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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 46,142 $ 30,519
Adjustments to reconcile net income to net cash from operating activities:    
Provision (credit) for credit losses (472) 6,100
Provision (credit) for unfunded loans (1) 0
Depreciation and amortization 2,429 2,317
Net amortization of securities 2,254 1,782
Available for sale security gain (838) (318)
Realized (gains) losses on equity securities (141) 117
Loss on premises and equipment sales and disposals, net 52 77
Stock compensation expense 865 1,050
Loss on adjustment of other real estate owned 0 4
Earnings on bank owned life insurance (884) (608)
Income recognized from death benefit on bank owned life insurance (40) 0
Origination of loans held for sale (236,319) (180,876)
Proceeds from loans held for sale 244,876 184,772
Net gains on sale of loans (6,557) (7,754)
Net change in other assets and liabilities (11,409) (10,493)
NET CASH FROM OPERATING ACTIVITIES 39,957 26,689
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities and repayments of securities available for sale 48,681 37,371
Proceeds from sales of securities available for sale 35,176 17,664
Purchases of securities available for sale (702,871) (61,450)
Proceeds from sales of equity securities 87 54
Purchase of equity securities (48) (868)
Proceeds from maturities and repayments of SBIC funds 1,103 0
Purchases of SBIC funds (784) 0
Proceeds from redemption of restricted stock 2,145 5,061
Purchase of restricted stock (22) (2,843)
Loan originations and payments, net 185,293 (155,658)
Proceeds from sale of other real estate owned 0 126
Proceeds from BOLI death benefit 352 0
Proceeds from land and building sales 0 502
Additions to premises and equipment (460) (3,623)
Net cash paid in business combinations 0 (8,136)
NET CASH FROM INVESTING ACTIVITIES (431,348) (171,800)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 255,535 346,117
Net change in short-term borrowings (2,521) (46,858)
Repayment of long-term borrowings (26,980) (1,779)
Cash dividends paid (9,340) (9,316)
Repurchase of common shares (116) (14,238)
NET CASH FROM FINANCING ACTIVITIES 216,578 273,926
NET CHANGE IN CASH AND CASH EQUIVALENTS (174,813) 128,815
Beginning cash and cash equivalents 254,621 70,760
Ending cash and cash equivalents 79,808 199,575
Supplemental cash flow information:    
Interest paid 6,782 13,367
Income taxes paid 9,400 7,200
Supplemental noncash disclosures:    
Transfer of loans to other real estate 0 73
Security purchases not settled 0 2,466
Issuance of stock awards 1,089 1,305
Issuance of stock for business combinations $ 0 $ 22,554