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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Net income $ 32,888 $ 20,691 $ 20,004
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Gain on sale of securities, net (98) (23) 0
Loss on sale of premises and equipment 22 0 2
Depreciation and amortization of premises 3,147 2,986 2,283
Amortization of software 1,104 1,019 911
Intangible asset amortization 48 60 70
Amortization of investment security premium, net of discount accretion 19 (15) 199
Unrealized (gain) loss on marketable equity securities (61) (911) 625
Deferred tax expense 555 711 3,014
Stock-based compensation 943 832 816
Deferral of loan fees and amortization, net of costs 6,650 598 331
Provision (benefit) for loan losses 2,432 (1,175) (500)
Benefit for purchased receivables (21) (96) (10)
Additions to home mortgage servicing rights carried at fair value (4,824) (3,707) (3,641)
Change in fair value of home mortgage servicing rights carried at fair value 5,526 2,608 125
Change in fair value of commercial servicing rights carried at fair value 99 (6) (972)
Gain on sale of loans (46,258) (19,813) (14,822)
Proceeds from the sale of loans held for sale 1,263,325 670,986 551,607
Origination of loans held for sale (1,295,411) (684,297) (527,516)
Gain on sale of other real estate owned (391) (380) (3)
Impairment on equity method investment 0 0 804
Net changes in assets and liabilities:      
(Increase) decrease in accrued interest receivable (3,467) 305 (432)
(Increase) decrease in other assets (15,096) 6,395 (2,512)
Increase (decrease) in other liabilities 12,415 2,411 (5,233)
Net Cash (Used) Provided by Operating Activities (36,454) (821) 25,150
Investment in securities:      
Purchases of investment securities available for sale (160,423) (132,104) (88,139)
Purchases of marketable equity securities (1,552) 0 (2,992)
Purchases of FHLB stock (5,931) (880) 0
Purchases of investment securities held to maturity (10,000) 0 0
Proceeds from sales/calls/maturities of securities available for sale 189,323 130,482 122,644
Proceeds from sales of marketable equity securities 601 229 783
Proceeds from redemption of FHLB stock 5,518 843 14
Decrease (increase) in purchased receivables, net 10,472 (9,871) 7,835
Increase in loans, net (408,365) (58,879) (31,852)
Proceeds from sale of other real estate owned 797 1,299 1,522
Investment in other real estate owned 0 0 (144)
Purchases of software (416) (721) (517)
Proceeds from sales of premises and equipment 0 0 3
Purchases of premises and equipment (2,849) (2,318) (3,511)
Net Cash (Used) Provided by Investing Activities (382,825) (71,920) 5,646
Financing Activities:      
Increase (decrease) in deposits 452,630 144,263 (30,195)
(Decrease) increase in securities sold under repurchase agreements 0 (34,278) 6,532
Proceeds from borrowings 110,610 1,817 0
Repayments of borrowings (104,684) (167) (121)
Proceeds from the issuance of common stock 84 73 243
Repurchase of common stock (9,976) (12,569) (494)
Cash dividends paid (8,844) (8,512) (7,064)
Net Cash Provided (Used) by Financing Activities 439,820 90,627 (31,099)
Net Change in Cash and Cash Equivalents 20,541 17,886 (303)
Cash and Cash Equivalents at Beginning of Year 95,424 77,538 77,841
Cash and Cash Equivalents at End of Year 115,965 95,424 77,538
Supplemental Information:      
Income taxes paid 7,790 1,658 1,766
Interest paid 6,009 5,640 2,971
Noncash commitments to invest in Low Income Housing Tax Credit Partnerships 0 11,267 0
Transfer of loans to other real estate owned 652 0 686
Non-cash lease liability arising from obtaining right of use assets 370 1,234  
Cash dividends declared but not paid $ 98 $ 89 $ 72