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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 15,929 $ 23,175
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 1,271 (1,497)
Depreciation and amortization 1,665 1,040
Amortization of intangible assets 596 226
Amortization of operating lease right-of-use assets 1,021 682
Provision (benefit) for credit losses 6,272 (2,642)
Loans originated for sale (25,379) (16,905)
Proceeds from sales of loans held for sale 31,462 17,718
Loss on equity securities 485 144
Income on bank owned life insurance (777) (634)
Gains on proceeds from bank owned life insurance policies (53) 0
Gains on sales of loans held for sale (1,426) (708)
Gains on other real estate and other repossessed assets (8) 0
Loss on sales of premises and equipment 3 0
Stock-based compensation 1,439 1,206
Excess tax deficiencies (benefits) 79 (88)
(Increase) decrease in other assets (1,860) 26,971
Decrease in other liabilities (1,379) (18,687)
Net Cash Provided by Operating Activities 29,340 30,001
Cash Flows from Investing Activities:    
Net cash acquired in acquisitions 326,236 0
Proceeds from repayments and maturities of available for sale securities 41,454 55,314
Proceeds from repayments and maturities of held to maturity securities 42,432 9,561
Purchase of available for sale securities (269,070) (188,321)
Purchase of held to maturity securities (35,648) (3,968)
Purchase of equity securities (32) (40)
Death benefit proceeds from bank owned life insurance policy 95 0
Proceeds from redemptions of Federal Home Loan Bank stock 0 11,251
Purchases of Federal Home Loan Bank stock (119) (10,044)
Proceeds from sales of loans previously held for investment 0 10,078
Proceeds from sales of other real estate and repossessed assets 8 0
Proceeds from dispositions and sales of premises and equipment 123 0
Purchases of premises and equipment (944) (1,714)
Net Cash Provided by (Used in) Investing Activities 44,426 (212,858)
Cash Flows from Financing Activities:    
Net increase in deposits 132,657 179,458
Decrease in federal funds purchased and securities sold under agreements to repurchase (3,542) (57,561)
Exercise of stock options 0 13
Retirement of restricted stock (933) (656)
Dividends paid (8,809) (6,369)
Net Cash Provided by Financing Activities 119,373 114,885
Net increase (decrease) in cash and cash equivalents 193,139 (67,972)
Cash and cash equivalents, beginning of period 228,530 270,090
Cash and cash equivalents, end of period 421,669 202,118
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 5,619 9,035
Cash paid during the period for interest 6,969 8,273
Transfer of loans to loans held for sale 0 10,078
Right-of-use assets obtained in exchange for new operating lease liabilities 89 109
Non-cash assets acquired:    
Federal Home Loan Bank stock 1,247 0
Investment securities available for sale 217,774 0
Investment securities held to maturity 124,485 0
Loans held for sale 4,620 0
Loans 1,095,266 0
Fixed Assets 13,748 0
Operating lease right-of-use assets 12,991 0
Goodwill and other intangible assets, net 124,570 0
Bank owned life insurance 37,580 0
Other assets 8,820 0
Total non-cash assets acquired 1,641,101 0
Liabilities assumed:    
Deposits 1,650,613 0
Subordinated debt 14,734 0
Operating lease liabilities 12,991 0
Other liabilities 3,257 0
Total liabilities assumed 1,681,595 0
Common stock issued 285,742 0
Payments for (Proceeds from) Other Loans and Leases $ (60,109) $ (94,975)