XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 8,017 $ 28,895
Adjustments to reconcile net income to net cash from operating activities:    
Net amortization and accretion of investments 2,020 3,011
Net amortization of deferred loan costs 1,877 2,062
Provision (release of allowance) for loan losses 11,500 (542)
Depreciation and amortization 3,241 2,800
Stock-based compensation 2,102 2,339
Stock-based compensation related to equity method investment 416 0
Loans originated for sale (69,907) (23,950)
Proceeds of loans sold 58,933 17,871
Holding (gain) loss on equity securities 146 (1,750)
Gain on sale of available-for-sale securities, net (650) (3,380)
(Gain) loss on sale of equity securities, net 56 (5)
Gain on sale of loans (3,786) (3,125)
Gains on acquisition and divestiture activity 0 (10,783)
Gain on sale of other real estate owned (38) (116)
Income on bank-owned life insurance (735) (749)
Deferred income taxes 16 (1,186)
Equity method investment income (666) (14,570)
Equity method investment gain (1,874) 0
Return on equity method investment 4,682 29,795
Other assets 401 (503)
Other liabilities (11,970) (14,327)
Net cash from operating activities 3,781 11,787
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (77,464) (176,468)
Maturities/paydowns of available-for-sale investment securities 18,751 38,846
Sales of available-for-sale investment securities 60,635 103,365
Purchases of premises and equipment (2,730) (3,589)
Net increase in loans (611,972) (356,623)
Purchases of restricted bank stock (38,779) (1,410)
Redemptions of restricted bank stock 31,924 2,821
Proceeds from maturities of certificates of deposit with banks 2,719 2,221
Proceeds from sale of other real estate owned 1,256 2,761
Purchase of equity securities (2,972) (3,472)
Sales of equity securities 1,261 61
Net cash transferred for banking center sale 0 (95,697)
Cash paid for acquisitions, net of cash acquired 0 (772)
Net cash from investing activities (617,371) (487,956)
FINANCING ACTIVITIES    
Net increase in deposits 319,353 579,875
Net change in repurchase agreements (1,475) 873
Net change in FHLB and other borrowings 73,328 0
Issuance of subordinated debt 0 30,000
Payment of subordinated debt issuance costs 0 (441)
Preferred stock redemption 0 (7,334)
Common stock options exercised 1,835 3,405
Withholding cash issued in lieu of restricted stock (691) (256)
Cash dividends paid on common stock (6,211) (4,230)
Cash dividends paid on preferred stock 0 (35)
Issuance of subsidiary membership units 0 500
Stock purchase from noncontrolling interest (40) 0
Net cash from financing activities 386,099 602,357
Net change in cash and cash equivalents (227,491) 126,188
Cash and cash equivalents, beginning of period 307,437 263,893
Cash and cash equivalents, end of period 79,946 390,081
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 6,299 4,488
Income taxes 418 9,600
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 1,400
Loans transferred to other real estate owned 70 357
Change in unrealized holding losses on securities available-for-sale 51,242 0
Restricted stock units vested 75 70
Employee stock-based compensation tax withholding obligations (17) 4,155
Common stock issued related to acquisitions $ 0 $ 708