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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 60,597 $ 51,844 $ 41,876
Adjustments to reconcile net income to net cash from operating activities:      
Provision for credit losses 250 4,649 9,159
Provision (credit) for unfunded commitments 872 244 (59)
Depreciation and amortization 4,899 3,539 3,122
Net amortization of securities 4,817 3,555 2,347
Available for sale security (gains) loss 415 (838) (385)
Realized (gains) losses on equity securities 39 (166) 5
(Gain) loss on land and building sales, net (20) 247 77
Stock compensation expense 1,817 1,193 1,443
(Gains) loss on sale of other real estate owned 0 0 (38)
Earnings on bank owned life insurance (1,626) (1,298) (795)
Income recognized from death benefit on bank owned life insurance (184) (40) 0
Origination of loans held for sale (102,150) (398,011) (245,060)
Proceeds from loans held for sale 105,956 406,381 255,167
Net gains on sale of loans (2,062) (8,285) (11,362)
Net change in other assets and liabilities 10,065 (8,081) (6,431)
NET CASH FROM OPERATING ACTIVITIES 83,685 54,933 49,066
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from maturities and repayments of securities available for sale 78,265 74,376 61,117
Proceeds from sales of securities available for sale 37,190 35,175 60,341
Purchases of securities available for sale (239,240) (849,941) (176,212)
Proceeds from sale of equity securities 72 258 67
Purchases of equity securities (78) (68) (842)
Distributions from SBIC funds 2,740 1,261 0
Purchases of SBIC funds (3,067) (1,116) 0
Purchases of restricted stock (5,833) (22) (2,843)
Redemption of restricted stock 3,142 2,198 5,383
Loan originations and payments, net (77,198) 231,479 (86,741)
Proceeds from sale of other real estate owned 0 0 241
Proceeds from BOLI death benefits 693 352 0
Purchase of bank owned life insurance 0 0 (15,000)
Proceeds from land and building sales 1,399 37 502
Additions to premises and equipment (5,505) (1,375) (3,696)
Net cash received (paid) in business combinations (1,033) 83,773 (2,204)
NET CASH FROM INVESTING ACTIVITIES (208,453) (423,613) (159,887)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net change in deposits 14,533 241,083 418,663
Net change in short-term borrowings 95,000 (6,767) (49,529)
Repayments of long-term borrowings 0 (66,980) (47,560)
Proceeds from long term borrowings 0 73,749 0
Cash dividends paid (22,004) (14,072) (12,654)
Repurchase of common shares 0 (164) (14,238)
NET CASH FROM FINANCING ACTIVITIES 87,529 226,849 294,682
NET CHANGE IN CASH AND CASH EQUIVALENTS (37,239) (141,831) 183,861
Beginning cash and cash equivalents 112,790 254,621 70,760
Ending cash and cash equivalents 75,551 112,790 254,621
Supplemental cash flow information:      
Interest paid 16,461 8,482 16,515
Income taxes paid 10,100 12,500 9,000
Supplemental noncash disclosures:      
Transfer of loans and property to other real estate owned 0 0 73
Issuance of stock for business combinations 0 98,921 22,554
Issuance of stock awards 2,184 2,136 1,740
Security purchases not settled $ 0 $ 0 $ 3,889