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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 17,360 $ 20,336
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,671 5,506
Amortization of intangible assets 1,220 1,334
Provision for Loan and Lease Losses 443 663
Stock compensation expense 894 904
Deferred income tax expense 1,293 1,739
Increase in cash surrender value of bank owned life insurance (1,049) (949)
Net losses from sale and write-downs of other real estate owned and other repossessed assets 280  
Net gains from mortgage banking (568) (504)
Origination of loans held for sale (25,311) (18,990)
Proceeds from sales of loans held for sale 27,194 20,259
Net (gain) loss from sale/disposal of fixed assets (1,647) 66
Net change in:    
Accrued interest receivable 200 (1,393)
Accrued interest payable (604) 1,300
Other assets (514) (5,516)
Other liabilities (243) (3,426)
Net cash provided by operating activities 23,619 21,329
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns 22,958 20,491
Purchases (117,389) (78,096)
Proceeds from maturities, calls and paydowns 151,172 1,293
Proceeds from sales of other investments 135 2,053
Purchases of other investments (452) (919)
Net increase in loans and leases (133,763) (84,897)
Proceeds from sale of fixed assets 4,698 623
Purchases of premises and equipment (4,017) (3,059)
Proceeds from sale of other real estate owned 893  
Net cash used in investing activities (75,765) (142,511)
Cash flows from financing activities:    
Net increase in deposits 48,840 122,566
Net (decrease) increase in securities sold under agreements to repurchase (346) 221
Proceeds from borrowings 4,000 26,000
Repayment of borrowings (4,000) (52,585)
Cash dividends paid (2,714) (2,711)
Issuance of common stock 43 165
Restricted shares withheld for taxes (145)  
Repurchases of common stock (2,968)  
Net cash provided by financing activities 42,710 93,656
Net change in cash and cash equivalents (9,436) (27,526)
Cash and cash equivalents, beginning of period 352,271 266,424
Cash and cash equivalents, end of period 342,835 238,898
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 57,136 36,417
Net cash paid during the period for income taxes 4,295 8,577
Noncash investing and financing activities:    
Recognition of operating lease assets in exchange for lease liabilities 2,913 1,751
Acquisition of real estate through foreclosure 179 $ 272
Acquisition of other repossessed assets 2,631  
Financed sales of other repossessed assets $ 463