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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Proceeds from FHLBank Borrowings, Financing Activities $ 25,000 $ 0
Operating Activities    
Net Income 13,493 14,273
Adjustments to reconcile net income to net cash used in operating activities:    
Originations of mortgage loans held for sale (85,676) (32,405)
Proceeds from the sale of mortgage loans 70,711 28,834
Gain on sale of mortgage loans, net of origination costs (1,476) (826)
Provision for credit losses 1,775 744
Depreciation and amortization expense 969 922
Investment securities amortization and accretion, net 742 660
Stock-based compensation expense 421 458
Amortization of intangible assets 170 176
Purchase accounting accretion, net (244) (477)
Increase in other assets (34,101) (10,710)
Increase (decrease) in other liabilities 221 (6,291)
Net cash used in operating activities (32,995) (4,642)
Investing Activities    
Proceeds from sales and maturities of available-for-sale securities 40,188 26,355
Purchase of available-for-sale securities (58,826) (26,749)
Net increase in loans (62,982) (16,734)
Purchase of Federal Home Loan Bank stock (9,161) (2,012)
Proceeds from sale of Federal Home Loan Bank stock 7,754 5,691
Purchase of premises and equipment 1,284 1,583
Recoveries of previously charged-off loans 68 75
Net cash used in investing activities (84,243) (14,957)
Financing Activities    
Net increase in deposits 25,966 113,740
Net proceeds from (repayments of) borrowings less than 90 days 57,913 (14,687)
Common stock repurchases (7,973) (1,957)
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings (53) (215)
Cash dividends paid on common stock 5,009 4,687
Finance lease payments (33) (26)
Net cash provided by financing activities 95,811 92,168
Net (decrease) increase in cash, cash equivalents and restricted cash (21,427) 72,569
Cash, cash equivalents, and restricted cash at beginning of period 75,636 66,999
Cash, cash equivalents and restricted cash at end of period 54,209 139,568
Supplemental information    
Interest paid 8,555 9,738
Income taxes paid 126 91
Unsettled common stock repurchase 0 349
Transfer from loans to other real estate owned $ 0 $ 543