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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 income $ 20,884 $ 18,081
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 1,362 1,279
Amortization 404 468
Share-based compensation earned 218 163
Share-based board compensation earned 47 66
(Gain) Loss on other assets owned 5 (16)
Net (accretion) amortization on securities AFS 2,130 963
Gain on sale of securities AFS (1,348) (5)
Provision for loan losses 3,618 1,432
Deferred income tax (benefit) expense (127) (308)
Net (increase) decrease in loans HFS (18,269) (1,209)
Net (increase) decrease in accrued interest receivable (1,366) 85
Net (increase) decrease in BOLI (425) (406)
Net increase (decrease) in accrued interest payable (417) 168
Net increase (decrease) in accrued income taxes payable 462 (252)
Other operating activities, net 1,465 477
Net cash provided by (used in) operating activities 8,643 20,986
Activity in securities AFS:    
Sales 93,376 34,957
Maturities, prepayments, and calls 75,305 49,267
Purchases (293,503) (109,356)
Purchase of nonmarketable equity securities (2,095) (48)
Net (increase) decrease in loans HFI (211,734) (86,383)
Proceeds from sales of foreclosed assets 330 902
Purchases of premises and equipment (4,113) (1,402)
Net cash provided by (used in) investing activities (342,434) (112,063)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in deposits 472,820 31,268
Proceeds from other borrowed funds 50,000 0
Repayments of other borrowed funds (50,000) 0
Redemption of junior subordinated debentures 0 (11,341)
Repurchase of common stock (122) 0
Proceeds from exercise of stock options 8 80
Proceeds from initial public offering, net 0 26,812
Cash dividends (1,319) (1,326)
Net cash provided by (used in) financing activities 471,387 45,493
Net change in cash and cash equivalents 137,596 (45,584)
Cash and cash equivalents - beginning of period 133,292 151,906
Cash and cash equivalents - end of period 270,888 106,322
Cash paid during the year for:    
Interest 6,930 7,477
Income taxes 4,387 4,649
Initial measurement and recognition of operating lease assets in exchange for lease liabilities 0 4,954
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 23 $ 1,609