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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 34,706 $ 9,727
Adjustments to reconcile net income to cash provided by (used for) operating activities:    
Provision for (reversal of) loan losses (8,200) 27,300
Depreciation and other amortization 1,621 1,569
Accretion and amortization of securities discounts and premium, net 713 497
Loss on sale of real estate owned 376 513
Gain on sale of fixed assets (10)
Net change in operating leases 266 157
Compensation expense related to stock options and restricted stock grants 1,204 1,036
Gain on sale of loans held for sale (11,187) (14,377)
Loans originated and held for sale (406,451) (412,069)
Proceeds from sale of loans held for sale 446,254 389,669
Increase in cash surrender value of bank owned life insurance (919) (810)
Increase in deferred tax asset (6,736) (2,545)
Decrease (increase) in other assets 2,698 (7,345)
Increase (decrease) in other liabilities (4,531) 3,419
Net cash provided by (used for) operating activities 49,804 (3,259)
Increase (decrease) in cash realized from:    
Increase in loans, net (246,421) (138,935)
Purchase of property and equipment (16,620) (3,696)
Purchase of investment securities:    
Available for sale (37,908) (36,609)
Other investments (1,000) (1,275)
Payments and maturities, calls and repayments of investment securities:    
Available for sale 16,514 17,290
Other investments 1,812 5,634
Purchase of bank owned life insurance (7,500)
Proceeds from sale of fixed assets 50
Proceeds from sale of other real estate owned 1,159
Net cash used for investing activities (289,914) (157,591)
Increase (decrease) in cash realized from:    
Increase in deposits, net 290,260 304,932
Decrease in Federal Home Loan Bank advances and other borrowings, net (25,000) (109,946)
Proceeds from the exercise of stock options 2,696 963
Net cash provided by financing activities 267,956 195,949
Net increase in cash and cash equivalents 27,846 35,099
Cash and cash equivalents at beginning of the period 100,687 127,816
Cash and cash equivalents at end of the period 128,533 162,915
Cash paid for    
Interest 5,404 14,031
Income taxes 18,357 2,544
Schedule of non-cash transactions    
Foreclosure of other real estate 367
Unrealized gain (loss) on securities, net of income taxes (1,271) 1,163
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases $ 4,803 $ 2,115