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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Consolidated Net Income $ 52,136 $ 29,994 $ 23,772
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Provision for Loan Losses 8,047 11,435 2,606
Depreciation and Amortization 4,163 3,164 1,588
Net Accretion of Purchase Accounting Adjustments (7,122) (7,283) (2,646)
Stock Based Compensation Cost 2,861 2,453 1,093
Net Amortization of Securities 7,021 5,136 1,688
Gain on Sales of Securities (378) (135) (106)
Gain on Sale of SBA PPP Loans (9,179) 0 0
Income on Other Equity Securities (2,399) (2,658) (1,684)
(Gain) Loss on Sale of Other Real Estate Owned, Net of Writedowns 1,404 (30) 546
Increase in Cash Value of Life Insurance (1,396) (940) (686)
Deferred Income Tax Expense (Benefit) 586 (58) 336
Gain on Sale of Branch (492) 0 (581)
Changes in Assets and Liabilities:      
(Increase) Decrease in Accrued Interest Receivable 4,298 (10,648) 198
Increase in Other Assets (3,500) (2,655) (318)
Increase (Decrease) in Accrued Interest Payable (1,145) (1,694) 159
Increase (Decrease) in Other Liabilities 1,538 3,258 (1,547)
Net Cash Provided by Operating Activities 56,443 29,339 24,418
Cash Flows From Investing Activities:      
Purchases of Securities Available for Sale (528,059) (233,566) (27,223)
Proceeds from Maturities / Sales of Securities Available for Sale 29,945 66,779 25,984
Proceeds from Paydowns of Securities Available for Sale 96,408 73,890 38,678
Net Cash Received (Paid) in Acquisition (7,256) 106,000 0
Net Cash Paid in Sale of Branch (13,727) 0 (17,448)
Purchases of Other Equity Securities (4,438) (681) (3,031)
Redemption of Other Equity Securities 2,575 8,577 1,432
Purchase of Life Insurance (15,928) 0 0
Proceeds from Death Benefit of Cash Value of Life Insurance 1,974 0 0
Proceeds from Sale of SBA PPP Loans 243,607 0 0
Net Increase in Loans (431,236) (384,962) (189,361)
Net Purchases of Premises and Equipment (3,971) (2,970) (3,959)
Loss on Disposal of Premises and Equipment 4 576 774
Proceeds from Sales of Other Real Estate 7,640 3,842 1,400
Net Increase in Federal Funds Sold (52,892) (112,780) (19,536)
Net Cash Used in Investing Activities (675,354) (475,295) (192,290)
Cash Flows From Financing Activities:      
Net Increase in Deposits 480,124 658,388 73,319
Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase (2,704) (48,767) 55,760
Net Advances (Repayments) on Federal Home Loan Bank Borrowings 39,022 (89,198) 38,000
Net Proceeds (Repayments) from Short Term Borrowings (5,000) 1,369 0
Net Repayments from Long Term Borrowings (6,000) (1,797) 0
Proceeds from Issuance of Subordinated Debt 52,500 0 0
Proceeds from Issuance of Common Stock 3,564 3,361 823
Surrendered Shares of Options Exercised (2,992) (4,321) 0
Repurchase of Common Stock (10,923) (5,799) (2,553)
Proceeds from Exercise of Stock Warrants 0 0 876
Payment of Dividends on Common Stock (9,436) (7,520) (5,054)
Net Cash Provided by Financing Activities 538,155 505,716 161,171
Net Increase (Decrease) in Cash and Cash Equivalents (80,756) 59,760 (6,701)
Cash and Cash Equivalents at Beginning of Period 149,131 89,371 96,072
Cash and Cash Equivalents at End of Period 68,375 149,131 89,371
Supplemental Disclosures for Cash Flow Information:      
Interest on Deposits 13,249 16,589 19,616
Interest on Borrowings 4,450 4,554 3,494
Income Tax Payments 15,711 5,470 5,600
Supplemental Schedule for Noncash Investing and Financing Activities:      
Change in the Unrealized Gain (Loss) on Securities Available for Sale (14,607) 9,918 7,698
Change in the Unrealized Gain (Loss) on Share of Equity Method Investments (336) 228 0
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale 3,138 (2,131) (1,616)
Transfer of Loans to Other Real Estate 1,420 1,506 4,102
Transfer of Other Real Estate to Premises and Equipment 0 5,900 0
Acquisitions:      
Fair Value of Tangible Assets Acquired 1,343 1,330,940 0
Other Intangible Assets Acquired 4,300 4,211 0
Liabilities Assumed 6 1,241,834 0
Net Identifiable Assets Acquired Over Liabilities Assumed 5,637 93,317 0
Subordinated Debt Issued as Part of Consideration of Smith Shellnut Wilson $ 3,927 $ 0 $ 0