XML 109 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net income $ 29,220 $ 29,290
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 2,799 6,901
Provision for foreclosed asset losses 0 285
Depreciation and amortization 5,225 5,185
Accretion and amortization 252 1,305
Other gains, net 40 (788)
Net gain on sales of loans (23,521) (19,703)
Proceeds from sales of loans held for sale 653,548 555,325
Loans originated for sale (640,680) (544,690)
Earnings on bank-owned life insurance (1,293) (1,282)
Stock based compensation 853 0
Net change in:    
Accrued interest receivable and other assets (2,336) (8,187)
Accrued expenses and other liabilities 6,377 3,279
Net cash from operating activities 30,484 26,920
Activity in securities available for sale:    
Purchases (489,032) (539,091)
Sales 52,495 102,332
Maturities, prepayments, and calls 139,255 364,909
Maturities, prepayments, and calls of held to maturity securities 0 14,675
Loan originations and principal collections, net 5,572 (126,732)
Net cash received in business combinations 78,171 0
Purchases of premises and equipment, net (3,997) (3,134)
Proceeds from sales of premises and equipment 208 126
Proceeds from sales of foreclosed assets 3,835 2,823
Net cash from investing activities (213,493) (184,092)
Cash flows from financing activities:    
Net change in deposits 33,227 123,373
Net change in short-term borrowings 19,460 2,155
Proceeds from common stock issuance, net 51,392 0
Payments to tax authorities for stock-based compensation (351) 0
Proceeds from notes payable and other borrowings 0 13,115
Payments made on notes payable and other borrowings (7,530) 0
Cash dividends on common stock (1,079) (30,045)
Net cash from financing activities 95,119 108,598
Net change in cash and cash equivalents (87,890) (48,574)
Beginning cash and cash equivalents 245,989 294,563
Ending cash and cash equivalents 158,099 245,989
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 28,125 22,024
Income taxes paid 6,474 2,729
Supplemental schedule of noncash investing and financing activities:    
Loans transferred to foreclosed assets 2,452 6,473
Financed foreclosed asset sales $ 0 $ 4,019