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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 31,795 $ 30,131
Adjustments to reconcile net income to net cash from operating activities:    
(Credit) provision for credit losses (448) 475
Provision for unfunded loans 706 0
Depreciation and amortization 2,341 1,601
Net amortization of securities 2,708 1,357
Available for sale security losses (gains) 31 (384)
Realized losses (gains) on equity securities 40 (136)
Loss on premises and equipment sales and disposals, net 20 52
Stock compensation expense 803 587
Earnings on bank owned life insurance (814) (584)
Origination of loans held for sale (65,892) (136,122)
Proceeds from loans held for sale 69,128 144,651
Net gains on sale of loans (1,494) (5,091)
Net change in other assets and liabilities 1,309 (13,090)
NET CASH FROM OPERATING ACTIVITIES 40,233 23,447
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 45,241 31,319
Proceeds from sales of securities available for sale 1,670 26,990
Purchases of securities available for sale (201,518) (469,254)
Proceeds from sales of equity securities 35 30
Purchase of equity securities (38) (36)
Proceeds from maturities and repayments of SBIC funds 1,013 967
Purchases of SBIC funds (1,475) (602)
Proceeds from redemption of regulatory stock 5 754
Purchase of regulatory stock (3,572) (22)
Loan originations and payments, net (45,593) 120,336
Proceeds from land and building sales 1,067 0
Additions to premises and equipment (1,872) (122)
NET CASH FROM INVESTING ACTIVITIES (205,037) (289,640)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 78,303 167,945
Net change in short-term borrowings 50,000 1,307
Repayment of long-term borrowings 0 (1,980)
Cash dividends paid (10,831) (6,227)
Repurchase of common shares 0 (116)
NET CASH FROM FINANCING ACTIVITIES 117,472 160,929
NET CHANGE IN CASH AND CASH EQUIVALENTS (47,332) (105,264)
Beginning cash and cash equivalents 112,790 254,621
Ending cash and cash equivalents 65,458 149,357
Supplemental cash flow information:    
Interest paid 4,803 4,842
Supplemental noncash disclosures:    
Transfer of loans to other real estate 0 30
Security purchases not settled 0 17,317
Issuance of stock awards $ 1,760 $ 1,038