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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 16,894 $ 23,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,356 1,329
Provision for loan losses 10,550 750
Amortization of deferred loan costs, net 7,693 6,563
Amortization of premiums on investment securities, net 1,465 658
Gain on sale of loans 0 (530)
Stock based compensation expense, net of forfeitures 1,785 1,514
Change in fair value of mortgage servicing rights 629 463
Change in fair value of equity securities (288) (311)
Other items, net 6 (370)
Effect of changes in:    
Accrued interest receivable 426 (1,727)
Accrued interest payable (1,648) 695
Prepaid expenses and other assets (658) (200)
Other liabilities and accrued expenses (2,363) 876
Net cash provided by operating activities 35,847 33,378
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of available for sale debt securities 155,188 32,322
Proceeds from maturities and paydowns of held to maturity debt securities 728 643
Purchases of available for sale debt securities (159,639) (54,712)
Net increase in loans receivable (22,625) (194,233)
Proceeds from loans held for sale previously classified as portfolio loans 0 51,606
Purchase of loans (20,507) (10,052)
Redemption (purchase) of FHLB stock, net 730  
Redemption (purchase) of FHLB stock, net   (845)
Purchase of premises and equipment (1,114) (399)
Net cash used in investing activities (47,239) (175,670)
Cash flows from financing activities:    
Net increase in customer deposits 148,802 233,450
Proceeds from long-term FHLB advances 136,500 200,000
Repayment of long-term FHLB advances (151,955) (125,015)
Net change in short-term FHLB advances (1,500) (149,300)
Shares withheld for taxes on vested restricted stock (591) (437)
Shares repurchased (34,714) (7,630)
Cash paid for dividends (6,278) (6,561)
Net cash provided by financing activities 90,264 144,507
Increase in cash, cash equivalents and restricted cash 78,872 2,215
Cash, cash equivalents and restricted cash, beginning of period 91,325 91,697
Cash, cash equivalents and restricted cash, end of period 170,197 93,912
Supplemental disclosure of cash flow information: Cash paid during the period for:    
Interest 61,271 67,678
Income taxes 438 10,916
Non-cash investing activity:    
Loans transferred to held for sale $ 0 $ 61,751