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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income from continuing operations $ 14,656 $ 23,366
Adjustments to reconcile net income from continuing operations to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization 4,941 4,702
Net amortization (accretion) of premiums and discounts 505 (227)
Provision for (recovery of) credit losses 3,411 (4,502)
Origination of loans held for sale (90,021) 0
Proceeds from sale of loans held for sale 97,326 0
Loss on bank premises and equipment 684 0
Net gains on sale of mortgage loans (2,790) 0
Earnings on bank-owned life insurance and gain on death benefit (1,147) (1,146)
Stock-based compensation expense 959 641
Gain on bank-owned life insurance death benefit 0 (6)
(Gain) loss on other real estate owned (59) 17
Provision (benefit) for deferred income taxes (700) 1,161
Net (increase) decrease in other assets (1,732) 2,098
Net decrease in other liabilities (2,884) (3,624)
Net cash and cash equivalents provided by operating activities from continuing operations 23,149 22,480
Investing activities:    
Purchases of securities available-for-sale (32,486) (84,959)
Proceeds from paydowns, maturities and calls of securities available-for-sale investment securities 27,650 29,693
Proceeds from paydowns, maturities and calls of securities held-to-maturity investment securities 8,478 14,269
Net (increase) decrease of FRB and FHLB stock (1,168) 1,406
Net (increase) decrease in loans (396,983) 125,836
Proceeds from bank-owned life insurance death benefit 352 224
Proceeds from sales of other real estate owned, net of improvements 181 1,901
Purchases of bank premises and equipment (706) (2,133)
Business acquisition, net of cash acquired (4,554) 0
Net cash and cash equivalents (used in) provided by investing activities from continuing operations (399,236) 86,237
Financing activities:    
Net (decrease) increase in deposits (54,896) 374,461
Cash dividends paid on common stock (7,387) (7,349)
Proceeds from exercised stock options 279 1,526
Repurchase of restricted stock (8) (14)
Extinguishment of senior subordinated notes 0 (20,000)
Proceeds from FHLB advances, net of repayments 25,000 0
Repayment of short-term borrowings acquired (19,254) 0
Increase (decrease) in securities sold under agreements to repurchase (76) (2,717)
Net cash and cash equivalents (used in) provided by financing activities from continuing operations (56,342) 345,907
Net change in cash and cash equivalents from continuing operations (432,429) 454,624
Cash flows used in discontinued operation:    
Net cash and cash equivalents used in operating activities 0 (63)
Net change in cash and cash equivalents from discontinued operation 0 (63)
Net change in cash and cash equivalents (432,429) 454,561
Cash and cash equivalents at beginning of period 530,167 196,185
Cash and cash equivalents at end of period 97,738 650,746
Cash payments for:    
Interest 12,286 16,710
Income taxes $ 3,035 $ 6,146