XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash Flows from Operating Activities          
Net income     $ 12,467 $ 16,373  
Adjustments to reconcile net income to net cash from operating activities:          
Depreciation     1,667 1,418  
Amortization of premiums on available-for-sale securities, net     778 1,108  
Capitalized additions to servicing rights     (2,409) (354)  
Servicing rights amortization and impairment $ 164 $ 59 323 85  
Amortization of core deposit intangible     828 398  
Amortization of customer list intangible     61 61  
Net accretion of fair value adjustments     (1,901) (2,070)  
Amortization of subordinated note issuance costs     58 57  
Stock-based compensation expense     606 432  
Director stock award     180 120  
Provision for credit losses-Loans 143 1,628 960 2,208 $ 4,600
Provision for credit losses-Off balance sheet credit exposures (129)   (67)    
Gain on sale of loans held for sale (108) (164) (175) (861)  
Originations of loans held for sale     (14,980) (47,063)  
Proceeds from sale of loans held for sale     14,523 51,408  
Gain on sale of other assets owned   (266)   (271)  
Loss on sales of securities available-for-sale     891    
Increase in cash surrender value of bank owned life insurance     (397) (316)  
Change in other assets and other liabilities, net     (6,648) (298)  
Net cash provided by operating activities     6,765 22,435  
Activity in available-for-sale securities:          
Maturities, prepayments and calls     6,856 19,479  
Sales     21,963    
Purchases       (25,884)  
Activity in other securities, at cost:          
Sales     399    
Purchases     (8,135) (573)  
Change in interest-bearing time deposits     957 4,229  
Proceeds from sale of other assets owned       430  
Additions to premises and equipment     (5,719) (984)  
Loan originations and principal collections, net     (157,793) (176,649)  
Net cash used in investing activities     (141,472) (179,952)  
Cash Flows from Financing Activities          
Net change in deposits     430 31,823  
Net change in federal funds purchased and securities sold under agreements to repurchase     (2,639) 42,676  
Proceeds from FHLB advances     345,000 20,000  
Repayment of FHLB advances     (205,632) (1,388)  
Repayment of other borrowings     (10,000) (40,000)  
Purchase of treasury stock     (5) (54)  
Cash dividends paid on common stock     (5,663) (4,924)  
Net cash provided by financing activities     121,491 48,133  
Net Decrease in Cash and Cash Equivalents     (13,216) (109,384)  
Cash and Cash Equivalents - Beginning of year     84,409 180,823 180,823
Cash and Cash Equivalents - End of period $ 71,193 $ 71,439 71,193 71,439 $ 84,409
Supplemental cash flow information:          
Interest paid     21,463 5,647  
Income taxes paid     4,000 3,060  
Supplemental noncash disclosures:          
Cash dividends declared not paid     $ 2,834 $ 2,626