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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 28,171 $ 17,059
Adjustments to reconcile net income to net cash provided by operations:    
Provision for credit loss expense 4,089 8,759
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 3,390 2,914
Amortization (accretion) of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (1,058) (856)
Accretion of deferred PPP processing fees (4,370) 0
Net realized gains on sales of available-for-sale securities 0 2,190
Net realized and unrealized (gains) losses on trading securities (470) 282
Gain on sale of loans (1,568) (820)
Net losses (gains) on dispositions of premises and equipment and foreclosed assets 245 253
Proceeds from sale of loans 35,912 40,520
Origination of loans held for sale (42,030) (45,970)
Income on bank owned life insurance, including death benefit proceeds in excess of cash surrender value (1,444) (865)
Stock-based compensation expense 812 835
Changes in:    
Accrued interest receivable and other assets (1,567) (6,697)
Accrued interest payable, lease liabilities, and other liabilities 833 (2,307)
NET CASH PROVIDED BY OPERATING ACTIVITIES 20,945 10,917
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, prepayments and calls of available-for-sale securities 87,541 71,803
Proceeds from sales of available-for-sale securities 0 57,185
Purchase of available-for-sale securities (190,818) (121,506)
Proceeds from sale of trading securities 0 5,935
Purchase of trading securities (201) (2,297)
Loan origination and payments, net (87,969) (228,598)
Purchase of BOLI (22,000) 0
Proceeds from death benefit of BOLI policies 1,390 0
Redemption (purchase) of FHLB, other equity, and restricted equity interests (460) (793)
Purchase of premises and equipment (2,463) (2,697)
Proceeds from the sale of premises and equipment and foreclosed assets 518 571
NET CASH USED BY INVESTING ACTIVITIES (214,462) (220,397)
Net change in:    
Checking, money market and savings accounts 355,307 519,615
Certificates of deposit (32,286) (25,920)
Purchase of treasury stock (160) (325)
Cash dividends paid, common stock (5,731) (5,235)
Cash dividends paid, preferred stock (2,150) 0
Proceeds from common stock offering, net of issuance costs 0 3,313
Proceeds from issuance of subordinated notes, net of issuance costs 83,516 0
Repayment of long-term borrowings 0 (34,379)
Proceeds from long-term borrowings 0 222,785
NET CASH PROVIDED BY FINANCING ACTIVITIES 398,496 679,854
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 204,979 470,374
CASH AND CASH EQUIVALENTS, Beginning 532,694 192,974
CASH AND CASH EQUIVALENTS, Ending 737,673 663,348
Cash paid during the period for:    
Interest 10,293 18,151
Income taxes 5,582 240
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers to other real estate owned 314 189
Transfers from loans held for sale to loans held for investment 7,044 0
Transfers from loans held for investment to loans held for sale 1,798 0
Grant of restricted stock awards from treasury stock 1,228 892
Grant of performance based restricted stock awards from treasury stock $ 262 $ 217