federal income tax expense (15) 924 202
Net change in:      
Other assets (4,208) (5,418) (3,186)
Changes in other liabilities 6,205 5,715 (3,532)
Net cash provided by operating activities 45,017 37,699 8,478
Cash flows from investing activities:      
Sales of securities available for sale 47,167 29,742 121,942
Maturities, prepayments and calls of securities available for sale 51,570 54,202 48,787
Maturities, prepayments and calls of securities held to maturity 8,091 0 0
Purchases of securities available for sale (55,053) (632,826) (375,470)
Purchases of securities held to maturity (7,505) 0 0
Purchases of equity securities (1,029) (5,117) (200)
Purchase of bank-owned life insurance policies 0 (10,000) 0
Loan originations and payments, net (130,620) 45,384 (79,594)
Additions to premises and equipment (1,164) (2,759) (1,852)
Proceeds from (payments for) derivative contracts, net (1,953) 0 0
Net cash (used in)/provided by investing activities (90,496) (521,374) (250,751)
Cash flows from financing activities:      
Net change in deposits 65,709 377,716 292,145
Proceeds from borrowings 726,000 87,500 10,050
Payments on borrowings (726,000) (14,326) (33,921)
Issuance of common stock 172 139 134
Repurchase of common stock (767) (7,786) 0
Cash dividends and fractional shares from merger (7,578) (7,200) (6,174)
Net cash provided by/(used in) financing activities 57,536 436,043 262,234
Net change in cash and cash equivalents 12,057 (47,632) 19,961
Beginning cash and cash equivalents 31,887 79,519 59,558
Beginning cash and cash equivalents 43,943 31,887 79,519
Supplemental disclosures of cash flow information:      
Cash paid for interest 7,577 3,718 4,872
Cash paid for income taxes 1,989 3,251 5,001
Loans transferred to other real estate owned 0 520 372
Community Shores Bank Corporation [Member]      
Cash flows from investing activities:      
Cash received from merger $ 0 $ 0 $ 35,636