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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 5,324 $ 4,919
Adjustments reconciling net income to net cash provided by (used in) operating activities:    
Provision for loan losses 50 500
Depreciation, amortization, and accretion 3,115 1,762
Equity method investment income 292 0
Share-based compensation expense 282 9
Net change in servicing asset (359) (290)
(Gain) loss on sales of securities, available-for-sale (24) 4
Gain on sales of SBA loans (1,726) (1,471)
Gain on sales of other real estate owned 0 (25)
Donation of other real estate owned 35 0
Writedown on other real estate owned 0 16
Gain on sales of premises & equipment (31) 0
Originations of loans held for sale (89,078) (105,919)
Proceeds from sales of loans held for sale 104,726 131,347
Change in bank-owned life insurance (329) (34)
Deferred tax benefit (230) (589)
Change in other assets 1,063 (3,619)
Change in other liabilities (1,168) 1,653
Net cash provided by operating activities 21,942 28,263
Investing Activities    
Purchases of investment securities, available-for-sale (90,258) (86,465)
Proceeds from maturities, calls, and paydowns of investment securities, available-for-sale 17,618 24,819
Proceeds from sales of investment securities, available-for-sale 3,061 1,643
Proceeds from maturities, calls and paydowns of securities, held-to-maturity 2,340 0
Change in loans, net (16,365) (3,525)
Purchase of premises and equipment (692) (1,300)
Proceeds from sales of premises and equipment 40 0
Proceeds from sales of other real estate owned 0 607
Redemption (purchase) of Federal Home Loan Bank Stock (107) 593
Net cash used in investing activities (84,363) (63,628)
Financing Activities    
Change in noninterest-bearing customer deposits 5,409 57,831
Change in interest-bearing customer deposits (29,231) 23,026
Issuance of common stock, net of stock issuance cost 59,468 0
Dividends paid for common stock (1,477) (973)
Repayment on Paycheck Protection Program Liquidity Fund 0 (46,187)
Repayments on Other borrowings (12,563) (250)
Net cash provided by financing activities 21,606 33,447
Net decrease in cash and cash equivalents (40,815) (1,918)
Cash and cash equivalents at beginning of period 197,232 183,506
Cash and cash equivalents at end of period 156,417 181,588
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 1,109 994
Cash paid during the period for income taxes 7 0
Noncash Investing and Financing Activities    
Acquisition of real estate through foreclosure 0 110
Carrying amount of Securities AFS transferred to HTM, net of $13,107 unrealized loss $ 320,116 $ 0