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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,240 $ 7,075
Adjustments to reconcile net income to net cash from operating activities:    
(Credit) provision for credit losses (270) 8,305
(Credit) provision for unfunded loans (179) 294
Depreciation and amortization 1,611 1,899
Net amortization of securities 240 267
Available for sale security losses (gains) 2,134 (120)
Realized gains on equity securities (14) (1)
Stock compensation expense 662 615
Earnings on bank owned life insurance (624) (547)
Income recognized from death benefit on bank owned life insurance (83) 0
Origination of loans held for sale (15,649) (12,947)
Proceeds from loans held for sale 16,209 14,016
Net gains on sale of loans (297) (310)
Net change in other assets and liabilities (1,817) (4,679)
NET CASH FROM OPERATING ACTIVITIES 13,163 13,867
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 11,727 12,756
Proceeds from sales of securities available for sale 44,292 69,918
Purchases of securities available for sale (45,883) (450)
Proceeds from sales of equity securities 23 10
Purchase of equity securities (21) (13)
Proceeds from maturities and repayments of SBIC funds 146 166
Purchases of SBIC funds (521) (671)
Proceeds from redemption of regulatory stock 2,799 12,721
Purchase of regulatory stock (1,720) (10,644)
Loan originations and payments, net 15,977 (6,496)
Proceeds from loans held for sale previously classified as portfolio loans 1,594 0
Proceeds from BOLI death benefit 551 0
Additions to premises and equipment (1,553) (171)
Net cash paid in business combinations 0 (13,175)
NET CASH FROM INVESTING ACTIVITIES 27,411 63,951
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 20,739 (41,421)
Net change in short-term borrowings (10,000) 34,000
Cash dividends paid (6,341) (6,403)
Repurchase of common shares 0 (11,544)
NET CASH FROM FINANCING ACTIVITIES 4,398 (25,368)
NET CHANGE IN CASH AND CASH EQUIVALENTS 44,972 52,450
Beginning cash and cash equivalents 103,658 75,551
Ending cash and cash equivalents 148,630 128,001
Supplemental cash flow information:    
Interest paid 27,195 16,356
Supplemental noncash disclosures:    
Issuance of stock awards 1,560 431
Issuance of stock for business combinations 0 59,202
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 1,289