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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 10,807 $ 10,345
Adjustments reconciling net income to net cash provided by operating activities:    
Provision for credit losses 1,650 1,100
Depreciation, amortization, and accretion 4,230 4,512
Equity method investment loss (117) (95)
Share-based compensation expense 798 862
Net change in servicing asset (743) (373)
Loss on sales of securities, available-for-sale 980 0
Gain on sales of SBA loans (4,393) (2,162)
Gain on sales of other real estate owned (174) (13)
Writedown of bank building 197 0
Gain on sales of premises & equipment (10) (107)
Originations of loans held for sale (140,472) (134,992)
Proceeds from sales of loans held for sale 132,691 126,629
Change in bank-owned life insurance (948) (702)
Deferred tax benefit 400 (544)
Change in other assets 1,442 (279)
Change in other liabilities (189) 2,483
Net cash provided by operating activities 6,149 6,664
Investing Activities    
Purchases of investment securities, available-for-sale (23,217) (3,914)
Proceeds from maturities, calls, and paydowns of investment securities, available-for-sale 34,221 15,925
Proceeds from sales of investment securities, available-for-sale 17,750 0
Proceeds from maturities, calls and paydowns of securities, held-to-maturity 7,150 13,359
Change in loans, net 16,105 (102,403)
Purchase of premises and equipment (231) (2,073)
Proceeds from sales of premises and equipment 10 125
Proceeds from sales of other real estate owned 870 215
Proceeds from bank-owned life insurance 700 0
Redemption of other investments 0 800
Redemption (purchase) of Federal Home Loan Bank Stock (1,506) (1,395)
Net cash provided by (used in) investing activities 51,852 (79,361)
Financing Activities    
Change in noninterest-bearing customer deposits (61,369) (28,051)
Change in interest-bearing customer deposits (23,196) 164,265
Dividends paid for common stock (3,951) (3,863)
Repayments on Federal Home Loan Bank Advances (140,000) (575,000)
Proceeds from Federal Home Loan Bank Advances 170,000 605,000
Repayments on other borrowings (20,000) (15,000)
Proceeds from other borrowings 20,000 0
Redemption of subordinated debt (500) 0
Repurchase of shares (239) (406)
Tax withholding related to vesting of restricted stock (66) (78)
Net cash provided by (used in) financing activities (59,321) 146,867
Net increase in cash and cash equivalents (1,320) 74,170
Cash and cash equivalents at beginning of period 83,322 80,678
Cash and cash equivalents at end of period 82,002 154,848
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 30,019 17,954
Cash paid during the period for income taxes $ 2,911 $ 1,930