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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 $ 21,075 $ 23,718
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,359 1,921
Provision for credit losses 11,500 1,050
Share-based compensation expense 402 430
Deferred income tax benefit (3,459) (336)
Loans originated for sale (64,279) (13,710)
Proceeds from sale of loans 64,195 13,292
Gain (Loss) on Sales of Loans, Net (1,135) (270)
Realized securities gains, net (2,560) (1,535)
Gain (Loss) on Disposition of Assets 167 (213)
Gain (Loss) on Disposition of Business 0 (1,906)
Write-downs of foreclosed properties 1,719 1,578
Amortization of securities premiums, net 2,135 1,826
Amortization (accretion) related to acquisitions, net (1,133) (842)
Amortization of intangibles 1,251 1,300
Earnings on cash surrender value of bank owned life insurance (1,413) (830)
(Increase) decrease in accrued interest receivable (1,617) 434
(Increase) decrease in other assets (48) 221
(Decrease) increase in other liabilities (1,225) 2,935
Net cash provided by operating activities 27,600 29,489
Cash Flows from Investing Activities    
Proceeds from maturities and calls of securities available for sale 2,810 1,766
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities 1,000 0
Proceeds from Sale of Debt Securities, Available-for-sale 105,597 133,174
Principal payments received on securities available for sale 17,952 18,501
Payments to Acquire Debt Securities, Available-for-sale 52,783 63,504
Payments to Acquire Held-to-maturity Securities (93,234) 0
Purchases of other investments (14,245) (12,035)
Proceeds from redemptions of other investments 16,461 14,332
Net loan originations (264,600) (118,893)
Purchases of premises and equipment (8,077) (7,238)
Proceeds from Sale of Property, Plant, and Equipment 9 11
Improvements to property held for sale (1,249) (88)
Proceeds from sales of repossessed assets & property held for sale 2,007 2,789
Payment to Acquire Life Insurance Policy, Investing Activities (9,298) 0
Proceeds from Divestiture of Businesses 0 7,117
Cash Acquired from Acquisition 183,688 20,589
Net cash used in investing activities (113,962) (3,479)
Cash Flows from Financing Activities    
Net increase in demand deposit, NOW and savings accounts 307,957 45,706
Net (decrease) increase in time deposits (130,841) 39,621
Net decrease in short-term borrowings (59,199) (102,390)
Repayment of long-term borrowings (14) (13)
Proceeds from Issuance of Subordinated Long-term Debt 29,336 0
Payments for Derivative Instrument, Financing Activities (5,850) 0
Proceeds from issuance of common stock, net of issuance costs 105 98
Payments for Repurchase of Common Stock 1,444 10,405
Proceeds from Stock Options Exercised 0 7
Dividends paid on common stock (6,590) (5,504)
Net cash provided by (used in) financing activities 133,460 (32,880)
Increase (decrease) in cash and cash equivalents 47,098 (6,870)
Cash and cash equivalents:    
Beginning 61,888 59,540
Ending 108,986 52,670
Cash payments for:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 15,887 22,548
Income taxes 9,145 6,080
Supplemental Disclosures of Noncash Investing and Financing Activities    
Real property and other assets acquired in settlement of loans 902 4,060
Lease Obligation Incurred 3,293 0
Noncash or Part Noncash Acquisition, Other Assets Acquired 171,645 100,377
Noncash or Part Noncash Acquisition, Other Liabilities Assumed 365,379 114,151
Payments to Acquire Businesses, Gross $ 27,215 $ 12,740