XML 23 R13.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income $ 35,636,000 $ 18,362,000
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 6,649,000 5,699,000
Increase in cash surrender value of bank-owned life insurance (708,000) (712,000)
Provision for loan losses 1,268,000 6,461,000
Share-based compensation expense 1,830,000 1,600,000
Write-down of other real estate owned 0 2,065,000
Loss on sale of available-for-sale securities 0 (139,000)
Loans originated for sale (645,620,000) (431,384,000)
Proceeds from sale of loans 662,390,000 429,284,000
Gain on loans sold (23,522,000) (19,544,000)
Decrease in fair value of loans held-for-sale 854,000 116,000
Loss on derivatives 1,870,000 (1,974,000)
Settlement of derivatives (1,859,000) (46,109,000)
Loan servicing asset revaluation 669,000 (337,000)
Net change in accrued income and other assets 3,114,000 491,000
Net change in accrued expenses and other liabilities 372,000 1,098,000
Net cash provided by (used in) operating activities 42,943,000 (35,023,000)
Investing Activities    
Net loan activity, excluding purchases 156,670,000 2,284,000
Maturities and calls of securities available-for-sale 129,183,000 142,432,000
Proceeds from sale of securities available-for-sale 0 893,000
Purchase of securities available-for-sale (272,845,000) (119,263,000)
Maturities and calls of securities held-to-maturity 6,000,000 0
Purchase of securities held-to-maturity 0 (2,000,000)
Net proceeds from sale of premises and equipment 8,116,000 0
Purchase of premises and equipment (22,467,000) (18,571,000)
Loans purchased (37,527,000) (260,841,000)
Net proceeds from sale of portfolio loans 0 234,619,000
Other investing activities 2,264,000 0
Net cash used in investing activities (30,606,000) (20,447,000)
Financing Activities    
Net (decrease) increase in deposits (46,290,000) 218,428,000
Cash dividends paid (1,802,000) (1,773,000)
Repayment of subordinated debt (35,000,000) 0
Net proceeds from issuance of subordinated debt 58,658,000 0
Proceeds from advances from Federal Home Loan Bank 110,000,000 330,000,000
Repayment of advances from Federal Home Loan Bank (110,000,000) (330,000,000)
Other, net (194,000) (93,000)
Net cash (used in) provided by financing activities (24,628,000) 216,562,000
Net (Decrease) Increase in Cash and Cash Equivalents (12,291,000) 161,092,000
Cash and Cash Equivalents, Beginning of Period 419,806,000 327,361,000
Cash and Cash Equivalents, End of Period 407,515,000 488,453,000
Supplemental Disclosures    
Cash paid during the period for interest 36,511,000 60,058,000
Income Taxes Paid, Net 4,995,000 2,516,000
Loans transferred to other real estate owned 1,188,000 0
Loans transferred to held-for-sale from portfolio 0 185,797,000
Cash dividends declared, paid in subsequent period 591,000 588,000
Securities purchased during the period, settled in subsequent period 0 5,547,000
Transfer of available-for-sale municipal securities to held-to-maturity municipal securities $ 0 $ 4,479,000