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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 20,017 $ 12,479
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of discounts and premiums on securities 1,969 1,453
Gain on sale of securities available-for-sale   (270)
Gain on sale of SBA loans (633) (67)
Proceeds from sale of SBA loans originated for sale 6,676 916
SBA loans originated for sale (8,688) (4,121)
Provision for (recapture of) credit losses on loans (2,005) 14,384
Increase in cash surrender value of life insurance (914) (916)
Depreciation and amortization 508 475
Amortization of other intangible assets 1,487 1,822
Stock option expense, net 278 287
Amortization of restricted stock awards, net 896 811
Amortization of subordinated debt issuance costs 92 92
Gain on proceeds from company-owned life insurance (462)  
Effect of changes in:    
Accrued interest receivable and other assets (1,574) (23,437)
Accrued interest payable and other liabilities 3,472 21,963
Net cash provided by operating activities 21,119 25,871
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of securities held-to-maturity (181,805)  
Maturities/paydowns/calls of securities available-for-sale 87,503 30,810
Maturities/paydowns/calls of securities held-to-maturity 56,797 42,408
Proceeds from sales of securities available-for-sale   56,598
Purchase of mortgage loans (140,030)  
Net change in loans (63,944) (152,881)
Changes in Federal Home Loan Bank stock and other investments 1,027 (3,667)
Purchase of premises and equipment (89) (1,725)
Proceeds from redemption of company-owned life insurance 1,506  
Net cash (used in) investing activities (239,035) (28,457)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net change in deposits 429,986 485,458
Net change in short-term borrowings   (328)
Exercise of stock options 784 1,490
Payment of cash dividends (15,605) (15,504)
Net cash provided by financing activities 415,165 471,116
Net increase in cash and cash equivalents 197,249 468,530
Cash and cash equivalents, beginning of period 1,131,073 457,370
Cash and cash equivalents, end of period 1,328,322 925,900
Supplemental disclosures of cash flow information:    
Interest paid 3,464 4,584
Income taxes paid (refunds), net $ 9,192 $ (524)