XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 5,462 $ 17,221
Adjustments to reconcile net income to net cash from operating activities:    
Net amortization and accretion of investments 1,320 1,909
Net amortization of deferred loan costs 1,269 1,322
Provision (release of allowance) for loan losses 6,380 (922)
Depreciation and amortization 1,780 2,018
Stock-based compensation 1,431 1,284
Stock-based compensation related to equity method investment 277 0
Loans originated for sale (28,308) (21,867)
Proceeds of loans sold 45,361 13,693
Holding (gain) loss on equity securities 85 (1,214)
Gain on sale of available-for-sale securities, net (650) (2,851)
Gain on sale of equity securities, net (100) (5)
Gain on sale of loans (2,488) (2,217)
Gain on sale of other real estate owned (2) 0
Income on bank-owned life insurance (487) (500)
Deferred income taxes 12 (1,718)
Equity method investment income (1,687) (10,997)
Equity method investment gain (1,874) 0
Return on equity method investment 3,775 22,720
Other assets (19,913) 5,321
Other liabilities (22,188) (18,402)
Net cash from operating activities (10,545) 4,795
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (67,867) (144,633)
Maturities/paydowns of available-for-sale investment securities 14,874 24,236
Sales of available-for-sale investment securities 60,635 75,316
Purchases of premises and equipment (2,109) (2,457)
Net increase in loans (374,878) (288,169)
Purchases of restricted bank stock (2,962) (1,044)
Redemptions of restricted bank stock 2,325 0
Proceeds from maturities of certificates of deposit with banks 2,223 0
Proceeds from sale of other real estate owned 1,004 267
Purchase of equity securities (2,859) (3,222)
Sales of equity securities 1,100 61
Cash paid for acquisitions, net of cash acquired 0 (772)
Net cash from investing activities (368,514) (340,417)
FINANCING ACTIVITIES    
Net increase in deposits 237,365 412,486
Net change in repurchase agreements (233) 1,095
Net change in FHLB and other borrowings 0 100
Preferred stock redemption 0 (7,334)
Common stock options exercised 1,117 2,297
Withholding cash issued in lieu of restricted stock (691) (231)
Cash dividends paid on common stock (4,135) (2,558)
Cash dividends paid on preferred stock 0 (35)
Stock purchase from noncontrolling interest (40) 0
Net cash from financing activities 233,383 405,820
Net change in cash and cash equivalents (145,676) 70,198
Cash and cash equivalents, beginning of period 307,437 263,893
Cash and cash equivalents, end of period 161,761 334,091
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 3,450 3,389
Income taxes 316 7,942
Business combination non-cash disclosures:    
Assets acquired in business combination, net of cash acquired 0 739
Liabilities assumed in business combination 0 605
Supplemental disclosure of cash flow information:    
Fair value of noncontrolling interests at acquisition date 0 900
Loans transferred to other real estate owned 0 116
Change in unrealized holding losses on securities available-for-sale 36,355 5,625
Restricted stock units vested 73 69
Employee stock-based compensation tax withholding obligations (17) 0
Common stock issued related to acquisitions $ 0 $ 600