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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income $ 21,888 $ 19,833
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes 149 (1,907)
Provision for loan losses 5,515 7,080
Depreciation and amortization 6,503 6,591
Amortization and accretion of premiums/discounts on investment securities 832 1,227
Stock-based compensation 1,330 982
Increase in value of bank-owned life insurance (601) (602)
Realized loss (gain) on sale of branch (1,544)  
Realized loss (gain) on sale of fixed assets (541)  
Realized loss (gain) on forward sale derivatives (7)  
Realized loss (gain) on rate lock commitments 12 (24)
Realized loss (gain) on sale of foreclosed assets (120) 187
Realized loss (gain) on sale of investment securities (379) (135)
Realized loss (gain) on servicing rights (213) (497)
Net change in:    
Securities held for trading 1,539 51
Loans held for sale (51,535) (9,734)
Accrued interest receivable 151 (993)
Other assets 3,287 6,707
Accrued expenses and other liabilities 15,666 (1,417)
Net cash provided (used) by operating activities 1,932 27,349
Investing Activities    
Proceeds from sales of investment securities available-for-sale 32,565 2,466
Proceeds from maturities of investment securities available-for-sale 27,818 26,120
Purchases of investment securities available-for-sale (80,450) (10,493)
Net (increase) decrease in equity securities 490 2,698
Net (increase) decrease in loans 14,213 (153,475)
Proceeds from sale of branch 10,379  
Proceeds from sale of fixed assets 875  
Purchases of premises and equipment (2,450) (2,314)
Proceeds from sales of foreclosed assets 1,006 687
Net cash provided (used) by investing activities 4,446 (134,311)
Financing Activities    
Net increase (decrease) in deposits 53,241 (17,253)
Net increase (decrease) in short-term borrowings (93,460) 43,930
Repayments of long-term debt (181) (128)
Cash dividends paid on common stock (6,312) (5,486)
Repurchase of common stock (1,947) (262)
Proceeds from the issuance of common stock in initial public offering net of issuance costs 62,804  
Net cash provided (used) by financing activities 14,145 20,801
Net change in cash and cash equivalents 20,523 (86,161)
Cash and cash equivalents at beginning of period 40,651 121,998
Cash and cash equivalents at end of period 61,174 35,837
Cash paid for:    
Interest 13,162 7,692
Income taxes 5,550 3,030
Non‑cash information    
Loan collateral transferred to foreclosed assets 766 661
Unrealized gain (loss) on investment securities available-for-sale 6,686 (4,579)
Initial recognition of operating lease right‑of‑use assets 10,475  
Initial recognition of operating lease liabilities 10,996  
Change in fair value of ESOP shares   $ (3,003)
ESOP repurchase obligation termination $ 34,494