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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 $ 33,157 $ 21,075
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,650 2,359
Provision for credit losses 2,500 11,500
Share-based compensation expense 448 402
Deferred income tax benefit 44 (3,459)
Loans originated for sale (94,025) (64,279)
Proceeds from sale of loans 96,519 64,195
Gain (Loss) on Sales of Loans, Net (1,890) (1,135)
Debt Securities, Available-for-sale, Realized Gain (Loss) 534 2,560
Gain (Loss) on Disposition of Assets (113) 167
Write-downs of foreclosed properties 1,006 1,719
Amortization of securities premiums, net 3,163 2,135
Amortization (accretion) related to acquisitions, net (1,271) (1,133)
Amortization of intangibles 1,176 1,251
Earnings on cash surrender value of bank owned life insurance (803) (1,413)
Decrease (increase) in accrued interest receivable 1,657 (1,617)
Increase in other assets (207) (48)
Increase (decrease) in other liabilities 642 (1,225)
Net cash provided by operating activities 44,345 27,600
Cash Flows from Investing Activities    
Proceeds from maturities and calls of debt securities available for sale 6,455 2,810
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities 0 1,000
Proceeds from Sale of Debt Securities, Available-for-sale 15,704 105,597
Principal payments received on debt securities available for sale 22,925 17,952
Payments to Acquire Debt Securities, Available-for-sale 190,653 52,783
Payments to Acquire Held-to-maturity Securities 0 (93,234)
Purchases of other investments (343) (14,245)
Proceeds from redemptions of other investments 3,139 16,461
Net loan originations (90,086) (264,600)
Purchases of premises and equipment (3,683) (8,077)
Proceeds from Sale of Property, Plant, and Equipment 59 9
Improvements to property held for sale 100 (1,249)
Proceeds from sales of repossessed assets & property held for sale 2,457 2,007
Payment to Acquire Life Insurance Policy, Investing Activities 0 (9,298)
Cash Acquired from Acquisition 95,699 183,688
Net cash used in investing activities (138,227) (113,962)
Cash Flows from Financing Activities    
Net increase in demand deposit, NOW and savings accounts 275,730 307,957
Net decrease in time deposits (78,560) (130,841)
Net decrease in short-term borrowings 0 (59,199)
Repayment of long-term borrowings (15) (14)
Proceeds from Issuance of Subordinated Long-term Debt 0 29,336
Payments for Derivative Instrument, Financing Activities 0 (5,850)
Proceeds from issuance of common stock, net of issuance costs 213 105
Proceeds from Issuance of Preferred Stock and Preference Stock 14,920 0
Payments for Repurchase of Common Stock 0 1,444
Proceeds from Stock Options Exercised 13 0
Dividends paid on common stock (6,733) (6,590)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (364) 0
Net cash provided by financing activities 205,204 133,460
Increase in cash and cash equivalents 111,322 47,098
Cash and cash equivalents:    
Beginning 99,787 61,888
Ending 211,109 108,986
Cash payments for:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 9,671 15,887
Income taxes 9,017 9,145
Supplemental Disclosures of Noncash Investing and Financing Activities    
Real property and other assets acquired in settlement of loans 532 902
Lease Obligation Incurred 1,950 3,293
Noncash or Part Noncash Acquisition, Other Assets Acquired 58,054 171,645
Noncash or Part Noncash Acquisition, Other Liabilities Assumed $ 164,085 $ 365,379