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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 13,112 $ 8,029
Adjustments to reconcile net income to net cash provided by operating activities:    
Net accretion of acquisition accounting estimates (816) (142)
Provision for credit losses 800 1,075
Depreciation and amortization 2,901 1,277
Net amortization of securities 781 687
Amortization of debt issuance costs 61 61
(Gain) on mortgage banking activities (1,878)  
Proceeds from sale of mortgage loans held for sale 104,005  
Originations of loans held for sale (72,301)  
Stock-based compensation expense 302 196
Deferred income tax expense (benefit) 81 (578)
(Gains) on valuation adjustments on mortgage servicing rights (478)  
Losses on sales and valuation adjustments on other real estate owned 44 2
Fair value adjustment on equity securities 108 20
Bank owned life insurance income (410) (545)
Net changes in:    
Accrued interest receivable (368) 1,229
Other assets 304 (1,127)
Accrued interest payable 5 (90)
Other liabilities (3,202) 446
Net cash provided by operating activities 43,051 10,540
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of investment securities available for sale 12,778 23,862
Proceeds from maturities and principal payments of investment securities held to maturity 23,613 3,037
Purchases of securities held to maturity (78,468) (136,422)
Purchases of equity securities (7) (10)
Purchases of restricted securities (5,735)  
Net redemption of restricted securities   437
Net change in loans (143,947) (18,156)
Purchases of premises and equipment (1,720) (1,048)
Proceeds from sales of other real estate owned 394  
Improvements to other real estate owned (34)  
Purchases of bank owned life insurance (10,092) (10,109)
Net cash (used in) investing activities (203,218) (138,409)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Noninterest-bearing deposits (38,375) 28,918
Interest-bearing deposits 26,704 151,004
Short-term borrowings (4,143) 1,857
Common stock dividends paid (4,762) (2,820)
Retirement of common stock   (819)
Issuance of common stock 139  
Net cash (used in) provided by financing activities (20,437) 178,140
Net (decrease) increase in cash and cash equivalents (180,604) 50,271
Cash and cash equivalents at beginning of period 583,613 186,917
Cash and cash equivalents at end of period 403,009 237,188
Supplemental cash flows information:    
Interest paid 4,101 3,046
Income taxes paid 2,261 2,441
Lease liabilities arising from right-of-use assets (678) 1,132
Transfers from loans to other real estate owned 69 205
Unrealized (loss) on securities available for sale $ (9,226) $ (1,269)