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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net earnings $ 17,487 $ 18,910
Adjustments to reconcile net earnings to net cash provided from operating activities:    
Depreciation 3,045 2,914
Amortization 1,010 1,040
Deferred taxes (2,949) (1,219)
Premium amortization, net of discount accretion 2,948 2,888
Net realized loss on securities transactions 0 22
Gain on sale of loans (4,811) (2,070)
Provision for credit losses 13,200 1,250
Origination of loans held for sale (121,628) (55,265)
Proceeds from loans held for sale 119,659 55,289
Write-down of other real estate and repossessed assets 358 0
Net gain on sale of premises, equipment, other real estate owned and other assets 103 19
Stock based compensation 494 493
Net change in accrued interest receivable and other assets (2,607) (13,943)
Net change in accrued interest payable and other liabilities 1,897 10,495
Net cash provided by operating activities 28,206 20,823
Securities available for sale:    
Purchases (333,838) (5,120)
Proceeds from sales 0 3,957
Proceeds from maturities and principal repayments 342,452 21,182
Securities held to maturity:    
Proceeds from maturities and principal repayments 3,024 4,692
Net originations of loans (248,409) (76,538)
Net purchases of premises and equipment (5,148) (3,643)
Net proceeds from sale of premises, equipment, other real estate owned and other assets 509 318
Net cash used in investing activities (241,410) (55,152)
Cash flows from financing activities    
Net change in deposits 266,278 91,833
Net change in securities sold under agreements to repurchase 9,420 (865)
Proceeds from FHLB advances 290,000 156,000
Repayment of FHLB advances (246,013) (210,513)
Proceeds from line of credit 25,000 0
Repayment of line of credit (18,000) 0
Proceeds from issuance of debentures 10,000 0
Repayments of debentures (500) (1,500)
Purchase of treasury stock (14,110) (10,067)
Exercise of stock options 72 553
Cash dividends (6,286) (3,974)
Net cash provided by financing activities 315,861 21,467
Net change in cash and cash equivalents 102,657 (12,862)
Cash and cash equivalents at beginning of period 90,714 71,510
Cash and cash equivalents at end of period 193,371 58,648
Supplemental disclosures of cash flow information    
Interest paid 11,456 18,269
Income taxes paid 5,545 4,011
Supplemental schedule of noncash investing and financing activities    
Cash dividends accrued 2,201 2,077
Transfer of loans to other real estate owned and repossessed assets $ 221 $ 137