XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 23,082 $ 14,300
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan losses 110 9,550
Accretion of certain acquisition-related discounts, net (2,401) (2,631)
Share-based compensation 1,206 1,012
Depreciation and amortization 3,578 3,028
Accretion of discounts and amortization of premiums on securities, net 2,629 1,564
Income from bank-owned life insurance (312) (320)
Pension expense 652 593
Proceeds from sales of loans held for sale 1,276,899 1,070,338
Origination of loans held for sale (1,163,845) (1,226,538)
Gains on sales of loans held for sale (18,665) (17,987)
Other (gains) losses, net (519) 862
Change in other assets and liabilities:    
Accrued interest receivable 978 (623)
Other assets 447 5,934
Accrued interest payable (528) (460)
Other liabilities (3,544) 4,056
Net cash provided by (used in) operating activities 119,767 (137,322)
Investing activities:    
Acquisition of Peoples Bankshares, Incorporated   19,101
Disposition of assets related to business combination   8,004
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 85,293 101,068
Purchases of securities available for sale (168,040) (164,094)
Maturities (purchases) of time deposits, net 4,692 (6,466)
Repayments on loans held for investment by non-bank affiliates 120,088 96,460
Purchases of loans held for investment by non-bank affiliates (156,677) (98,760)
Net decrease (increase) in community banking loans held for investment 3,330 (118,640)
Purchases of corporate premises and equipment (4,377) (7,655)
Proceeds from sales of other real estate owned 457  
Changes in collateral posted with other financial institutions, net 3,960 (9,340)
Other investing activities, net 834 310
Net cash used in investing activities (110,440) (180,012)
Financing activities:    
Net increase in demand and savings deposits 129,390 220,379
Net decrease in time deposits (28,269) (19,723)
Net increase in short-term borrowings 16,551 44,121
Proceeds from long-term borrowings   20,000
Repayments of long-term borrowings   (82,553)
Repurchases of common stock (7,503) (355)
Cash dividends paid (4,261) (4,160)
Other financing activities, net (409) (35)
Net cash provided by financing activities 105,499 177,674
Net increase (decrease) in cash and cash equivalents 114,826 (139,660)
Cash and cash equivalents at beginning of period 86,669 165,433
Cash and cash equivalents at end of period 201,495 25,773
Supplemental cash flow disclosures:    
Interest paid 7,295 11,195
Income taxes paid 8,429 3,847
Supplemental disclosure of noncash investing and financing activities:    
Liabilities assumed to acquire right of use assets under operating leases 1,931 842
Liabilities assumed to acquire right of use assets under finance leases   6,359
Transfers from loans held for sale to loans held for investment $ 2,911 $ 1,810