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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net income $ 19,404 $ 20,271 $ 38,717 $ 39,999  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     2,561 2,560  
Deferred taxes     242 306  
Stock-based compensation     788 742  
Provision for credit losses 2,009 77 3,125 952 $ 4,905
Write-downs of other real estate owned and other repossessed assets     106 269  
Gains on sale of mortgage loans held for sale (115) (519) (236) (1,116)  
Securities (gains)/losses   1 (4) 1  
Fair value adjustments in equity securities (165) 224 (379) 125  
Gains on sale of assets, net     (325) (43)  
Proceeds from sale of mortgage loans held for sale     9,098 49,301  
Funding of mortgage loans held for sale     (8,991) (46,489)  
Amortization of securities premiums and discounts, net     1,454 3,341  
Change in cash surrender value of bank owned life insurance     (1,029) (878)  
Changes in lease liabilities     (678) (894)  
Mortgage servicing rights:          
Fair value adjustments     334 (994)  
New servicing assets created     (96) (452)  
Changes in:          
Accrued interest receivable     (665) (386)  
Other assets     (1,421) (154)  
Accrued interest payable     3,387 847  
Other liabilities     (5,364) (855)  
Net cash provided by operating activities     40,624 46,182  
Securities available-for-sale (AFS):          
Purchase of AFS securities     (8,820) (178,054)  
Proceeds from sales of AFS securities     18,561 0  
Proceeds from prepayments, calls, and maturities of AFS securities     56,666 102,230  
Change in loans, net     (220,647) (149,504)  
Purchase of premises and equipment     (2,081) (2,262)  
Proceeds from sale and retirement of premises and equipment     296 0  
Proceeds from sale of stock by Federal Home Loan Bank     131 0  
Proceeds from sale of other real estate owned and repossessed assets     739 888  
Additional investment in other real estate owned and repossessed assets     (40) (73)  
Proceeds from settlement of bank owned life insurance     0 1  
Net cash used in investing activities     (155,195) (226,774)  
Cash flows from financing activities:          
Change in deposits, net     90,517 128,636  
Change in repurchase agreements and federal funds purchased, net     13,589 (32,355)  
Proceeds from Federal Home Loan Bank advances     100,000 20,000  
Payments on advances from Federal Home Loan Bank     (100,010) (20,010)  
Payment of finance lease liabilities     0 (12)  
Proceeds from long-term debt/other borrowings     6,563 0  
Repayment of long-term debt/other borrowings     (54) 0  
Issuance of common stock     558 499  
Dividends paid     (15,733) (14,256)  
Net cash provided by financing activities     95,430 82,502  
Net decrease in cash and cash equivalents     (19,141) (98,090)  
Cash and cash equivalents at beginning of period     128,686 311,756 311,756
Cash and cash equivalents at end of period $ 109,545 $ 213,666 109,545 213,666 $ 128,686
Supplemental disclosures:          
Income taxes paid     12,308 8,710  
Interest paid     35,440 7,210  
Non-cash activities:          
Loans to facilitate the sale of other real estate owned and repossessed assets     1,022 935  
Common stock dividends accrued, paid in subsequent quarter     281 257  
Real estate acquired in settlement of loans     175 444  
Right-of-use assets obtained in exchange for new operating lease liabilities     $ 364 $ 405