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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 13,232 $ 15,641
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 5,550 600
Depreciation, amortization and accretion, net 1,211 783
Deferred income tax 277 (1,028)
Gain on sales of mortgage loans held for sale (769) (238)
Origination of mortgage loans held for sale (30,974) (13,346)
Proceeds from sale of mortgage loans held for sale 32,350 12,278
Bank owned life insurance income [1] (179) (178)
(Gain)/Loss on the disposal of premises and equipment (231) 4
Gain on the sale of other real estate owned 0 (22)
Stock compensation expense 817 863
Excess tax benefits from share-based compensation arrangements (60) (311)
Net change in accrued interest receivable and other assets (5,018) (1,237)
Net change in accrued interest payable and other liabilities (3,509) (2,754)
Net cash provided by operating activities 12,697 11,055
Investing activities:    
Purchases of securities available for sale (85,100) (174,490)
Proceeds from maturities and paydowns of securities available for sale 118,060 108,124
Proceeds from redemption of Federal Home Loan Bank stock 0 590
Net change in loans (85,733) 17,800
Purchases of premises and equipment (1,564) (1,999)
Proceeds from sales of premises and equipment 1,222 40
Proceeds from bank owned life insurance mortality benefit 0 908
Other investment activities (618) (824)
Proceeds from sales of other real estate owned 0 512
Net cash used in investing activities (53,733) (49,339)
Financing activities:    
Net change in deposits 64,920 (41,816)
Net change in securities sold under agreements to repurchase and federal funds purchased   510
Proceeds from Federal Home Loan Bank advances 30,000 30,000
Repayments of Federal Home Loan Bank advances (40,824) (30,324)
Share repurchases related to compensation plans (1,485) (1,953)
Cash dividends paid (6,119) (5,732)
Net cash provided by (used in) financing activities 45,823 (49,315)
Net change in cash and cash equivalents 4,787 (87,599)
Cash and cash equivalents at beginning of period 249,724 198,939
Cash and cash equivalents at end of period 254,511 111,340
Supplemental cash flow information:    
Interest paid 4,657 5,425
Income taxes paid, net of refunds 0 0
Cash paid for operating lease liabilities 393 354
Supplemental non-cash activity:    
Unfunded commitments in tax credit investments 5,503 2,025
Initital recognition of right-of-use lease assets 0 16,747
Initital recognition operating lease liabilities 0 18,067
Loans transferred to OREO $ 0 $ 0
[1] Outside of the scope of ASC 606.