XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 28,810 $ 12,698
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses (1,918) 19,367
Depreciation and amortization 3,223 3,257
Accretion and amortization 2,281 1,130
Other gains, net (8) (2,441)
Net gain on sales of loans (28,260) (26,337)
Proceeds from sales of loans held for sale 869,253 567,294
Loans originated for sale (815,446) (584,696)
Earnings on bank-owned life insurance (630) (674)
Stock based compensation 822 341
Change in valuation of mortgage servicing rights (936) 0
Net change in:    
Accrued interest receivable and other assets 4,299 (16,859)
Accrued expenses and other liabilities 7,716 18,340
Net cash from operating activities 69,206 (8,580)
Activity in securities available for sale:    
Purchases (56,565) (121,254)
Sales 0 94,514
Maturities, prepayments, and calls 71,979 30,588
Loan originations and principal collections, net (83,035) (193,060)
Cash paid for acquisition 0 (687)
Purchases of premises and equipment, net (1,191) (2,402)
Proceeds from sales of premises and equipment 22 87
Proceeds from sales of foreclosed assets 693 1,689
Net cash from investing activities (68,097) (190,525)
Cash flows from financing activities:    
Net change in deposits 184,144 250,980
Net change in short-term borrowings (22,660) (27,600)
Proceeds from notes payable & other borrowings 0 75,000
Payments to tax authorities for stock-based compensation (106) (129)
Payments made on notes payable and other borrowings (75,000) 0
Cash dividends on common stock (2,167) (1,083)
Payments to repurchase common stock (1,678) (61)
Net cash from financing activities 82,533 297,107
Net change in cash and cash equivalents 83,642 98,002
Beginning cash and cash equivalents 300,307 158,099
Ending cash and cash equivalents 383,949 256,101
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 6,623 9,623
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 484 1,088
Measurement period acquisition adjustment 0 0
Additions to mortgage servicing rights $ 5,992 $ 3,048