XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Statement of Cash Flows [Abstract]    
Net Income $ 12,991 $ 17,967
Adjustments to Reconcile Net Income to Net Cash From Operating Activities    
Proceeds from sales of loans held for sale 65,428 190,618
Disbursements for loans held for sale (54,430) (164,232)
Provision for credit losses 2,160 (1,573)
Deferred income tax expense 1,436 2,174
Net deferred loan fees (costs) 160 (1,114)
Net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities and loans 2,425 2,868
Net gains on mortgage loans (1,256) (835)
Net (gains) losses on securities available for sale 222 (70)
Share based compensation 569 511
(Increase) Decrease in accrued income and other assets 1,960 (6,954)
Decrease in accrued expenses and other liabilities (8,106) (789)
Total Adjustments 10,568 20,604
Net Cash From Operating Activities 23,559 38,571
Cash Flow From (Used in) Investing Activities    
Proceeds from the sale of securities available for sale 278 4,395
Proceeds from maturities, prepayments and calls of securities available for sale 27,742 64,098
Proceeds from maturities, prepayments and calls of securities held to maturity 3,334 0
Purchases of securities held to maturity (400) 0
Purchases of securities available for sale 0 (124,560)
Proceeds from the redemption of Federal Home Loan Bank stock 0 774
Net increase in portfolio loans (loans originated, net of principal payments) (66,329) (96,682)
Proceeds from the sale of portfolio loans 41,237 33,755
Proceeds from bank-owned life insurance 0 433
Proceeds from the sale of other real estate and repossessed assets 243 138
Capital expenditures (1,325) (2,381)
Net Cash From (Used in) Investing Activities 4,780 (120,030)
Cash Flow From Financing Activities    
Net increase in total deposits 165,680 88,408
Net increase (decrease) in other borrowings (60,977) (3)
Proceeds from Federal Home Loan Bank Advances 95,000 0
Payments of Federal Home Loan Bank Advances (70,000) 0
Dividends paid (4,860) (4,667)
Proceeds from issuance of common stock 48 13
Repurchase of common stock 0 (1,384)
Share based compensation withholding obligation (582) (560)
Net Cash From Financing Activities 124,309 81,807
Net Increase (Decrease) in Cash and Cash Equivalents 152,648 348
Cash and Cash Equivalents at Beginning of Period 74,371 109,473
Cash and Cash Equivalents at End of Period 227,019 109,821
Cash paid during the period for    
Interest 13,697 1,104
Income taxes 0 0
Transfers to other real estate and repossessed assets 241 276
Right of use assets obtained in exchange for lease obligations 400 0
Purchase of securities available for sale not yet settled $ 0 $ 10,542