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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net income $ 37,517 $ 32,888 $ 20,691
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Gain on sale of securities, net (67) (98) (23)
Loss on sale of premises and equipment 0 22 0
Depreciation and amortization of premises 3,276 3,147 2,986
Amortization of software 1,161 1,104 1,019
Intangible asset amortization 37 48 60
Amortization of investment security premium, net of discount accretion 529 19 (15)
Unrealized loss (gain) on marketable equity securities 101 (61) (911)
Deferred tax (income) expense (1,298) 555 711
Stock-based compensation 1,073 943 832
Deferral of loan fees and amortization, net of costs (192) 6,650 598
(Benefit) provision for credit losses (4,099) 2,432 (1,175)
Benefit for purchased receivables 0 (21) (96)
Additions to home mortgage servicing rights carried at fair value (6,088) (4,824) (3,707)
Change in fair value of home mortgage servicing rights carried at fair value 3,582 5,526 2,608
Change in fair value of commercial servicing rights carried at fair value 437 99 (6)
Gain on sale of loans (36,436) (46,258) (19,813)
Proceeds from the sale of loans held for sale 1,227,150 1,263,325 670,986
Origination of loans held for sale (1,118,186) (1,295,411) (684,297)
Gain on sale of other real estate owned (685) (391) (380)
Net changes in assets and liabilities:      
Decrease (increase) in accrued interest receivable 1,133 (3,467) 305
Decrease (increase) in other assets 12,739 (15,096) 6,395
(Decrease) increase in other liabilities (9,695) 12,415 2,411
Net Cash Provided (Used) by Operating Activities 111,989 (36,454) (821)
Investment in securities:      
Purchases of investment securities available for sale (320,501) (160,423) (132,104)
Purchases of marketable equity securities (493) (1,552) 0
Purchases of FHLB stock (573) (5,931) (880)
Purchases of investment securities held to maturity (10,000) (10,000) 0
Proceeds from sales/calls/maturities of securities available for sale 135,365 189,323 130,482
Proceeds from sales of marketable equity securities 1,084 601 229
Proceeds from redemption of FHLB stock 17 5,518 843
Decrease (increase) in purchased receivables, net 6,935 10,472 (9,871)
Decrease in loans, net 28,975    
Increase in loans, net   (408,365) (58,879)
Proceeds from sale of other real estate owned 2,610 797 1,299
Purchases of software (170) (416) (721)
Purchases of premises and equipment (2,338) (2,849) (2,318)
Net Cash (Used) Provided by Investing Activities (159,089) (382,825) (71,920)
Financing Activities:      
Increase in deposits 596,650 452,630 144,263
(Decrease) increase in securities sold under repurchase agreements 0 0 (34,278)
Proceeds from borrowings 0 110,610 1,817
Repayments of borrowings (309) (104,684) (167)
Proceeds from the issuance of common stock 1,543 84 73
Repurchase of common stock (11,534) (9,976) (12,569)
Cash dividends paid (9,388) (8,844) (8,512)
Net Cash Provided by Financing Activities 576,962 439,820 90,627
Net Change in Cash and Cash Equivalents 529,862 20,541 17,886
Cash and Cash Equivalents at Beginning of Year 115,965 95,424 77,538
Cash and Cash Equivalents at End of Year 645,827 115,965 95,424
Supplemental Information:      
Income taxes paid 6,380 7,790 1,658
Interest paid 3,813 6,009 5,640
Noncash commitments to invest in Low Income Housing Tax Credit Partnerships 0 0 11,267
Transfer of loans to other real estate owned 274 652 0
Loans made to facilitate sales of other real estate owned 1,012 0 0
Non-cash lease liability arising from obtaining right of use assets 79 370 1,234
Cash dividends declared but not paid 92 98 89
Cumulative effect adjustment to retained earnings $ 2,400 $ (139) $ 0