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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 21,747 $ 19,542
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 3,600 3,370
Depreciation, amortization and accretion 8,702 11,629
Stock-based compensation expense 1,701 1,743
Loss on sales of securities available for sale 0 82
Net change in servicing asset (416) (554)
Loss on sales of other real estate and repossessions 70 0
Gain on sales of premises & equipment (205) (62)
Gain on sales of bank owned buildings and land (249) 0
Change in bank owned life insurance (1,421) (1,353)
Equity method investment (loss) income (169) 364
Deferred tax (benefit) expense (485) 1,130
Donation of other real estate owned 0 35
Gain on sales of SBA loans (5,063) (6,216)
Origination of loans held for sale (257,753) (317,997)
Proceeds from sales of loans held for sale 252,601 344,620
Change in other assets (3,163) (7,593)
Change in other liabilities 1,486 1,001
Net cash provided by operating activities 20,983 49,741
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of investment securities available for sale (3,917) (174,219)
Proceeds from maturities, calls, and paydowns of investment securities available for sale 36,711 54,859
Proceeds from sales of investment securities available for sale 0 60,924
Proceeds from maturities, calls, and paydowns of investment securities held to maturity 19,567 11,592
Net change in loans (148,601) (399,871)
Purchase of premises and equipment (3,618) (2,895)
Proceeds from sales of other real estate and repossessions 412 0
Redemption of other investments 800 3,306
Proceeds from bank owned life insurance 0 1,008
Purchase of Federal Home Loan Bank stock (3,706) (3,451)
Proceeds from sales of bank owned buildings and land 3,167 0
Proceeds from sales of premises and equipment 433 519
Net cash used in investing activities (98,752) (448,228)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in noninterest-bearing customer deposits (70,178) 16,594
Change in interest-bearing customer deposits 123,971 99,795
Dividends paid on common stock (7,722) (7,158)
Proceeds from Federal Home Loan Bank advances 785,000 430,000
Repayments of Federal Home Loan Bank advances (735,000) (357,500)
Issuance of subordinated debt, net 0 39,068
Proceeds from other borrowings 450,000 162,437
Repayments on other borrowings (465,000) (160,000)
Issuance of common stock 0 59,468
Repurchase of shares (406) (540)
Cash paid for tax withholding related to vesting of restricted stock (252) (231)
Net cash provided by financing activities 80,413 281,933
Net increase (decrease) in cash and cash equivalents 2,644 (116,554)
Cash and cash equivalents at beginning of period 80,678 197,232
Cash and cash equivalents at end of period 83,322 80,678
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest 44,855 10,222
Cash paid during the period for income taxes 5,209 3,836
NONCASH INVESTING AND FINANCING ACTIVITIES    
Transfers to other real estate 3,083 405
Change in goodwill 0 (3,984)
Carrying amount of securities AFS transferred to HTM, net of $34.0 million unrealized loss $ 0 $ 510,956