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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net income $ 20,628 $ 19,372 $ 59,345 $ 59,371  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     4,034 3,843  
Deferred taxes     243 306  
Stock-based compensation     1,152 1,008  
Provision for credit losses 1,871 2,414 4,996 3,366 $ 4,905
Write-downs of other real estate owned and other repossessed assets     230 275  
Gains on sale of mortgage loans held for sale (105) (235) (341) (1,351)  
Securities (gains)/losses     (4) 1  
Fair value adjustments in equity securities (355) 159 (734) 284  
Gains on sale of assets, net     (378) (211)  
Proceeds from sale of mortgage loans held for sale     13,271 59,416  
Funding of mortgage loans held for sale     (12,821) (56,476)  
Amortization of securities premiums and discounts, net     2,094 4,521  
Change in cash surrender value of bank owned life insurance     (1,850) (1,357)  
Changes in lease liabilities     (1,201) (1,325)  
Mortgage servicing rights:          
Fair value adjustments     320 (1,247)  
New servicing assets created     (141) (555)  
Changes in:          
Accrued interest receivable     (1,875) (1,098)  
Other assets     (5,561) 911  
Accrued interest payable     5,973 1,485  
Other liabilities     (986) 1,247  
Net cash provided by operating activities     65,766 72,414  
Securities available-for-sale (AFS):          
Purchase of AFS securities     (9,398) (178,055)  
Proceeds from sales of AFS securities     20,670 0  
Proceeds from prepayments, calls, and maturities of AFS securities     93,104 148,494  
Change in loans, net     (277,466) (221,985)  
Purchase of premises and equipment     (5,027) (4,309)  
Proceeds from sale and retirement of premises and equipment     349 512  
Purchase of Federal Home Loan Bank stock     (994) 0  
Proceeds from sale of stock by Federal Home Loan Bank     0 1,463  
Proceeds from sale of other real estate owned and repossessed assets     819 955  
Additional investment in other real estate owned and repossessed assets     (47) (73)  
Liquidation of cash surrender value of bank owned life insurance     241 0  
Proceeds from settlement of bank owned life insurance     336 1  
Net cash used in investing activities     (177,413) (252,997)  
Cash flows from financing activities:          
Change in deposits, net     201,749 190,776  
Change in repurchase agreements and federal funds purchased, net     17,146 (40,965)  
Proceeds from Federal Home Loan Bank advances     225,000 20,000  
Payments on advances from Federal Home Loan Bank     (225,015) (20,015)  
Payment of finance lease liabilities     0 (18)  
Proceeds from long-term debt/other borrowings     6,563 0  
Repayment of long-term debt/other borrowings     (108) 0  
Issuance of common stock     837 755  
Dividends paid     (23,953) (22,077)  
Net cash provided by financing activities     202,219 128,456  
Net increase (decrease) in cash and cash equivalents     90,572 (52,127)  
Cash and cash equivalents at beginning of period     128,686 311,756 311,756
Cash and cash equivalents at end of period $ 219,258 $ 259,629 219,258 259,629 $ 128,686
Supplemental disclosures:          
Income taxes paid     17,628 12,260  
Interest paid     59,213 14,441  
Non-cash activities:          
Loans to facilitate the sale of other real estate owned and repossessed assets     1,022 985  
Common stock dividends accrued, paid in subsequent quarter     291 286  
Real estate acquired in settlement of loans     500 478  
Right-of-use assets obtained in exchange for new operating lease liabilities     $ 364 $ 405