XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 10,030 $ 3,031
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 552 1,011
Deferred income tax expense (1,314) (516)
Stock-based compensation 1,241 846
Provision for loan losses 2,491 116
Net amortization of investment securities 231 71
Stock dividends received on correspondent bank stock (12) (19)
Increase in cash surrender value of company-owned life insurance (182) (189)
Net gain on mortgage loans (12,654) (4,718)
Origination of mortgage loans held for sale (541,222) (228,313)
Proceeds from mortgage loans 526,355 212,371
Loss on assets held for sale 553 (1,600)
Loss on impairment of goodwill   1,572
Net changes in operating assets and liabilities:    
Accounts receivable 633 (213)
Accrued interest receivable and other assets (2,444) (2,584)
Accrued interest payable and other liabilities 6,588 (59)
Net cash used in operating activities (9,154) (17,593)
Activity in available-for-sale securities:    
Maturities, prepayments, and calls 12,662 3,831
Purchases   (10,390)
Purchases of correspondent bank stock (698) (1,237)
Redemption of correspondent bank stock   2,095
Purchases of premises and equipment (523) (280)
Net cash paid on acquisitions (Note 2) (61,316)  
Loan and note receivable originations and principal collections, net (304,658) (45,383)
Net cash used in investing activities (354,533) (51,364)
Cash flows from financing activities    
Net change in deposits 257,068 67,419
Proceeds from subordinated notes 8,000  
Settlement of restricted stock (170) (110)
Recognition of capitalized subordinated notes issuance costs (116)  
Repurchase of common stock (370)  
Proceeds from Federal Reserve borrowings 204,313  
Payments to Federal Home Loan Bank Topeka borrowings (27,000) (46,286)
Proceeds from Federal Home Loan Bank Topeka borrowings 35,000 67,346
Net cash provided by financing activities 476,725 88,369
Net change in cash and cash equivalents 113,038 19,412
Cash and cash equivalents, beginning of year 78,638 73,357
Cash and cash equivalents, end of period 191,676 92,769
Supplemental cash flow information:    
Interest paid on deposits and borrowed funds 4,349 6,250
Income tax payment, net of refunds received 1,122 630
Cash paid for amounts included in the measurement of lease liabilities 2,893 2,738
Supplemental noncash disclosures:    
Adoption of ASU 2018-02 - Reclassification of stranded tax effects   235
Change in unrealized gain/(loss) 1,334 2,043
Lease right-of-use-asset obtained in exchange for lease liabilities 380 $ 16,580
Reclass of held for sale assets, net of liabilities $ 10