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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 10,662 $ 13,625
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Provision for (reversal of) credit losses 762 (338)
Depreciation and amortization of premises and equipment 699 673
Amortization of net premiums on securities 52 131
Amortization of servicing assets 1,996 2,074
Accretion of net discounts on loans (1,275) (1,304)
Amortization of low income housing partnerships 1,035 723
Stock-based compensation, net 636 638
Deferred income taxes (209) 1,092
Gain on sale of loans (4,028) (4,668)
Earnings on company owned life insurance (333) (300)
Net change in fair value of equity investment with readily determinable fair value 50 (1)
Origination of loans held for sale (63,660) (40,139)
Proceeds from sales of loans held for sale 61,700 87,173
Net change in:    
Accrued interest receivable (296) (523)
Other assets 6,778 (6,780)
Accrued interest payable 2,876 6,583
Other liabilities (4,784) (4,907)
Net cash from operating activities 12,661 53,752
Cash flows from investing activities    
Net change in loans receivable (103,315) (17,685)
Proceeds from matured, called, or paid-down securities available for sale 12,048 12,614
Purchase of loans 0 (18,501)
Purchase of available-for-sale debt securities (19,082) (5,647)
Purchase of equity investments (49) (39)
Purchase of Federal Home Loan Bank stock (87) (4,044)
Purchase of premises and equipment, net (167) (1,366)
Investments in low-income housing partnerships (2,556) (1,563)
Net cash from investing activities (113,208) (36,231)
Cash flows from financing activities    
Net change in deposits 133,263 (26,132)
Cash received from stock option exercises 160 720
Proceeds from Federal Home Loan Bank advances 40,000 75,000
Repayment of Federal Home Loan Bank advances (30,000) 0
Repurchase of common stock (2,691) (2,582)
Cash dividend paid on common stock (3,588) (3,654)
Payments related to tax-withholding for vested restricted stock awards (137) (84)
Net cash from financing activities 137,007 43,268
Net change in cash and cash equivalents 36,460 60,789
Cash and cash equivalents at beginning of period 91,216 82,972
Cash and cash equivalents at end of period 127,676 143,761
Cash paid during the period for:    
Income taxes 5,495 7,305
Interest 32,221 16,969
Supplemental noncash disclosure:    
Initial recognition of right-of-use assets 871 1,369
Transfer of loan to other real estate owned $ 1,077 $ 0