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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 14,278 $ 15,160
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses (2,085) 89
Depreciation and amortization 1,705 1,617
Accretion and amortization 1,063 1,129
Other gains, net 358 (2)
Net gain on sales of loans (7,493) (15,943)
Proceeds from sales of loans held for sale 288,280 434,582
Loans originated for sale (235,129) (436,176)
Deferred income tax expense (benefit) 2,620 885
Earnings on bank-owned life insurance (296) (330)
Stock-based compensation 528 390
Change in valuation of mortgage servicing rights (4,475) (1,287)
Net change in:    
Accrued interest receivable and other assets 1,995 (418)
Accrued expenses and other liabilities 9,267 8,452
Net cash provided by operating activities 70,616 8,148
Activity in securities available for sale:    
Purchases (132,412) (37,046)
Maturities, prepayments, and calls 17,618 43,350
Loan originations and principal collections, net (16,660) (22,094)
Purchases of premises and equipment (1,316) (90)
Proceeds from sales of premises and equipment 39 17
Proceeds from sales of foreclosed assets 133 354
Net cash used in investing activities (132,598) (15,509)
Cash flows from financing activities:    
Net change in deposits 108,935 181,281
Net change in short-term borrowings 0 (9,025)
Payments to tax authorities for stock-based compensation (195) (106)
Payments made on notes payable and other borrowings 0 (50,000)
Cash dividends on common stock (1,950) (904)
Payments to repurchase common stock (3,017) (786)
Net cash provided by financing activities 103,773 120,460
Net change in cash and cash equivalents 41,791 113,099
Beginning cash and cash equivalents 486,821 300,307
Ending cash and cash equivalents 528,612 413,406
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 3,553 4,070
Income taxes paid 0 0
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 242 378
Additions to mortgage servicing rights $ 1,250 $ 3,222