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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income $ 8,917 $ 3,817
Adjustments reconciling net income to net cash provided by operating activities:    
Provision for loan losses 500 4,156
Depreciation, amortization, and accretion 3,231 2,042
Share-based compensation expense 17 17
Net change in servicing asset (485) (46)
Gain on sales of securities (137) (293)
Gain on sales of SBA loans (2,735) (255)
Gain on sales of other real estate owned (36) 0
(Recovery)/Writedown on other real estate owned 80 (98)
Loss on sales of premises & equipment 0 104
Originations of loans held for sale (207,531) (83,007)
Proceeds from sales of loans held for sale 231,742 76,802
Change in bank-owned life insurance (258) (334)
Deferred tax benefit (518) 0
Change in other assets 2,261 (2,165)
Change in other liabilities (760) 2,651
Net cash provided by operating activities 34,288 3,391
Investing Activities    
Purchases of investment securities available for sale (166,995) (79,988)
Proceeds from maturities, calls, and paydowns of investment securities available for sale 53,620 46,302
Proceeds from sales of investment securities available for sale 17,559 15,314
Change in loans, net 36,671 (147,129)
Purchase of premises and equipment (1,764) (2,011)
Proceeds from sales of other real estate owned 837 1,125
Redemption of Federal Home Loan Bank Stock 593 334
Net cash used in investing activities (59,479) (166,053)
Financing Activities    
Change in noninterest-bearing customer deposits 66,678 96,215
Change in interest-bearing customer deposits 30,509 31,801
Dividends paid for common stock (1,947) (1,900)
Proceeds from Paycheck Protection Program Liquidity Fund 0 134,500
Repayment on Paycheck Protection Program Liquidity Fund (106,789) 0
Repayments on Federal Home Loan Bank Advances 0 (24,500)
Proceeds from Federal Home Loan Bank Advances 0 14,000
Repayments on Other borrowings (500) (500)
Net cash provided by (used in) financing activities (12,049) 249,616
Net (decrease) increase in cash and cash equivalents (37,240) 86,954
Cash and cash equivalents at beginning of period 183,506 104,092
Cash and cash equivalents at end of period 146,266 191,046
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 2,377 5,179
Cash paid during the period for income taxes 3,600 0
Noncash Investing and Financing Activities    
Goodwill adjustment 0 485
Acquisition of real estate through foreclosure $ 145 $ 1,476