XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 20,336 $ 18,475
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,506 4,918
Accretion of fair value purchase accounting adjustments, net   (552)
Amortization of intangible assets 1,334 1,270
Provision for Loan and Lease Losses   2,256
Provision for credit losses, post ASU 2019-04 663  
Stock compensation expense 904 710
Deferred income tax expense 1,739 328
Increase in cash surrender value of bank owned life insurance (949) (918)
Net losses from sale and write-downs of other real estate owned   59
Net gains from mortgage banking (504) (1,305)
Origination of loans held for sale (18,990) (42,712)
Proceeds from sales of loans held for sale 20,259 47,413
Net (gain) loss from sale of fixed assets 66 (253)
Net change in:    
Accrued interest receivable (1,393) (1,597)
Accrued interest payable 1,300 (224)
Other assets (5,516) (13,351)
Other liabilities (3,426) 13,890
Net cash provided by operating activities 21,329 28,407
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns 20,491 21,247
Purchases (78,096) (266,872)
Proceeds from maturities, calls and paydowns 1,293 634
Purchases   (50,575)
Proceeds from sales of other investments 2,053  
Purchases of other investments (919) (75)
Net increase in loans and leases (84,897) (299,793)
Proceeds from sale of fixed assets 623 1,278
Purchases of premises and equipment (3,059) (7,358)
Proceeds from sale of other real estate owned   108
Net cash used by investing activities (142,511) (601,406)
Cash flows from financing activities:    
Net increase in deposits 122,566 260,000
Net increase (decrease) in securities sold under agreements to repurchase 221 (36)
Proceeds from borrowings 26,000  
Repayment of borrowings (52,585) (75,000)
Cash dividends paid (2,711) (2,360)
Issuance of common stock, net of restricted shares withheld for taxes 165 263
Net cash provided by financing activities 93,656 182,867
Net change in cash and cash equivalents (27,526) (390,132)
Cash and cash equivalents, beginning of period 266,424 1,045,077
Cash and cash equivalents, end of period 238,898 654,945
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 36,417 6,267
Net cash paid during the period for income taxes 8,577 3,640
Noncash investing and financing activities:    
Recognition of operating lease assets in exchange for lease liabilities 1,751 53
Acquisition of real estate through foreclosure $ 272  
Transfer of securities from available-for-sale to held-to-maturity   $ 162,378