XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash Flows from Operating Activities          
Net income     $ 15,812 $ 13,319  
Adjustments to reconcile net income to net cash from operating activities:          
Depreciation     2,073 1,993  
Amortization of premiums on available-for-sale securities, net     1,598 900  
Amortization of servicing rights $ 285 $ 296 1,314 784  
Amortization of core deposit intangible     478 546  
Amortization of customer list intangible     92    
Net amortization (accretion) of fair value adjustments     (170) 382  
Amortization of subordinated note issuance costs     20    
Stock-based compensation expense     609 827  
Director stock award     71 48  
Deferred income taxes       (3)  
Provision for loan loss 659 1,987 3,000 4,986 $ 6,981
Gain on sale of loans held for sale (822) (1,537) (2,823) (2,128)  
Originations of loans held for sale     (86,720) (151,477)  
Proceeds from sale of loans held for sale     93,548 150,130  
(Gain) loss on sale of other assets owned 219 (7) 421 (13)  
Gain on sales of securities available-for-sale     (293) (270)  
Increase in cash surrender value of bank owned life insurance     (475) (266)  
Change in other assets and other liabilities, net     (1,278) (3,265)  
Net cash provided by operating activities     27,277 16,493  
Activity in available-for-sale securities:          
Maturities, prepayments and calls     41,305 67,137  
Sales     9,291 11,843  
Purchases     (146,634) (110,330)  
Activity in other securities, at cost:          
Purchases     (207) (17)  
Proceeds from redemption of FHLB stock     1,522    
Change in interest-bearing time deposits     10,257 (348)  
Proceeds from sale of other assets owned     196 92  
Additions to premises and equipment     (1,418) (2,407)  
Loan originations and principal collections, net     (141,116) (144,978)  
Acquisition of Ossian Financial Services, Inc., net of cash received     228    
Net cash used in investing activities     (226,576) (179,008)  
Cash Flows from Financing Activities          
Net change in deposits     154,042 230,359  
Net change in federal funds purchased and securities sold under agreements to repurchase     (638) (18,214)  
Repayment of FHLB advances     (157) (7,493)  
Purchase of treasury stock     (331) (376)  
Proceeds from issuance of subordinated notes     34,421    
Cash dividends paid on common stock     (5,666) (5,304)  
Net cash provided by financing activities     181,671 198,972  
Net Increase (Decrease) in Cash and Cash Equivalents     (17,628) 36,457  
Cash and Cash Equivalents - Beginning of year     175,706 51,296 51,296
Cash and Cash Equivalents - End of period $ 158,078 $ 87,753 158,078 87,753 $ 175,706
Supplemental cash flow information:          
Interest paid     4,559 7,970  
Income taxes paid     5,100 5,016  
Supplemental noncash disclosures:          
Transfer of loans to other real estate owned     209 71  
Cash dividends declared not paid     2,002 $ 1,882  
Ossian Financial Services, Inc. [Member]          
Supplemental noncash disclosures:          
Fair value of assets acquired     137,058    
Cash paid for the capital stock     20,001    
Liabilities assumed     $ 117,057