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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net income $ 18,781 $ 22,146
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:    
Depreciation and amortization of premises and equipment 2,430 2,361
Amortization of software 865 881
Intangible asset amortization 11 19
Amortization of investment security premium, net of discount accretion 376 496
Unrealized loss on marketable equity securities 445 1,199
Stock-based compensation 619 568
Deferred loan fees and amortization, net of costs (324) (3,570)
Provision (benefit) for credit losses 2,957 (40)
Additions to home mortgage servicing rights carried at fair value (2,440) (3,378)
Change in fair value of home mortgage servicing rights carried at fair value 1,679 (607)
Change in fair value of commercial servicing rights carried at fair value 144 123
Gain on sale of loans (6,366) (12,306)
Proceeds from the sale of loans held for sale 267,165 539,984
Origination of loans held for sale (296,412) (503,384)
Gain on sale of other real estate owned (929) 0
Impairment on other real estate owned 123 0
Proceeds from keyman life insurance 0 (2,002)
Net changes in assets and liabilities:    
(Increase) in accrued interest receivable (3,265) (1,649)
Decrease in other assets 1,903 5,123
Increase (Decrease) in other liabilities 1,127 (5,123)
Net Cash (Used) Provided by Operating Activities (11,111) 40,841
Investment in securities:    
Purchases of investment securities available for sale (6,000) (274,263)
Purchases of marketable equity securities (324) (3,933)
Purchases of FHLB stock (5,441) (728)
Purchases of investment securities held to maturity 0 (16,750)
Proceeds from sales/calls/maturities of securities available for sale 35,528 7,000
Proceeds from redemption of FHLB stock 2,923 15
(Increase) decrease in purchased receivables, net (14,584) 2,202
(Increase) decrease in loans, net (218,121)  
(Increase) decrease in loans, net   11,230
Proceeds from sale of other real estate owned 929 0
Proceeds from keyman life insurance 0 2,002
Purchases of software (104) (14)
Purchases of premises and equipment (5,529) (2,128)
Net Cash (Used) by Investing Activities (210,723) (275,367)
Financing Activities:    
Increase in deposits 40,719 17,704
Increase (decrease) in borrowings 49,686  
Increase (decrease) in borrowings   (309)
Repurchase of common stock (6,539) (14,157)
Cash dividends paid (10,154) (7,618)
Net Cash Provided (Used) by Financing Activities 73,712 (4,380)
Net Change in Cash and Cash Equivalents (148,122) (238,906)
Cash and Cash Equivalents at Beginning of Period 259,350 645,827
Cash and Cash Equivalents at End of Period 111,228 406,921
Supplemental Information:    
Income taxes paid 2,031 640
Interest paid 18,340 2,678
Noncash commitments to invest in Low Income Housing Tax Credit Partnerships 14,273 0
Transfer of loans to other real estate owned 273 0
Non-cash lease liability arising from obtaining right of use assets 423 0
Cash dividends declared but not paid $ 106 $ 75