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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income   $ 38,866 $ 40,331
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation   3,619 2,701
Provision for credit losses $ 11,200 8,284 6,713
Stock-based compensation expense   1,296 1,361
Deferred compensation expense accrued   1,939 2,302
Gains on other real estate owned, net     (389)
Amortization of premiums on securities, net   575 1,092
Caplet amortization   462 314
Mark to market gains on unhedged derivatives, net   (1,338) (91)
Securities losses, net     88
Loans originated for sale   (53,057) (115,649)
Proceeds on sales of loans   60,235 117,469
Gains on sales of residential real estate loans (809) (1,302) (2,521)
Gains on sales of government guaranteed portions of loans   (19)  
(Gains) losses on sales and disposals of premises and equipment   60 (22)
Amortization of intangibles 787 1,280 1,016
Accretion of acquisition fair value adjustments, net   (1,813) (795)
Increase in cash value of bank-owned life insurance   (696) (922)
Increase in other assets   (19,837) (14,322)
Increase (decrease) in other liabilities   15,076 (5,941)
Net cash provided by operating activities   53,630 32,735
CASH FLOWS FROM INVESTING ACTIVITIES      
Net decrease in federal funds sold   10,220 7,740
Net (increase) decrease in interest-bearing deposits at financial institutions   38,044 (844)
Proceeds from sales of other real estate owned     1,407
Activity in securities portfolio:      
Purchases   (134,700) (108,565)
Calls, maturities and redemptions   18,111 70,539
Paydowns   24,166 40,395
Sales   111,375 23,874
Activity in restricted investment securities:      
Purchases   (22,514) (2,280)
Redemptions   2,159 46
Net increase in loans/leases originated and held for investment   (314,744) (170,969)
Purchase of premises and equipment   (23,965) (4,773)
Proceeds from sales of premises and equipment   50 22
Net cash acquired from acquisition   144,973  
Net cash used in investing activities   (146,825) (143,408)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in deposit accounts   (178,688) 89,798
Net increase (decrease) in short-term borrowings   (2,730) 1,640
Activity in Federal Home Loan Bank advances:      
Net change in short-term and overnight advances   385,000 25,000
Prepayments   (16,000)  
Activity in other borrowings:      
Prepayments of subordinated notes     (5,000)
Payment of cash dividends on common stock   (1,874) (1,896)
Proceeds (payment) from issuance of common stock, net   (193) 200
Repurchase and cancellation of shares   (37,431) (4,800)
Net cash provided by financing activities   148,084 104,942
Net increase (decrease) in cash and due from banks   54,889 (5,731)
Cash and due from banks, beginning   37,490 61,329
Cash and due from banks, ending 92,379 92,379 55,598
Supplemental disclosure of cash flow information, cash payments (receipts) for:      
Interest   13,779 12,257
Income/franchise taxes   (190) 21,310
Supplemental schedule of noncash investing activities:      
Change in accumulated other comprehensive income, unrealized losses on securities available for sale and derivative instruments, net   (51,626) 2,427
Transfers of loans to other real estate owned   150 2,812
Due to broker for purchases of securities     1,000
Decrease in the fair value of back-to-back interest rate swap assets and liabilities   (131,410) (31,297)
Dividends payable   1,059 $ 951
ASSETS      
Cash and due from banks 171,844 171,844  
Interest-bearing deposits at financial institutions 17,134 17,134  
Securities 143,017 143,017  
Loans/leases receivable, net 801,697 801,697  
Bank-owned life insurance 32,100 32,100  
Premises and equipment 16,257 16,257  
Restricted investment securities 2,220 2,220  
Other real estate owned 55 55  
Intangibles 10,264 10,264  
Other assets 23,685 23,685  
Total assets acquired 1,218,273 1,218,273  
LIABILITIES      
Deposits 1,076,573 1,076,573  
FHLB advances 16,000 16,000  
Subordinated debentures 19,621 19,621  
Junior subordinated debentures 10,310 10,310  
Other liabilities 15,225 15,225  
Total liabilities assumed 1,137,729 1,137,729  
Net assets acquired $ 80,544 80,544  
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]      
Cash paid   26,871  
Common stock   117,214  
Total consideration paid   144,085  
Goodwill   63,541  
Net cash paid   $ 144,973