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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income $ 27,206 $ 21,249
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 973 1,063
Provision for credit losses 5,645 2,843
Amortization of premiums and discounts on securities 278 657
Gain on sales of loans (172) (395)
Net loss on sale of available-for-sale debt securities 15 127
Stock-based compensation expense 1,692 1,059
Gain on sale of premises and equipment (77) (24)
Cash receipts from the sale of loans originated for sale 5,985 25,542
Cash disbursements for loans originated for sale (6,956) (24,887)
Deferred income tax benefit (1,633) (236)
Changes in    
Interest receivable and other assets (1,392) 810
Interest payable and other liabilities 1,403 2,127
Net cash provided by operating activities 32,967 29,935
Investing Activities    
Maturities of interest-bearing time deposits in other banks 5,228 2,490
Purchases of interest-bearing time deposits in other banks (16,936) (747)
Proceeds from sale of available-for-sale debt securities 0 11,820
Maturities, prepayments and calls of available-for-sale debt securities 6,029 17,032
Purchases of available-for-sale debt securities 0 (133,052)
Net change in loans (122,242) (204,756)
Purchases of premises and equipment (2,602) (273)
Proceeds from sale of premises and equipment 78 3,370
Change in nonmarketable equity securities (42) 9
Net cash used in investing activities (130,487) (304,107)
Financing Activities    
Net change in deposits 162,172 219,865
Cash distributions (4,391) (3,275)
Shares purchased and retired for restricted stock units (367) (312)
Net settlement of stock options 480 283
Common stock issued for restricted stock units 1 0
Net cash provided by financing activities 157,895 216,561
Net Increase/(Decrease) in Cash and Due from Banks 60,375 (57,611)
Cash and Due from Banks, Beginning of Period 109,115 204,852
Cash and Due from Banks, End of Period 169,490 147,241
Supplemental Disclosure of Cash Flows Information    
Interest paid 26,899 4,220
Income taxes paid 10,612 6,843
Dividends declared and not paid 1,929 1,092
Measurement period goodwill adjustment $ (146) $ (411)