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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 18,659 $ 11,815
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan losses 700 6,558
Depreciation, amortization and accretion 8,628 5,859
Stock-based compensation expense 599 33
(Gains) losses on sales of securities available for sale 87 (926)
Net increase in servicing asset (1,040) (295)
Loss on sales and writedowns of other real estate and repossessions 48 8
(Gain) losses on sales of premises & equipment 49 (56)
Gain on sale of bank owned buildings (96) (1,028)
Writedowns on sale of bank owned buildings 90 582
Increase in bank owned life insurance (1,042) (743)
Gain on sales of SBA loans (7,547) (1,600)
Origination of loans held for sale (439,160) (315,929)
Proceeds from sales of loans held for sale 460,943 275,219
Change in other assets (654) (696)
Change in other liabilities (4,160) 2,105
Net cash provided by (used in) operating activities 36,104 (19,094)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of investment securities available for sale (460,500) (181,685)
Proceeds from maturities, calls, and paydowns of investment securities available for sale 103,002 96,999
Proceeds from sales of investment securities available for sale 96,781 58,069
Net change in loans 28,450 (94,623)
Purchase of premises and equipment (5,838) (4,241)
Proceeds from sales of other real estate and repossessions 1,360 2,363
Purchase of equity securities (9,500) 0
Purchase of bank-owned life insurance 0 (10,000)
Proceeds from bank owned life insurance 752 825
Redemption (purchase of) Federal Home Loan Bank stock 2,308 992
Proceeds from sale of bank owned buildings 1,535 0
Proceeds from sales of premises and equipment 17 1,035
Net cash and cash equivalents received from bank acquisition 37,511 0
Net cash and cash equivalents paid in insurance acquisitions (4,210) 0
Net cash used in investing activities (208,332) (130,266)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in noninterest-bearing customer deposits 86,307 94,364
Change in interest-bearing customer deposits 211,899 56,921
Dividends paid on common stock (4,463) (3,800)
Proceeds from Paycheck Protection Program Liquidity Fund 0 134,500
Repayment of Paycheck Protection Program Liquidity Fund (106,789) (27,711)
Proceeds from Federal Home Loan Bank advances 0 14,000
Repayments of Federal Home Loan Bank advances 0 (38,500)
Repayments of other borrowings (1,000) (1,000)
Net cash provided by financing activities 185,954 228,774
Net increase in cash and cash equivalents 13,726 79,414
Cash and cash equivalents at beginning of period 183,506 104,092
Cash and cash equivalents at end of period 197,232 183,506
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest 4,387 7,821
Cash paid during the period for income taxes 3,859 2,450
NONCASH INVESTING AND FINANCING ACTIVITIES    
Acquisition of real estate through foreclosure 145 2,057
Change in goodwill $ 0 $ 485