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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Consolidated Net Income $ 13,570 $ 15,025
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Provision for Credit Losses 1,186 3,222
Depreciation and Amortization 1,153 1,187
Net Accretion of Purchase Accounting Adjustments (319) (2,540)
Stock Based Compensation Cost 1,197 1,197
Net Amortization of Securities 634 1,160
Loss on Sales of Securities 1 1
Gain on Sale of Loans (24) (161)
Income on Other Equity Securities (509) (420)
Gain on Sale of Other Real Estate Owned, Net of Writedowns (63) (209)
Increase in Cash Value of Life Insurance (578) (524)
Deferred Income Tax Expense 1,876 1,073
Changes in Assets and Liabilities:    
Decrease in Accrued Interest Receivable 590 220
Decrease in Other Assets 1,994 2,386
Increase (Decrease) in Accrued Interest Payable (10,911) 1,421
Decrease in Other Liabilities (2,194) (100)
Net Cash Provided by Operating Activities 7,603 22,938
Cash Flows From Investing Activities:    
Purchases of Securities Available for Sale (24,333) (30,236)
Proceeds from Maturities / Sales of Securities Available for Sale 7,663 6,625
Proceeds from Paydowns of Securities Available for Sale 16,287 17,258
Net Cash Paid in Acquisition (3,279) 0
Purchases of Other Equity Securities (713) (11,351)
Redemption of Other Equity Securities 238 12,365
Purchase of Life Insurance (3,000) (2,273)
Net Increase in Loans (94,879) (192,107)
Net Purchases of Premises and Equipment (389) (2,075)
Proceeds from Sales of Other Real Estate 409 1,026
Net Increase in Federal Funds Sold (60,158) (88,644)
Net Cash Used in Investing Activities (162,154) (289,412)
Cash Flows From Financing Activities:    
Net Increase (Decrease) in Deposits 323,960 (14,167)
Net Decrease in Securities Sold Under Agreements to Repurchase (1,678) (3,539)
Net Increase in Federal Funds Purchased 0 565
Net Advances (Repayments) on Federal Home Loan Bank Borrowings 97,008 (14,966)
Net Proceeds (Repayments) on Bank Term Funding Program (300,000) 310,000
Payment of Dividends on Preferred Stock (1,350) (1,350)
Payment of Dividends on Common Stock (3,593) (3,042)
Net Cash Provided by Financing Activities 114,347 273,501
Net Increase (Decrease) in Cash and Cash Equivalents (40,204) 7,027
Cash and Cash Equivalents at Beginning of Period 226,110 152,740
Cash and Cash Equivalents at End of Period 185,906 159,767
Supplemental Disclosures for Cash Flow Information:    
Interest on Deposits 38,852 18,015
Interest on Borrowings 16,539 7,307
Income Tax Payments 0 0
Supplemental Schedule for Noncash Investing and Financing Activities:    
Change in the Unrealized Gain (Loss) on Securities Available for Sale (6,416) 8,002
Change in the Unrealized Gain (Loss) on Equity Securities 14 (134)
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale 1,353 (1,662)
Transfer of Loans to Other Real Estate $ 0 $ 810