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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 15,210 $ 20,689
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for (reversal of) credit losses 2,880 (2,200)
Depreciation and other amortization 1,341 1,092
Accretion and amortization of securities discounts and premium, net 399 518
Loss on sale of real estate owned 380
(Gain) Loss on sale of fixed assets 394 (10)
Gain on sale of securities (12)
Net change in operating leases 172 165
Compensation expense related to stock options and restricted stock grants 987 778
Gain on sale of loans held for sale (1,446) (8,153)
Loans originated and held for sale (145,513) (303,889)
Proceeds from sale of loans held for sale 142,185 335,872
Increase in cash surrender value of bank owned life insurance (630) (598)
Decrease in deferred tax asset (3,446) (15,341)
Increase in other assets 452 2,589
Increase in other liabilities 1,400 1,949
Net cash provided by operating activities 14,373 33,841
Increase (decrease) in cash realized from:    
Increase in loans, net (355,594) (111,672)
Purchase of property and equipment (8,989) (11,105)
Purchase of investment securities:    
Available for sale (10,094) (10,338)
Other investments (11,078) (1,000)
Payments and maturities, calls and repayments of investment securities:    
Available for sale 19,095 12,526
Other investments 10,034 1,865
Purchase of bank owned life insurance (7,500)
Proceeds from sale of fixed assets 95 50
Proceeds from sale of other real estate owned 788
Net cash used for investing activities (356,531) (126,386)
Increase (decrease) in cash realized from:    
Increase in deposits, net 306,332 168,134
Increase (decrease) in Federal Home Loan Bank advances and other borrowings, net 50,000 (25,000)
Proceeds from the exercise of stock options 707 2,521
Net cash provided by financing activities 357,039 145,655
Net increase in cash and cash equivalents 14,881 53,110
Cash and cash equivalents at beginning of the period 167,209 100,687
Cash and cash equivalents at end of the period 182,090 153,797
Cash paid for    
Interest 3,745 3,843
Income taxes 5,950 15,342
Schedule of non-cash transactions    
Foreclosure of other real estate 366
Unrealized loss on securities, net of income taxes $ (11,902) $ (623)