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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net Income $ 4,727 $ 24,589
Provision for credit losses 30,967 4,095
Deferred tax (benefit) expense (3,551) 1,443
Depreciation and amortization 2,926 2,478
Net gains on securities and other assets (1,645) (2,218)
Net amortization of premiums and discounts on securities 1,310 784
Income from increase in cash surrender value of bank owned life insurance (1,610) (1,426)
Increase in interest receivable (761) (2,346)
Mortgage loans originated for sale (65,236) (34,985)
Proceeds from sale of mortgage loans 61,777 35,255
Increase in interest payable 1,122 1,522
Increase in income taxes payable 4,528 4,454
Net cash provided by operating activities 33,116 18,689
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 18,504 8,641
Proceeds from Sale of Available-for-sale Securities 0 0
Proceeds from maturities and redemptions of available-for-sale securities 50,107 31,099
Purchases of available-for-sale securities (127,368) (6,401)
Purchases of FHLB stock (18,682) (10,293)
Proceeds from the redemption of FHLB stock 16,028 17,041
Proceeds from Life Insurance Policy 557 0
Proceeds from Sale of Loans Receivable 7,960 8,559
Proceeds from sale of other assets 1,361 1,144
Net increase in loans (140,013) (104,189)
Payments for Purchase of Other Assets (3,654) (4,128)
Net cash used in investing activities (195,200) (58,527)
Financing Activities    
Net increase (decrease) in federal funds purchased 27,000 (11,000)
Net decrease in other short-term borrowings (81,882) (145,207)
Net increase in deposits 245,591 232,892
Repayments of other long-term debt (162) (156)
Repayments of Long-term Capital Lease Obligations 105 99
Dividends paid (10,819) (9,862)
Purchase of treasury stock (5,220) (1,785)
Net cash provided by financing activities 174,403 64,783
Net increase in cash and cash equivalents 12,319 24,945
Cash and cash equivalents at January 1 121,856 98,947
Cash and cash equivalents at March 31 134,175 123,892
Increase (Decrease) in Other Operating Assets and Liabilities, Net $ 1,438 $ 14,956