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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net earnings $ 8,277 $ 10,738
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 1,018 1,069
Amortization 194 219
Deferred taxes (1,157) (4,188)
Premium amortization, net of discount accretion 760 1,399
Net realized gain on sales of securities available for sale (93) 0
Gain on sale of loans (314) (905)
Provision for (reversal of) credit losses 0 (1,250)
Origination of loans held for sale (10,488) (25,758)
Proceeds from loans held for sale 12,698 29,626
Net gain on sale of premises, equipment, other real estate owned and other assets 0 (39)
Stock based compensation 148 156
Net change in accrued interest receivable and other assets (930) 6,792
Net change in accrued interest payable and other liabilities 1,599 804
Net cash provided by operating activities 11,712 18,663
Securities available for sale:    
Proceeds from Sales 7,239 0
Proceeds from maturities and principal repayments 7,396 14,431
Securities held to maturity:    
Purchases 0 (915,587)
Proceeds from maturities and principal repayments 32,305 603,937
Net originations of loans 5 (106,123)
Purchases of premises and equipment (2,184) (1,685)
Proceeds from sale of premises, equipment, other real estate owned and other assets 0 72
Net cash provided by (used in) investing activities 44,761 (404,955)
Cash flows from financing activities    
Net change in deposits (57,786) 126,920
Net change in securities sold under agreements to repurchase 6,117 (3,061)
Proceeds from FHLB advances 1,585,000 0
Repayment of FHLB advances (1,535,000) (40,000)
Proceeds from line of credit 0 1,000
Repayment of line of credit 0 (6,000)
Proceeds from issuance of subordinated debt 0 34,336
Purchase of treasury stock (744) (1,993)
Exercise of stock options 225 0
Cash dividends paid (2,627) (2,424)
Net cash (used in) provided by financing activities (4,815) 108,778
Net change in cash and cash equivalents 51,658 (277,514)
Cash and cash equivalents at beginning of period 106,467 499,605
Cash and cash equivalents at end of period 158,125 222,091
Supplemental disclosures of cash flow information    
Interest paid 10,467 1,460
Supplemental schedule of noncash investing and financing activities    
Cash dividends accrued 2,744 2,656
Lease right of use assets obtained in exchange for lease liabilities 568 0
Contributions from noncontrolling interest $ 0 $ 598