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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From Operating Activities:      
Consolidated Net Income $ 54,255 $ 52,136 $ 29,994
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Provision for Loan Losses 10,886 8,047 11,435
Depreciation and Amortization 4,818 4,163 3,164
Net Accretion of Purchase Accounting Adjustments (7,949) (7,122) (7,283)
Stock Based Compensation Cost 3,696 2,861 2,453
Net Amortization of Securities 6,005 7,021 5,136
(Gain) Loss on Sales of Securities 48 (378) (135)
Gain on Sale Loans (398) (9,179) 0
Income on Other Equity Securities (1,554) (2,399) (2,658)
(Gain) Loss on Sale of Other Real Estate Owned, Net of Writedowns 92 1,404 (30)
Increase in Cash Value of Life Insurance (1,931) (1,396) (940)
Deferred Income Tax Expense (Benefit) (1,368) 586 (58)
Gain on Sale of Branch 0 (492) 0
Changes in Assets and Liabilities:      
(Increase) Decrease in Accrued Interest Receivable (3,466) 4,298 (10,648)
(Increase) Decrease in Other Assets 6,075 (3,500) (2,655)
Increase (Decrease) in Accrued Interest Payable 519 (1,145) (1,694)
Increase (Decrease) in Other Liabilities (151) 1,538 3,258
Net Cash Provided by Operating Activities 69,577 56,443 29,339
Cash Flows From Investing Activities:      
Purchases of Securities Available for Sale (102,809) (528,059) (233,566)
Proceeds from Maturities / Sales of Securities Available for Sale 38,951 29,945 66,779
Proceeds from Paydowns of Securities Available for Sale 95,019 96,408 73,890
Net Cash Received (Paid) in Acquisition 163,460 (7,256) 106,000
Net Cash Paid in Sale of Branch 0 (13,727) 0
Purchases of Other Equity Securities (22,670) (4,438) (681)
Redemption of Other Equity Securities 10,327 2,575 8,577
Purchase of Life Insurance (18,000) (15,928) 0
Proceeds from Death Benefit of Cash Value of Life Insurance 499 1,974 0
Proceeds from Sale of SBA PPP Loans 0 243,607 0
Net Increase in Loans (1,070,354) (431,236) (384,962)
Net Purchases of Premises and Equipment (7,781) (3,971) (2,970)
Loss on Disposal of Premises and Equipment 717 4 576
Proceeds from Sales of Other Real Estate 682 7,640 3,842
Net (Increase) Decrease in Federal Funds Sold 211,438 (52,892) (112,780)
Net Cash Used in Investing Activities (700,521) (675,354) (475,295)
Cash Flows From Financing Activities:      
Net Increase in Deposits 265,827 480,124 658,388
Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase 1,087 (2,704) (48,767)
Net Increase in Federal Funds Purchased 14,057 0 0
Net Advances (Repayments) on Federal Home Loan Bank Borrowings 327,203 39,022 (89,198)
Net Proceeds (Repayments) from Short Term Borrowings (11) (5,000) 1,369
Net Repayments from Long Term Borrowings 0 (6,000) (1,797)
Proceeds from Issuance of Subordinated Debt 0 52,500 0
Proceeds from Issuance of Preferred Stock, Net of Issuance Costs 71,930 0 0
Proceeds from Issuance of Common Stock, Net of Issuance Costs 48,492 3,564 3,361
Surrendered Shares of Options Exercised (1,102) (2,992) (4,321)
Repurchase of Common Stock 0 (10,923) (5,799)
Payment of Dividends on Preferred Stock (1,350) 0 0
Payment of Dividends on Common Stock (10,824) (9,436) (7,520)
Net Cash Provided by Financing Activities 715,309 538,155 505,716
Net Increase (Decrease) in Cash and Cash Equivalents 84,365 (80,756) 59,760
Cash and Cash Equivalents at Beginning of Period 68,375 149,131 89,371
Cash and Cash Equivalents at End of Period 152,740 68,375 149,131
Supplemental Disclosures for Cash Flow Information:      
Interest on Deposits 23,846 13,249 16,589
Interest on Borrowings 11,953 4,450 4,554
Income Tax Payments 13,550 15,711 5,470
Supplemental Schedule for Noncash Investing and Financing Activities:      
Change in the Unrealized Gain (Loss) on Securities Available for Sale (93,466) (14,607) 9,918
Change in the Unrealized Gain (Loss) on Equity Securities 874 (336) 228
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale and Equity Securities 19,565 3,138 (2,131)
Transfer of Loans to Other Real Estate 719 1,420 1,506
Transfer of Other Real Estate to Premises and Equipment 0 0 5,900
Acquisitions:      
Fair Value of Tangible Assets Acquired 531,510 1,343 1,330,940
Other Intangible Assets Acquired 3,875 4,300 4,211
Liabilities Assumed 508,991 6 1,241,834
Net Identifiable Assets Acquired Over Liabilities Assumed 26,394 5,637 93,317
Subordinated Debt Issued as Part of Consideration of Smith Shellnut Wilson $ 0 $ 3,927 $ 0