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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net earnings $ 39,806 $ 27,402 $ 26,279
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 4,358 4,117 3,886
Amortization 1,154 1,349 1,378
Deferred taxes (143) (3,056) (534)
Premium amortization, net of discount accretion 4,368 3,988 3,820
Net realized loss on securities transactions 0 0 22
Gain on sale of loans (5,528) (6,834) (2,850)
(Reversal) Provision for credit losses (1,700) 13,200 1,250
Origination of loans held for sale (118,500) (161,169) (76,011)
Proceeds from loans held for sale 125,441 164,829 78,288
Write-down of other real estate and repossessed assets 6 358 343
Net gain on sale of premises, equipment, other real estate owned and other assets (23) 37 78
Stock based compensation 733 749 663
Gain on BOLI death benefits (277) 0 0
Net change in accrued interest receivable and other assets (8,565) (3,908) (16,698)
Net change in accrued interest payable and other liabilities 2,414 1,459 12,132
Net cash (used in) provided by operating activities 43,544 42,521 32,046
Securities available for sale:      
Purchases (1,223,595) (662,046) (706,238)
Proceeds from Sales 0 0 3,957
Proceeds from maturities and principal repayments 1,079,462 657,653 730,272
Securities held to maturity:      
Purchases (15,057) 0 0
Proceeds from maturities and principal repayments 890 3,024 5,646
Net originations of loans (43,148) (159,357) (46,940)
Purchases of premises and equipment (2,896) (5,902) (5,090)
Proceeds from BOLI death benefit 464 0 0
Proceeds from sale of premises, equipment, other real estate owned and other assets 1,202 860 653
Net cash provided by investing activities (202,678) (165,768) (17,740)
Cash flows from financing activities      
Net change in deposits 384,437 329,586 85,324
Net change in securities sold under agreements to repurchase (1,480) 4,531 (1,128)
Proceeds from FHLB advances 160,000 390,000 260,500
Repayment of FHLB advances (221,601) (336,017) (320,518)
Proceeds from line of credit 10,000 30,000 0
Repayment of line of credit (17,000) (18,000) 0
Proceeds from issuance of debentures 0 10,000 0
Repayments of debentures 0 (1,000) (2,000)
Purchase of treasury stock 0 (16,927) (10,140)
Exercise of stock options 2,019 638 925
Cash dividends paid (9,427) (8,487) (8,065)
Net cash used in financing activities 306,948 384,324 4,898
Net change in cash and cash equivalents 147,814 261,077 19,204
Cash and cash equivalents at beginning of period 351,791 90,714 71,510
Cash and cash equivalents at end of period 499,605 351,791 90,714
Supplemental disclosures of cash flow information      
Interest paid 7,315 13,898 23,700
Income taxes paid 9,650 8,245 5,536
Supplemental schedule of noncash investing and financing activities      
Cash dividends accrued 2,424 2,188 2,076
Lease right of use assets obtained in exchange for lease liabilities 1,085 1,737 11,554
Available for sale securities transferred to held to maturity 172,292 0 0
Transfer of loans to other real estate owned and repossessed assets 509 666 340
Stock dividend $ 35,947 $ 0 $ 0