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 $ 19,063 $ 23,082
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,402 110
Accretion of certain acquisition-related discounts, net (1,190) (2,401)
Share-based compensation 1,532 1,206
Depreciation and amortization 3,305 3,578
Amortization of premiums and accretion of discounts on securities, net 1,960 2,629
(Reversal of) provision for indemnifications (858) 52
Income from bank-owned life insurance (295) (312)
Pension expense 480 652
Proceeds from sales of loans held for sale 644,514 1,276,899
Origination of loans held for sale (587,245) (1,163,845)
Gains on sales of loans held for sale (6,763) (18,665)
Other gains, net (13) (571)
Change in other assets and liabilities:    
Accrued interest receivable (1,036) 978
Other assets (2,555) 447
Accrued interest payable (244) (528)
Other liabilities (3,032) (3,544)
Net cash provided by operating activities 69,025 119,767
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 43,681 85,293
Purchases of securities available for sale (223,034) (168,040)
Maturities of time deposits, net 494 4,692
Repayments on loans held for investment by non-bank affiliates 136,624 120,088
Purchases of loans held for investment by non-bank affiliates (234,828) (156,677)
Net (increase) decrease in community banking loans held for investment (61,516) 3,330
Purchases of corporate premises and equipment (2,360) (4,377)
Proceeds from sales of other real estate owned 915 457
Changes in collateral posted with other financial institutions, net 3,880 3,960
Other investing activities, net (1,061) 834
Net cash used in investing activities (337,205) (110,440)
Financing activities:    
Net increase in demand and savings deposits 143,467 129,390
Net decrease in time deposits (38,384) (28,269)
Net increase in short-term borrowings 2,898 16,551
Repurchases of common stock (3,539) (7,503)
Cash dividends paid (4,299) (4,261)
Other financing activities, net (260) (409)
Net cash provided by financing activities 99,883 105,499
Net (decrease) increase in cash and cash equivalents (168,297) 114,826
Cash and cash equivalents at beginning of period 267,745 86,669
Cash and cash equivalents at end of period 99,448 201,495
Supplemental cash flow disclosures:    
Interest paid 5,738 7,295
Income taxes paid 6,623 8,429
Supplemental disclosure of noncash investing and financing activities:    
Transfers from corporate premises and equipment to other real estate owned 423  
Liabilities assumed to acquire right of use assets under operating leases 888 1,931
Transfers from loans held for sale to loans held for investment $ 2,971 $ 2,911