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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:      
Net income $ 87,939 $ 59,504 $ 64,540
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 5,033 5,346 5,515
Deferred taxes 2,330 (2,909) (1,412)
Stock-based compensation 850 944 859
Provision for credit losses (recovery) (6,386) 16,047 4,819
Write-downs of other real estate owned and other repossessed assets 864 1,454 4,295
Gains on sale of loans held for sale (6,820) (7,226) (1,880)
Securities gains (60) (1,251) (3)
Fair value adjustment in equity securities 218 (518) (780)
Gain on debt repurchase 0 0 (219)
(Gains) losses on sale of assets, net (165) 390 360
Proceeds from sale of mortgage loans held for sale 307,843 347,048 94,507
Funding of mortgage loans held for sale (280,396) (361,913) (91,333)
Amortization of securities premiums and discounts, net 8,010 5,907 5,042
Change in cash surrender value of bank owned life insurance (1,873) (1,371) (1,567)
Payment of operating lease liabilities (1,693) (1,682) (1,663)
Mortgage servicing rights:      
Fair value adjustments (428) 1,064 975
New servicing assets created (2,278) (1,869) (631)
Changes in:      
Accrued interest receivable 403 (982) (404)
Other assets 4,918 1,845 4,941
Accrued interest payable (227) (1,596) (63)
Other liabilities (2,387) 4,147 (2,440)
Net cash provided by operating activities 115,695 62,379 83,458
Certificates of deposit in other banks:      
Purchase of certificates of deposit 0 (245) 0
Maturity of certificates of deposit 0 245 3,675
Securities available-for-sale (AFS):      
Purchase of AFS securities (797,445) (857,167) (196,727)
Proceeds from sales of AFS securities 1,080 186,194 25,734
Proceeds from prepayments, calls, and maturities of AFS securities 305,361 281,487 174,125
Securities held-to-maturity (HTM):      
Proceeds from prepayments and maturities of HTM securities 0 517 132
Change in loans, net 146,050 (306,523) (46,162)
Purchase of premises and equipment (2,373) (1,482) (2,570)
Proceeds from sale and retirement of premises and equipment 830 1 48
Redemption of stock by Federal Home Loan Bank 1,909 426 4,239
Proceeds from sale of other real estate owned and repossessed assets 2,819 4,754 3,641
Additional investment in bank owned life insurance (17,181) (1,733) (1,241)
Proceeds from settlement of bank owned life insurance 330 0 615
Net cash used in investing activities (358,620) (693,526) (34,491)
Cash flows from financing activities:      
Change in deposits, net 328,210 610,510 99,622
Change in repurchase agreements and federal funds purchased, net (84,774) 121,539 931
Advances from Federal Home Loan Bank 0 25,000 30,000
Payments on advances from Federal Home Loan Bank (20) (25,020) (30,021)
Payment of finance lease liabilities (19) (15) (14)
Repurchase of long-term debt 0 0 (1,281)
Issuance of common stock 965 926 1,264
Repurchase of stock 0 (1,099) 0
Dividends paid (27,916) (27,142) (26,235)
Net cash provided by financing activities 216,446 704,699 74,266
Net increase (decrease) in cash and cash equivalents (26,479) 73,552 123,233
Cash and cash equivalents at beginning of year 338,235 264,683 141,450
Cash and cash equivalents at end of year 311,756 338,235 264,683
Supplemental disclosures:      
Income taxes paid 19,485 13,275 9,988
Interest paid 15,316 27,047 40,576
Non-cash activities:      
Loans to facilitate the sale of other real estate owned and repossessed assets 1,733 9,632 2,879
Common stock dividends accrued, paid in subsequent quarter 248 238 221
Real estate and assets acquired in settlement of loans $ 1,200 $ 4,446 $ 3,384