XML 80 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 7,256 $ 7,763 $ 11,273 $ 16,459  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for loan losses 2,675 955 8,822 555  
Depreciation and amortization     3,269 2,981  
Stock-based compensation expense 506 518 932 944  
Income on bank-owned life insurance, net (150) (162) (303) (324)  
Net gains on sales of debt securities 0 (147) (100) (146)  
Mortgage loans originated for sale     (23,228) (6,207)  
Proceeds from mortgage loans sold     22,837 5,637  
Net gains on sales of loans     (485) (105)  
Net losses (gains) on equity securities (66) (77) 132 (263)  
Changes in:          
Increase in other assets     (7,216) (5,860)  
Decrease in other liabilities     (1,840) (309)  
Net cash provided by operating activities     14,093 13,362  
Cash flows from investing activities:          
Proceeds from sales of debt securities     2,627 13,623  
Purchase of debt securities     (6,350) (59,875)  
Proceeds from maturities, calls and pay-downs of debt securities     27,325 22,714  
Net purchases of equity securities     (319) (717)  
Net proceeds from the sales of FHLB capital stock     2,470 3,781  
Net increase in loans     (610,795) (26,904)  
Additions to premises and equipment, net     (3,761) (4,252)  
Net cash used in investing activities     (588,803) (51,630)  
Cash flows from financing activities:          
Net increase in deposits     861,378 265,366  
Net decrease in borrowed funds     (92,008) (100,008)  
Cash dividends paid, net of dividend reinvestment plan     (3,543) (3,170)  
Proceeds from issuance of common stock     55 36  
Net settlement for employee taxes on restricted stock and options     (224) (353)  
Net proceeds from stock option exercises     21 156  
Net cash provided by financing activities     765,679 162,027  
Net increase in cash and cash equivalents     190,969 123,759  
Cash and cash equivalents at beginning of period     63,794 63,120 $ 63,120
Cash and cash equivalents at end of period $ 254,763 $ 186,879 $ 254,763 $ 186,879 $ 63,794