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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 48,872 $ 46,583 $ 29,131
Adjustments to reconcile net income to net cash provided by operating activities:      
Net (accretion) amortization on securities 4,848 3,622 3,786
Provision for loan losses 4,700 5,768 5,295
Securities (gains) losses (44) (2) (59)
Depreciation and amortization 4,826 4,164 4,426
Provision for deferred income taxes (2,841) (2,428) (4,241)
Net change in accrued interest receivable (903) (1,057) (602)
Contribution of shares to ESOP 1,251 1,087 1,062
Gain on Sale of certain assets and liabilities of Insurance Brokerage Operation 0 0 0
Stock compensation expense 801 745 706
Gain on sale of mortgage loans (2,573) (1,829) (1,688)
Loss (gain) on sales of other real estate 44 86 108
Origination of loans held for sale (79,454) (57,418) (62,712)
Proceeds from loans held for sale 79,454 62,098 66,265
Other, net (9,080) (3,971) 8,658
NET CASH FROM OPERATING ACTIVITIES 49,901 57,448 50,135
CASH FLOWS FROM INVESTING ACTIVITIES:      
Sales of securities available-for-sale 3,259 0 9,743
Calls, maturities and principal reductions on securities available-for-sale 181,763 143,157 141,819
Purchases of securities available-for-sale (129,466) (124,333) (111,138)
Loans made to customers, net of payments (47,169) (52,905) (72,463)
Net change in federal funds sold (7,500) 0 6,952
Redemption of restricted stock 3,588 0 0
Purchase of restricted stock (4,164) (11) (20)
Cash Acquired from Acquisition (32,830) 0 0
Sale of other real estate 756 1,781 1,419
Additions to premises and equipment (1,103) (2,013) (2,979)
NET CASH FROM INVESTING ACTIVITIES (32,866) (34,324) (26,667)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net change in deposits 104,113 (21,926) 30,121
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase (55,147) 11,970 (23,303)
Dividends paid (12,648) (12,496) (30,556)
Purchases of treasury stock (315) (391) (503)
Proceeds from FHLBank Borrowings, Financing Activities 217,000 115,600 170,000
Payments of FHLBank Borrowings, Financing Activities 217,000 115,600 170,132
NET CASH FROM FINANCING ACTIVITIES 36,003 (22,843) (24,373)
NET CHANGE IN CASH AND CASH EQUIVALENTS 53,038 281 (905)
SUPPLEMENTAL DISCLOSURES OF CASH FLOW AND NONCASH INFORMATION:      
Interest Paid, Excluding Capitalized Interest, Operating Activities 16,339 9,408 6,337
Income Taxes 9,595 7,185 11,158
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 127,426 $ 74,388 $ 74,107