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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Consolidated net income $ 35,625 $ 29,590
Adjustments to reconcile consolidated net income to net cash provided (used) by operating activities    
Provision for loan losses 1,012 6,631
Deferred income taxes provision (1,056) (902)
Depreciation and amortization of premises and equipment 3,180 3,155
Loss on disposal of premises and equipment 29 4
Net amortization of securities 3,999 3,101
Net realized gains on sales of securities (28) (425)
Gains on mortgage loans sold, net (7,929) (6,808)
Stock-based compensation expense 986 904
Loss (gain) on other real estate 15 (652)
Gain on sale of repossessed assets (2) (2)
Increase in value of life insurance and annuity contracts (766) (635)
Mortgage loans originated for resale (167,429) (169,441)
Proceeds from sale of mortgage loans 184,296 157,822
Gain on lease modification 0 (29)
Right of use asset amortization 1,299 912
Change in    
Accrued interest receivable (681) (2,040)
Other assets (4,598) (2,454)
Accrued interest payable (860) (554)
Other liabilities 5,917 6,241
TOTAL ADJUSTMENTS 17,384 (5,172)
NET CASH PROVIDED BY OPERATING ACTIVITIES 53,009 24,418
INVESTING ACTIVITIES    
Purchases (403,894) (324,197)
Sales 39,652 24,028
Maturities, prepayments and calls 120,378 152,591
Purchase of restricted equity securities 0 (409)
Net increase in loans (94,979) (202,994)
Purchase of buildings, leasehold improvements, and equipment (7,671) (1,734)
Proceeds from sale of other assets 83 4
Proceeds from sale of other real estate 167 1,311
Purchase of life insurance and annuity contracts (15,000) (4,662)
Increase in other investments (2,000) 0
NET CASH USED IN INVESTING ACTIVITIES (363,264) (356,062)
FINANCING ACTIVITIES    
Net change in deposits - non-maturing 421,953 429,271
Net change in deposits - time (8,052) (13,294)
Net change in Federal Home Loan Bank Advances (3,638) (6,430)
Change in escrow balances (2,148) 10,794
Issuance of common stock related to exercise of stock options 573 347
Issuance of common stock pursuant to dividend reinvestment plan 11,188 10,056
Cash dividends paid on common stock (14,910) (13,013)
NET CASH PROVIDED BY FINANCING ACTIVITIES 404,966 417,731
NET CHANGE IN CASH AND CASH EQUIVALENTS 94,711 86,087
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 338,856 159,770
CASH AND CASH EQUIVALENTS - END OF PERIOD 433,567 245,857
Supplemental disclosure of cash flow information:    
Interest 9,259 12,860
Taxes 13,327 10,256
Change in fair value of securities available-for-sale, net of taxes of $3,019 and $2,341 for the nine months ended September 30, 2021 and 2020, respectively (8,530) 6,615
Non-cash transfers from loans to other real estate 182 992
Non-cash transfers from loans to other assets $ 81 $ 5