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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 15,302 $ 19,815
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,437 3,296
Accretion of fair value purchase accounting adjustments, net (3,689) (4,337)
Provision for loan losses 8,683 1,914
Stock compensation expense 365 432
Gain from redemption and sale of securities available-for-sale (6) (34)
Deferred income tax expense (37) 1,178
Increase in cash surrender value of bank owned life insurance (526) (415)
Loss on disposal of fixed assets 0 14
Net (gains) losses from sale of other real estate owned 142 (43)
Net gains from sale of loans (2,544) (1,192)
Origination of loans held for sale (99,223) (49,333)
Proceeds from sales of loans held for sale 96,330 49,435
Net change in:    
Accrued interest receivable (3,221) (207)
Accrued interest payable 807 900
Other assets 1,850 (330)
Other liabilities 3,556 5,029
Net cash provided by operating activities 22,226 26,122
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 11,759 16,515
Proceeds from maturities and calls of securities available-for-sale 45,800 15,555
Proceeds from paydowns of securities available-for-sale 18,622 10,166
Purchases of securities available-for-sale (81,893) (6,074)
Purchases of other investments (1,223) (1,414)
Net increase in loans (316,075) (85,424)
Purchases of premises and equipment (4,450) (4,506)
Proceeds from sale of other real estate owned 875 1,395
Net cash and cash equivalents received from business combination 46,132 0
Net cash used in investing activities (280,453) (53,787)
Cash flows from financing activities:    
Net increase in deposits 332,319 75,634
Net increase (decrease) in securities sold under agreements to repurchase 9 (7,388)
Proceeds from borrowings 338,340 145,176
Repayment borrowings (50,581) (130,959)
Cash dividends paid (2,223) 0
Issuance of common stock 282 314
Purchase of common stock (2,075) 0
Net cash provided by financing activities 616,071 82,777
Net change in cash and cash equivalents 357,844 55,112
Cash and cash equivalents, beginning of period 183,971 115,822
Cash and cash equivalents, end of period 541,815 170,934
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 12,633 17,751
Cash paid during the period for income taxes 5,778 3,635
Noncash investing and financing activities:    
Acquisition of real estate through foreclosure 971 417
Change in goodwill due to acquisitions 9,316 (473)
Initial recognition of operating lease right-of-use assets 484 2,344
Initial recognition of operating lease liabilities $ 484 $ 2,344