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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 29,123 $ 22,424 $ 18,850
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for loan losses 575 11,080 8,515
Accretion of certain acquisition-related discounts, net (2,727) (3,707) (2,871)
Share-based compensation 1,697 1,447 1,466
Depreciation and amortization 4,741 4,189 3,866
Accretion of discounts and amortization of premiums on securities, net 3,550 2,271 1,534
Deferred income taxes (90) (817) 354
Provision for indemnifications (104) 881  
Income from bank-owned life insurance (526) (506) (711)
Gains on sales of loans held for investment   (3,489)  
Early debt repayment charges   2,197  
Pension expense 2,131 793 649
Pension contribution   (2,000)  
Proceeds from sales of loans held for sale 1,613,467 1,668,113 903,968
Origination of loans held for sale (1,467,675) (1,765,449) (941,001)
Gains on sales of loans held for sale (22,279) (25,735) (10,603)
Other (gains) losses, net (591) 624 (28)
Change in other assets and liabilities:      
Accrued interest receivable 1,293 (897) 660
Other assets 1,283 6,882 137
Accrued interest payable (394) (442) 371
Other liabilities (6,087) 1,767 212
Net cash provided by (used in) operating activities 157,387 (80,374) (14,632)
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 114,019 123,741 75,583
Purchases of securities available for sale (209,224) (201,870) (48,216)
Maturities (purchases) of time deposits, net 5,930 (5,478)  
Repayments on loans held for investment by non-bank affiliates 161,299 129,011 123,140
Purchases of loans held for investment by non-bank affiliates (216,681) (132,897) (149,377)
Proceeds from sales of loans held for investment   3,366  
Net decrease (increase) in community banking loans held for investment 3,424 (110,862) (31,886)
Proceeds from bank-owned life insurance 173   785
Purchases of corporate premises and equipment (4,786) (10,228) (2,706)
Changes in collateral posted with other financial institutions, net 6,040 (7,400) (2,490)
Other investing activities, net 1,113 2,226 (762)
Net cash used in investing activities (138,693) (183,286) (35,929)
Financing activities:      
Net increase in demand and savings deposits 206,303 318,598 34,093
Net (decrease) increase in time deposits (43,583) (29,212) 75,496
Net increase in short-term borrowings 14,280 4,095 1,444
Proceeds from long-term borrowings   19,924 7,000
Repayments of long-term borrowings   (121,726) (7,000)
Repurchases of common stock (8,232) (1,061) (4,917)
Cash dividends paid (5,675) (5,546) (5,131)
Other financing activities, net (711) (176) (4)
Net cash provided by financing activities 162,382 184,896 100,981
Net increase (decrease) in cash and cash equivalents 181,076 (78,764) 50,420
Cash and cash equivalents at beginning of period 86,669 165,433 115,013
Supplemental cash flow disclosures:      
Interest paid 9,076 14,168 14,150
Income taxes paid $ 10,545 6,410 2,296
Supplemental disclosure of noncash investing and financing activities:      
Transfers from loans to other real estate owned   $ 63 496
Transfers from corporate premises and equipment to other real estate owned     $ 835