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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 17,058 $ 16,713
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 0 1,250
Depreciation and amortization 656 660
Net amortization of securities premiums and discounts 176 407
Increase in cash surrender value of BOLI (542) (527)
(Increase)/decrease in deferred income taxes, net (113) 4,714
Gains on sale of securities available for sale 0 (1,840)
Net changes in:    
Other assets 4,709 6,258
Other liabilities 6,966 1,386
Net cash provided by operating activities 28,910 29,021
Cash flows from investing activities:    
Net change in loans held for investment (374) (11,340)
Purchase of available for sale securities (10,067) (199,440)
Purchase of held to maturity securities (118,162) (3,211)
Maturities/sales of available for sale securities 13,097 110,388
Maturities of held to maturity securities 19,516 3,930
Purchase of premises and equipment (363) (100)
Purchase of other investments 0 (632)
Proceeds from sale of assets 34 0
Net cash used in investing activities (96,319) (100,405)
Cash flows from financing activities:    
Net increase in deposits 197,287 180,947
Net cash used in share repurchase program (4,252) 0
Cash dividends returned 0 7
Net provided by financing activities 193,035 180,954
Net change in cash and cash equivalents 125,626 109,570
Cash and cash equivalents, beginning of period 715,460 383,837
Cash and cash equivalents, end of period 841,086 493,407
Supplemental disclosures of cash flow information:    
Cash paid for interest 951 1,943
Supplemental disclosures of non-cash transactions:    
Investment securities available for sale transferred to held to maturity 0 316,925
Security purchases settled in subsequent period (40,626) 0
Unrealized losses on securities available for sale $ (15,865) $ (20,406)