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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 16,632 $ 11,456
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Provision for (reversal of) loan losses 1,337 (492)
Depreciation and amortization of premises and equipment 671 657
Amortization of net premiums on securities 414 503
Amortization of servicing assets 2,161 1,401
Accretion of loan discounts (2,584) (1,669)
Amortization of low income housing partnerships 374 254
Stock-based compensation 602 237
Deferred income taxes (859) (122)
Gain on sale of loans (7,111) (3,092)
Earnings on company owned life insurance (183) (126)
Net change in fair value of equity investment with readily determinable fair value 293 59
Origination of loans held for sale (68,245) (76,270)
Proceeds from sales of loans held for sale 90,928 36,587
Net change in:    
Accrued interest receivable 532 766
Other assets 2,473 3,495
Accrued interest payable 53 (412)
Other liabilities (2,885) (1,973)
Net cash provided by operating activities 34,603 (28,741)
Cash flows from investing activities    
Net change in loans receivable (32,483) (54,826)
Proceeds from matured, called, or paid-down securities available for sale 18,853 18,368
Proceeds from company owned life insurance (10,000) 0
Purchase of loans (138,007) (97,631)
Purchase of securities available for sale (57,518) (39,791)
Purchase of Federal Home Loan Bank stock (1,477) (963)
Purchase of premises and equipment, net (808) (385)
Investment in low income housing partnerships (374) (189)
Net cash used in investing activities (221,814) (175,417)
Cash flows from financing activities    
Net change in deposits 207,557 234,012
Cash received from stock option exercises 0 89
Repayment of Federal Home Loan Bank advances 0 (5,000)
Repurchase of common stock 0 (28)
Cash dividend paid on common stock (3,029) (2,104)
Payments related to tax-withholding for vested restricted stock awards (79) (434)
Net cash provided by financing activities 204,449 226,535
Net change in cash and cash equivalents 17,238 22,377
Cash and cash equivalents at beginning of period 115,459 106,310
Cash and cash equivalents at end of period 132,697 128,687
Supplemental cash flow information    
Income taxes 7,947 6,253
Interest $ 1,670 $ 2,052