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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income $ 14,500 $ 6,916
Adjustments reconciling net income to net cash provided by (used in) operating activities:    
Provision for loan losses 650 5,262
Depreciation, amortization, and accretion 5,592 4,007
Share-based compensation expense 112 25
Net change in servicing asset (656) (207)
Gain on sales of securities (137) (1,009)
Gain on sales of SBA loans (4,548) (1,004)
(Gain)/ loss on sales of other real estate owned 54 (56)
(Recovery)/Writedown on other real estate owned 21 68
Loss on sales of premises & equipment 0 56
Writedown of building 0 582
Originations of loans held for sale (294,759) (75,268)
Proceeds from sales of loans held for sale 324,996 30,484
Change in bank-owned life insurance (538) 290
Deferred tax benefit (2,794) 1,198
Change in other assets 1,924 (1,715)
Change in other liabilities (3,426) 1,187
Net cash provided by (used in) operating activities 40,991 (29,184)
Investing Activities    
Purchases of investment securities available for sale (230,868) (124,864)
Proceeds from maturities, calls, and paydowns of investment securities available for sale 75,830 71,564
Proceeds from sales of investment securities available for sale 17,559 44,495
Purchase of bank owned life insurance 0 (10,000)
Change in loans, net 56,679 (135,801)
Purchase of premises and equipment (2,924) (2,796)
Proceeds from sales of other real estate owned 807 1,139
Purchase of other investments (9,582) 0
Redemption/sales of other investments 585 992
Proceeds from sales of premises and equipment 2,307 144
Net cash and cash equivalents received from acquisition 34,087 0
Net cash used in investing activities (55,520) (155,127)
Financing Activities    
Change in noninterest-bearing customer deposits 72,982 91,500
Change in interest-bearing customer deposits 45,738 31,158
Dividends paid for common stock (3,348) (2,850)
Proceeds from Paycheck Protection Program Liquidity Fund 0 140,700
Repayment on Paycheck Protection Program Liquidity Fund (106,789) (6,200)
Repayments on Federal Home Loan Bank Advances 0 (38,500)
Proceeds from Federal Home Loan Bank Advances 0 14,000
Repayments on Other borrowings (750) (750)
Issuance of restricted stock 187 0
Net cash provided by financing activities 8,020 229,058
Net (decrease) increase in cash and cash equivalents (6,509) 44,747
Cash and cash equivalents at beginning of period 183,506 104,092
Cash and cash equivalents at end of period 176,997 148,839
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 3,189 6,230
Cash paid during the period for income taxes 4,923 1,250
Noncash Investing and Financing Activities    
Goodwill adjustment 0 485
Acquisition of real estate through foreclosure $ 145 $ 1,706