XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 11,724 $ 10,874
Adjustments to reconcile net income to net cash from operating activities    
Depreciation 1,034 987
Provision for loan losses 1,076 1,590
Amortization, net of accretion 2,611 666
Writedowns of other real estate owned, net 894 263
Stock compensation expense 31 226
Gain on the disposition of securities available for sale (1,096) 0
Changes in:    
Interest receivable (20) (1,298)
Other assets 623 (496)
Interest payable (135) (274)
Other liabilities (771) 2,213
Net cash from operating activities 15,971 14,751
Cash flows from investing activities    
Purchases of securities available for sale (263,301) (91,614)
Proceeds from maturities and calls of securities available for sale 104,916 73,821
Proceeds from the sales of securities available for sale 25,526 0
Redemption of FHLB stock 7 164
Net change in loans (32,509) (70,720)
Purchases of premises and equipment, net (179) (360)
Proceeds from sales of other real estate acquired through foreclosure 596 612
Net cash from (used in) investing activities (164,944) (88,097)
Cash flows from financing activities    
Net change in deposits 93,044 112,361
Net change in agreements to repurchase securities 28,429 7,309
Repayment of FHLB advances 0 (3,400)
Proceeds from stock option exercises 991 31
Common stock dividends paid (19,132) (4,401)
Net cash from financing activities 103,332 111,900
Net change in cash and cash equivalents (45,641) 38,554
Cash and cash equivalents at beginning of period 210,476 95,056
Cash and cash equivalents at end of period 164,835 133,610
Supplemental disclosures of cash flow information:    
Cash paid during period for interest 1,629 4,404
Cash paid during period for income taxes 3,208 0
Loans transferred to real estate acquired through foreclosure 317 900
Security purchases settled in subsequent period 26,000 0
Operating right-of-use asset resulting from lease liability $ (633) $ 78