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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net Income $ 16,795 $ 19,740
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of mortgage loans held for sale (47,671) (174,370)
Proceeds from the sale of mortgage loans 47,771 198,799
Gain on sale of mortgage loans, net of origination costs (1,132) (6,173)
Credit for credit losses (1,075) (1,956)
Depreciation and amortization expense 899 927
Investment securities amortization and accretion, net 1,217 1,971
Stock-based compensation expense 624 703
Amortization of core deposit intangible assets 156 164
Purchase accounting accretion, net (80) (234)
Net decrease in derivative collateral posted 24,070 24,380
Decrease in other assets 998 591
Increase (decrease) in other liabilities 178 (2,484)
Net cash provided by operating activities 42,750 62,058
Investing Activities    
Proceeds from available-for-sale debt securities 69,572 94,697
Purchase of available-for-sale debt securities 77,865 118,707
Net increase in loans (102,976) (17,277)
Purchase of Federal Home Loan Bank stock (1,799) 0
Proceeds from sale of Federal Home Loan Bank stock 1,892 1,329
Purchase of premises and equipment 393 320
Recoveries of previously charged-off loans 62 51
Proceeds from the sale of other real estate owned 287 350
Net cash used in investing activities (111,220) (39,877)
Financing Activities    
Net (decrease) increase in deposits (32,225) 206,386
Net proceeds from borrowings less than 90 days 26,060 23,969
Repayments of Federal Home Loan Bank long-term advances 0 25,000
Common stock repurchases (542) (11)
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings (114) (80)
Cash dividends paid on common stock 5,911 4,934
Finance lease payments (40) (38)
Net cash (used in) provided by financing activities (12,772) 200,292
Net (decrease) increase in cash, cash equivalents and restricted cash (81,242) 222,473
Cash, cash equivalents, and restricted cash at beginning of period 220,625 145,774
Cash, cash equivalents and restricted cash at end of period 139,383 368,247
Supplemental information    
Interest paid 2,470 3,117
Income taxes paid 150 176
Unsettled common stock repurchase 67 0
Transfer from premises to other real estate owned $ 0 $ 204