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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 15,844 $ 14,556
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses (930) 425
Provision for unfunded loans 572 0
Depreciation and amortization 1,162 798
Net amortization of securities 1,378 618
Available for sale security gain 0 (383)
Realized (gains) losses on equity securities 11 (105)
Loss on premises and equipment sales and disposals, net 112 52
Stock compensation expense 365 330
Earnings on bank owned life insurance (409) (284)
Origination of loans held for sale (41,419) (51,990)
Proceeds from loans held for sale 45,369 55,948
Net gains on sale of loans (1,129) (2,900)
Net change in other assets and liabilities (7,727) (10,028)
NET CASH FROM OPERATING ACTIVITIES 13,199 7,037
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 22,712 17,155
Proceeds from sales of securities available for sale 0 26,186
Purchases of securities available for sale (172,437) (241,345)
Proceeds from sales of equity securities 18 20
Purchase of equity securities (17) (25)
Proceeds from maturities and repayments of SBIC funds 454 285
Purchases of SBIC funds (454) (196)
Proceeds from redemption of regulatory stock 0 253
Purchase of regulatory stock (3,572) (22)
Loan originations and payments, net 24,098 42,976
Proceeds from land and building sales 21 0
Additions to premises and equipment (346) (219)
NET CASH FROM INVESTING ACTIVITIES (129,523) (154,932)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 146,576 222,176
Net change in short-term borrowings 0 2,689
Repayment of long-term borrowings 0 (1,980)
Cash dividends paid (5,415) (3,110)
Repurchase of common shares 0 (116)
NET CASH FROM FINANCING ACTIVITIES 141,161 219,659
NET CHANGE IN CASH AND CASH EQUIVALENTS 24,837 71,764
Beginning cash and cash equivalents 112,790 254,621
Ending cash and cash equivalents 137,627 326,385
Supplemental cash flow information:    
Interest paid 1,498 2,597
Supplemental noncash disclosures:    
Transfer of loans to other real estate 0 30
Security purchases not settled 0 44,814
Issuance of stock awards $ 1,398 $ 894