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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net earnings $ 27,402 $ 26,279 $ 20,596
Adjustments to reconcile net earnings to net cash provided from operating activities:      
Depreciation 4,117 3,886 3,400
Amortization 1,349 1,378 1,228
Deferred taxes (3,056) (534) 68
Premium amortization, net of discount accretion 3,988 3,820 4,210
Net realized loss on securities transactions 0 22 50
Gain on sale of loans (6,834) (2,850) (2,308)
Gain on sale of branch operations 0 0 (830)
Provision for credit losses 13,200 1,250 2,250
Origination of loans held for sale (161,169) (76,011) (70,841)
Proceeds from loans held for sale 164,829 78,288 73,250
Write-down of other real estate and repossessed assets 358 343 407
Net loss (gain) on sale of premises, equipment, other real estate owned and other assets 37 78 (133)
Stock based compensation 749 663 592
Net change in accrued interest receivable and other assets (3,908) (16,698) (5,955)
Net change in accrued interest payable and other liabilities 1,459 12,132 2,230
Net cash provided by operating activities 42,521 32,046 28,214
Securities available for sale:      
Purchases (662,046) (706,238) (429,762)
Proceeds from sales 0 3,957 411,796
Proceeds from maturities and principal repayments 657,653 730,272 27,093
Securities held to maturity:      
Proceeds from maturities and principal repayments 3,024 5,646 9,331
Cash paid in connection with acquisitions 0 0 (6,423)
Net originations of loans (159,357) (46,940) (146,531)
Purchases of premises and equipment (5,902) (5,090) (2,833)
Proceeds from sale of premises, equipment, other real estate owned and other assets 860 653 3,668
Net cash used in investing activities (165,768) (17,740) (108,734)
Cash flows from financing activities      
Net change in deposits 329,586 85,324 13,739
Net change in securities sold under agreements to repurchase 4,531 (1,128) (651)
Proceeds from FHLB advances 390,000 260,500 391,000
Repayment of FHLB advances (336,017) (320,518) (331,517)
Proceeds from line of credit 30,000 0 0
Repayment of line of credit (18,000) 0 0
Proceeds from issuance of debentures 10,000 0 0
Repayments of debentures (1,000) (2,000) (1,000)
Purchase of treasury stock (16,927) (10,140) (4,265)
Exercise of stock options 638 925 327
Cash dividends (8,487) (8,065) (7,031)
Net cash provided by financing activities 384,324 4,898 60,602
Net change in cash and cash equivalents 261,077 19,204 (19,918)
Cash and cash equivalents at beginning of period 90,714 71,510 91,428
Cash and cash equivalents at end of period 351,791 90,714 71,510
Supplemental disclosures of cash flow information      
Interest paid 13,898 23,700 18,813
Income taxes paid 8,245 5,536 5,218
Supplemental schedule of noncash investing and financing activities      
Cash dividends accrued 2,188 2,076 2,013
Transfer of loans to other real estate owned and repossessed assets 666 340 1,304
Common stock issued in acquisitions 0 0 29,568
Acquired banks      
Securities held to maturity:      
Cash received from acquired banks $ 0 $ 0 $ 24,927