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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income $ 34,079 $ 40,613
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for (recovery of) credit losses 3,156 (7,625)
Depreciation and amortization of premises and equipment 3,205 3,346
(Accretion) amortization of premiums on investments, net (26) 307
Amortization of FDIC indemnification asset, net 0 1,226
Amortization of intangible assets 1,082 1,082
Accretion on acquired loans (2,224) (3,599)
Gain on divestiture (1,658) 0
Equity-based compensation expense 536 858
Issuance of common stock to 401(k) plan 415 373
(Gain) loss on sale of premises and equipment, net (772) 518
Loss on sale of other real estate owned 423 135
(Increase) decrease in accrued interest receivable (445) 906
Decrease (increase) in other operating activities 3,757 (1,547)
Net cash provided by operating activities 41,528 36,593
Investing activities    
Proceeds from maturities, prepayments, and calls of securities available for sale 19,855 21,183
Payments to acquire securities available for sale (264,960) (16,578)
Net (increase) decrease in loans (197,035) 41,185
(Purchase of) proceeds from FHLB stock, net (240) 1,012
Proceeds from bank owned life insurance 1,046 0
Cash proceeds paid in divestiture (59,039) 0
Proceeds from sale of premises and equipment 1,542 2,578
Payments to acquire premises and equipment (750) (2,454)
Proceeds from sale of other real estate owned 471 1,796
Net cash (used) provided by investing activities (499,110) 48,722
Financing activities    
Increase in noninterest-bearing deposits, net 54,024 47,352
(Decrease) increase in interest-bearing deposits, net (12,140) 80,247
Proceeds from securities sold under agreements to repurchase, net 422 142
Proceeds from stock options exercised 157 288
Payments for repurchase of common stock (19,418) (21,430)
Payments of common dividends (13,807) (13,468)
Net cash provided by financing activities 9,238 93,131
Net (decrease) increase in cash and cash equivalents (448,344) 178,446
Cash and cash equivalents at beginning of period 677,439 456,561
Cash and cash equivalents at end of period 229,095 635,007
Supplemental disclosure -- cash flow information    
Cash paid for interest 1,728 2,508
Cash paid for income taxes 4,090 11,989
Supplemental transactions -- noncash items    
Transfer of loans to other real estate owned 438 1,147
Loans originated to finance other real estate owned 0 59
Increase in accumulated other comprehensive loss, net of taxes $ (17,479) $ (730)