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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 22,041,000 $ 31,795,000
Adjustments to reconcile net income to net cash from operating activities:    
Provision (credit) for credit losses 8,050,000 (448,000)
Provision for unfunded loans 574,000 706,000
Depreciation and amortization 4,101,000 2,341,000
Net amortization of securities 450,000 2,708,000
Available for sale security (gains) losses (120,000) 31,000
Realized (gains) losses on equity securities (14,000) 40,000
Loss on premises and equipment sales and disposals, net 0 20,000
Stock compensation expense 1,264,000 803,000
Earnings on bank owned life insurance (1,131,000) (814,000)
Origination of loans held for sale (19,634,000) (65,892,000)
Proceeds from loans held for sale 21,945,000 69,128,000
Net gains on sale of loans (716,000) (1,494,000)
Net change in other assets and liabilities (7,935,000) 1,309,000
NET CASH FROM OPERATING ACTIVITIES 28,875,000 40,233,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 30,034,000 45,241,000
Proceeds from sales of securities available for sale 69,918,000 1,670,000
Purchases of securities available for sale (650,000) (201,518,000)
Proceeds from sales of equity securities 24,000 35,000
Purchase of equity securities (31,000) (38,000)
Proceeds from maturities and repayments of SBIC funds 543,000 1,013,000
Purchases of SBIC funds (531,000) (1,475,000)
Proceeds from redemption of regulatory stock 13,951,000 5,000
Purchase of regulatory stock (17,679,000) (3,572,000)
Loan originations and payments, net (10,436,000) (45,593,000)
Proceeds from land and building sales 0 1,067,000
Additions to premises and equipment 779,000 (1,872,000)
Net cash paid in business combinations (13,175,000) 0
NET CASH FROM INVESTING ACTIVITIES 72,747,000 (205,037,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits (166,833,000) 78,303,000
Net change in short-term borrowings 130,000,000 50,000,000
Cash dividends paid (12,733,000) (10,831,000)
Repurchase of common shares (11,544,000) 0
NET CASH FROM FINANCING ACTIVITIES (61,110,000) 117,472,000
NET CHANGE IN CASH AND CASH EQUIVALENTS 40,512,000 (47,332,000)
Beginning cash and cash equivalents 75,551,000 112,790,000
Ending cash and cash equivalents 116,063,000 65,458,000
Supplemental cash flow information:    
Interest paid 34,161,000 4,803,000
Supplemental noncash disclosures:    
Issuance of stock awards 1,194,000 1,760,000
Issuance of stock for business combinations $ 59,202,000 $ 0