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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 16,110 $ 17,724
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of securities (390) (28)
Loss on disposal of fixed assets   28
Loss (gain) on sale on foreclosed assets 2 (37)
Writedowns of foreclosed assets   69
Stock compensation costs 235 267
Provision for loan and lease losses 4,000 700
Depreciation and amortization 1,540 1,496
Net amortization on securities premiums and discounts 2,227 2,107
Accretion of discounts for loans acquired and net deferred loan fees (331) (505)
Increase in cash surrender value of life insurance policies (687) (1,027)
Amortization of core deposit intangible 537 537
Increase in interest receivable and other assets (2,241) (1,213)
Increase (decrease) in other liabilities 869 (2,065)
Deferred income tax benefit (230) (27)
Increase in equity securities (447) (232)
Net amortization of partnership investment 571 900
Net cash provided by operating activities 21,765 18,694
Cash flows from investing activities:    
Maturities and calls of securities available for sale 6,195 4,459
Proceeds from sales of securities available for sale 20,298 22,180
Purchases of securities available for sale (59,578) (72,330)
Principal paydowns on securities available for sale 47,263 42,288
Net purchases of FHLB stock   (833)
Loan originations and payments, net (446,178) (46,315)
Purchases of premises and equipment, net (1,794) (330)
Proceeds from sale premises and equipment   10
Proceeds from sales of foreclosed assets 32 7,955
Purchase of bank owned life insurance (182) (292)
Liquidation of bank-owned life insurance 39 261
Net cash used in investing activities (433,905) (42,947)
Cash flows from financing activities:    
Increase in deposits 338,380 62,758
Increase (decrease) in borrowed funds 143,000 (47,600)
Increase in repurchase agreements 15,738 7,808
Cash dividends paid (6,097) (5,513)
Repurchases of common stock (2,562)  
Stock options exercised 215 458
Net cash provided by financing activities 488,674 17,911
Increase (decrease) in cash and cash equivalents 76,534 (6,342)
Cash and cash equivalents, beginning of year 80,077 74,132
Cash and cash equivalents, end of year 156,611 67,790
Supplemental disclosure of cash flow information:    
Interest paid 3,941 6,917
Income taxes paid   7,600
Supplemental noncash disclosures:    
Real estate acquired through foreclosure $ 2,127 27
Operating right-of-use asset pursuant to adoption on ASU 2016-02   9,712
Operating lease liability pursuant to adoption of ASU 2016-02   $ 10,336