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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 30,519 $ 26,085
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 6,100 1,850
Depreciation and amortization 2,317 2,134
Net amortization of securities 1,782 1,787
Available for sale security (gain) loss (318) 18
Realized (gains) losses on equity securities 117 (32)
Loss on premises and equipment sales and disposals, net 77 28
Stock compensation expense 1,050 1,024
Loss on adjustment of other real estate owned 4 59
Earnings on bank owned life insurance (608) (626)
Origination of loans held for sale (180,876) (45,220)
Proceeds from loans held for sale 184,772 47,247
Net gains on sale of loans (8,372) (2,869)
Net change in other assets and liabilities (9,875) (5,343)
NET CASH FROM OPERATING ACTIVITIES 26,689 26,142
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 37,371 24,513
Proceeds from sales of securities available for sale 17,664 14,082
Purchases of securities available for sale (61,450) (41,378)
Proceeds from sales of equity securities 54 968
Purchase of equity securities (868) (1,594)
Proceeds from redemption of restricted stock 5,061 8
Purchase of restricted stock (2,843) 0
Loan originations and payments, net (155,658) (49,734)
Proceeds from sale of other real estate owned 126 135
Proceeds from land and building sales 502 62
Additions to premises and equipment (3,623) (1,269)
Net cash paid in business combinations (8,136) 0
NET CASH FROM INVESTING ACTIVITIES (171,800) (54,207)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 346,117 240,932
Net change in short-term borrowings (46,858) (213,758)
Proceeds from long-term borrowings 0 45,000
Repayment of long-term borrowings (1,779) (5,747)
Cash dividends paid (9,316) (7,771)
Repurchase of common shares (14,238) (2,842)
NET CASH FROM FINANCING ACTIVITIES 273,926 55,814
NET CHANGE IN CASH AND CASH EQUIVALENTS 128,815 27,749
Beginning cash and cash equivalents 70,760 57,926
Ending cash and cash equivalents 199,575 85,675
Supplemental cash flow information:    
Interest paid 13,367 14,330
Income taxes paid 7,200 4,850
Supplemental noncash disclosures:    
Transfer of loans to other real estate 73 268
Security purchases not settled 2,466 1,022
Issuance of stock awards 1,305 1,169
Issuance of stock for business combinations $ 22,554 $ 0