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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 20,689 $ 7,510
Adjustments to reconcile net income to cash provided by (used for) operating activities:    
Provision for loan losses (2,200) 16,200
Depreciation and other amortization 1,092 1,059
Accretion and amortization of securities discounts and premium, net 518 273
Loss on sale of real estate owned 380
Gain on sale of fixed assets (10)
Net change in operating leases 165 112
Compensation expense related to stock options and restricted stock grants 778 719
Gain on sale of loans held for sale (8,153) (8,031)
Loans originated and held for sale (303,889) (254,492)
Proceeds from sale of loans held for sale 335,872 245,400
Increase in cash surrender value of bank owned life insurance (598) (540)
Decrease (increase) in deferred tax asset (15,341) (35)
Decrease (increase) in other assets 2,589 (6,975)
Decrease in other liabilities 1,949 880
Net cash provided by (used for) operating activities 33,841 2,080
Increase (decrease) in cash realized from:    
Increase in loans, net (111,672) (94,516)
Purchase of property and equipment (11,105) (2,641)
Purchase of investment securities:    
Available for sale (10,338) (11,373)
Other (1,000) (1,275)
Payments and maturities, calls and repayments of investment securities:    
Available for sale 12,526 9,193
Other investments 1,865 5,614
Purchase of bank owned life insurance (7,500)
Proceeds from sale of fixed assets 50
Proceeds from sale of other real estate owned 788
Net cash used for investing activities (126,386) (94,998)
Increase (decrease) in cash realized from:    
Increase in deposits, net 168,134 312,519
Decrease in Federal Home Loan Bank advances and other borrowings, net (25,000) (109,973)
Proceeds from the exercise of stock options 2,521 962
Net cash provided by financing activities 145,655 203,508
Net increase in cash and cash equivalents 53,110 110,590
Cash and cash equivalents at beginning of the period 100,687 127,816
Cash and cash equivalents at end of the period 153,797 238,406
Cash paid for    
Interest 3,843 11,008
Income taxes 15,342
Schedule of non-cash transactions    
Foreclosure of other real estate 366
Unrealized gain (loss) on securities, net of income taxes $ (623) $ 1,103