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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 before noncontrolling interest $ 38,696 $ 37,411 $ 26,991
Adjustments to reconcile net income to net cash from operating activities:      
Net amortization and accretion of investments 4,054 1,892 1,258
Net amortization of deferred loan (fees) costs 2,969 1,692 (448)
Provision (release of allowance) for loan losses (6,275) 16,579 1,789
Depreciation and amortization 4,198 3,292 3,260
Stock-based compensation 2,634 2,353 1,759
Stock-based compensation related to equity method investment 574 0 0
Loans originated for sale (30,033) (1,334,910) (1,604,825)
Proceeds of loans sold 22,024 1,477,063 1,611,889
Holding gain on equity securities (3,776) (374) (13,767)
Mortgage fee income 0 (33,427) (41,045)
Gain on sale of available-for-sale securities (3,944) (948) (105)
Loss on sale of available-for-sale securities 69 34 271
Gain on sale of equity securities (5) (3,501) 0
Loss on sale of equity securities 0 0 7
Gain on sale of loans, net (4,178) (332) (520)
Gains on acquisition and divestiture activity (10,783) (17,640) 0
Gain on sale of other real estate owned (1,396)
Income on bank-owned life insurance, including death benefit proceeds in excess of cash surrender value (995) (888) (1,197)
Deferred taxes 6,129 (3,386) (3,953)
Amortization of operating lease right-of-use asset 95 86 10
Equity method investment income (17,428) (27,574) 0
Return on equity method investment 31,032 3,400 0
Other assets (1,535) (27,286) (14,753)
Other liabilities 2,689 18,699 25,317
Net cash from operating activities 34,815 112,235 (8,062)
INVESTING ACTIVITIES      
Purchases of investment securities available-for-sale (216,621) (269,790) (70,984)
Maturities/paydowns of investment securities available-for-sale 49,248 64,493 33,583
Sales of investment securities available-for-sale 146,011 54,023 31,220
Purchases of premises and equipment (4,865) (6,615) (2,042)
Disposals of premises and equipment 300 1,687 0
Net increase in loans and loans included in assets of branches held-for-sale (460,672) (70,186) (113,076)
Purchases of restricted bank stock (1,410) (25,831) (49,600)
Redemptions of restricted bank stock 2,364 38,048 45,853
Proceeds from sale of certificates of deposit with banks 9,084 1,739 2,229
Purchases of certificates of deposit with banks 0 (993) 0
Proceeds from sale of other real estate owned 3,818 8,309 731
Purchase of bank-owned life insurance 0 (5,000) (574)
Proceeds from death benefit of bank-owned life insurance policies 0 0 688
Purchase of equity method investment (500) 0 0
Purchase of equity securities (2,982) (9,918) (1,400)
Sales of equity securities 543 4,622 5,968
Proceeds from divestitures (95,500) (136,005) 0
Cash paid for acquisitions, net of cash acquired (772) 57,306 (2,651)
Net cash from investing activities (571,954) (294,111) (120,055)
FINANCING ACTIVITIES      
Net increase in deposits and deposits in branches held-for-sale 558,342 574,691 144,158
Net change in repurchase agreements 1,119 94 (4,753)
Net change in FHLB and other borrowings 0 (180,283) 7,998
Subordinated debt issuance (redemption) 30,000 40,000 (12,400)
Subordinated debt issuance and conversion costs (552) (717) 0
Common stock repurchased 0 (15,746) 0
Preferred stock redemption (7,334) 0 (500)
Common stock options exercised 4,930 4,464 2,164
Withholding cash issued in lieu of restricted stock (249) 0 0
Cash dividends paid on common stock (6,038) (4,275) (2,290)
Cash dividends paid on preferred stock (35) (461) (479)
Issuance of subsidiary membership units 500 0 0
Net cash from financing activities 580,683 417,767 133,898
Net change in cash and cash equivalents 43,544 235,891 5,781
Cash and cash equivalents at beginning of period 263,893 28,002 22,221
Cash and cash equivalents at end of period 307,437 263,893 28,002
Business combination non-cash disclosures:      
Assets acquired in business combinations (net of cash received) 739,000 87,722 3,389
Liabilities assumed in business combination 605,000 148,731 855
Supplemental disclosure of cash flow information:      
Loans transferred to other real estate owned 357 800 115
Change in unrealized holding gains (losses) on securities available-for-sale (9,595) 6,193 8,726
Fair value of non-controlling interests at acquisition date 1,400 0 0
Employee stock-based compensation tax withholding obligations (7) 35 57
Restricted stock units vested 77 49 10
Common stock converted from subordinated debt 0 0 1,000
Initial recognition of operating lease right-of-use assets 0 0 12,935
Initial recognition of operating lease liabilities 0 0 15,659
Common stock issued related to investments and acquisitions 5,074 240 0
Cash payments for:      
Interest on deposits, repurchase agreements and borrowings 6,152 12,271 22,970
Income taxes $ 11,960 $ 11,966 $ 3,962