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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 57,707 $ 32,743 $ 40,081
Adjustments to reconcile net income to net cash provided by operations:      
Provision for credit loss expense 6,003 15,354 6,024
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 6,241 6,082 5,963
Amortization (accretion) of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (2,127) (1,955) (870)
Net amortization of deferred costs on borrowings 177 0 0
Accretion of deferred PPP processing fees (8,737) (5,140) 0
Deferred taxes (1,691) 1,390 (204)
Net realized gains on sales of available-for-sale securities (783) (2,190) (148)
Net realized and unrealized losses (gains) on equity securities (790) (328) (1,888)
Proceeds from sale of Visa Class B shares 0 0 463
Gain on sale of Visa Class B shares 0 0 (463)
Gain on sale of loans (2,737) (2,961) (990)
Net losses (gains) on dispositions of premises and equipment and foreclosed assets 230 1,097 (377)
Proceeds from sale of loans 95,258 82,619 43,198
Origination of loans held for sale (95,411) (87,528) (43,458)
Income on bank owned life insurance (2,184) (1,747) (1,317)
Gain on bank owned life insurance (death benefit proceeds in excess of cash surrender value) (454) 0 0
Stock-based compensation expense 1,411 1,410 1,346
Stock-based contribution expense 75 0 0
Changes in:      
Accrued interest receivable and other assets (1,056) (6,242) 1,072
Accrued interest payable, lease liabilities, and other liabilities 7,788 (3,846) 3,610
NET CASH PROVIDED BY OPERATING ACTIVITIES 58,920 28,758 52,042
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from maturities, prepayments and calls of available-for-sale securities 170,962 164,488 98,274
Proceeds from sales of available-for-sale securities 33,553 57,185 11,403
Proceeds from sale of equity securities 0 5,935 301
Purchase of available-for-sale securities (341,140) (224,080) (122,358)
Purchase of equity securities (407) (2,447) (436)
Proceeds from loans held for sale previously classified as portfolio loans 1,921 0 0
Loan origination and payments, net (246,043) (244,903) (335,965)
Purchase of bank owned life insurance (22,000) 0 (8,778)
Proceeds from death benefit of bank owned life insurance policies 1,390 0 0
Net cash from business combinations 0 72,852 0
Redemption (purchase) of FHLB, other equity, and restricted equity interests (2,258) 7,268 (3,360)
Purchase of premises and equipment (6,484) (5,644) (9,045)
Proceeds from the sale of premises and equipment and foreclosed assets 746 666 1,228
NET CASH USED BY INVESTING ACTIVITIES (409,760) (168,680) (368,736)
Net change in:      
Checking, money market and savings accounts 623,967 702,452 459,162
Certificates of deposit (90,092) (42,510) 32,379
Purchase of treasury stock (1,163) (1,307) (1,291)
Proceeds from stock offering, net of issuance costs 0 3,257 1,423
Proceeds from preferred stock offering, net of issuance costs 0 57,785 0
Cash dividends paid on common stock (11,550) (10,981) (10,358)
Cash dividends paid on preferred stock (4,302) (1,147) 0
Proceeds from issuance of subordinated notes, net of issuance costs 83,484 0 0
Proceeds from long-term borrowings 0 231,985 30,353
Repayments on long-term borrowings (50,000) (459,892) (47,563)
NET CASH PROVIDED BY FINANCING ACTIVITIES 550,344 479,642 464,105
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 199,504 339,720 147,411
CASH AND CASH EQUIVALENTS, Beginning 532,694 192,974 45,563
CASH AND CASH EQUIVALENTS, Ending 732,198 532,694 192,974
Cash paid during the period for:      
Interest 20,030 32,957 39,282
Income taxes 11,788 9,524 8,006
SUPPLEMENTAL NONCASH DISCLOSURES:      
Transfers to other real estate owned 1,470 241 2,066
Transfers from loans held for sale to loans held for investment 9,965 0 0
Transfers from loans held for investment to loans held for sale 1,921 0 0
Grant of restricted stock awards from treasury stock 1,374 934 1,086
Grant of performance based restricted stock awards from treasury stock 262 217 21
Restricted stock forfeiture 64 0 71
Contribution of stock from treasury stock 81 0 0
Lease liabilities arising from obtaining right-of-use assets $ 2,643 $ 1,386 $ 19,465