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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities          
Net earnings $ 9,253 $ 10,134 $ 30,647 $ 17,487  
Adjustments to reconcile net earnings to net cash provided by operating activities:          
Depreciation     3,294 3,045  
Amortization     932 1,010  
Deferred taxes     (181) (2,949)  
Premium amortization, net of discount accretion     3,291 2,948  
Gain on sale of loans (1,759) (2,114) (4,401) (4,811)  
Provision for credit losses (700) (300) (1,700) 13,200  
Origination of loans held for sale     (84,944) (121,628)  
Proceeds from loans held for sale     92,984 119,659  
Write-down of other real estate and repossessed assets     6 358  
Net gain on sale of premises, equipment, other real estate owned and other assets     16 103  
Stock based compensation     512 494  
Net change in accrued interest receivable and other assets     (5,034) (2,607)  
Net change in accrued interest payable and other liabilities     1,799 1,897  
Net cash provided by operating activities     37,221 28,206  
Securities available for sale:          
Purchases     (125,826) (333,838)  
Proceeds from maturities and principal repayments     63,264 342,452  
Securities held to maturity:          
Purchases     (7,797)    
Proceeds from maturities and principal repayments     938 3,024  
Net originations of loans     (105,333) (248,409)  
Purchases of premises and equipment     (1,912) (5,148)  
Proceeds from BOLI death benefit     464 0  
Proceeds from sale of premises, equipment, other real estate owned and other assets     319 509  
Net cash used in investing activities     (175,883) (241,410)  
Cash flows from financing activities          
Net change in deposits     276,681 266,278  
Net change in securities sold under agreements to repurchase     (4,436) 9,420  
Proceeds from FHLB advances     120,000 290,000  
Repayment of FHLB advances     (181,601) (246,013)  
Proceeds from line of credit     8,000 25,000  
Repayment of line of credit     (17,000) (18,000)  
Proceeds from issuance of debentures     0 10,000  
Repayments of debentures     0 (500)  
Purchase of treasury stock     0 (14,110)  
Exercise of stock options     1,113 72  
Cash dividends     (7,011) (6,286)  
Net cash provided by financing activities     195,746 315,861  
Net change in cash and cash equivalents     57,084 102,657  
Cash and cash equivalents at beginning of period     351,791 90,714 $ 90,714
Cash and cash equivalents at end of period 408,875 193,371 408,875 193,371 $ 351,791
Supplemental disclosures of cash flow information          
Interest paid     5,743 11,456  
Income taxes paid     7,850 5,545  
Supplemental schedule of noncash investing and financing activities          
Cash dividends accrued $ 2,416 $ 2,201 2,416 2,201  
Held to maturity securities transferred to available for sale     0 152,486  
Available for sale securities transferred to held to maturity     172,292 0  
Transfer of loans to other real estate owned and repossessed assets     502 221  
Stock dividend     $ 35,947