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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 16,837 $ 14,784
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes (3,543) 780
Provision for loan losses 6,000 4,017
Depreciation and amortization 4,313 4,208
Amortization and accretion of premiums/discounts on investment securities 684 559
Amortization of operating lease right-of-use assets (12) 6
Stock-based compensation 859 995
Increase in value of bank-owned life insurance (393) (396)
Realized loss (gain) on sale of branch   (1,544)
Realized loss (gain) on derivative instruments (1,010) (2,150)
Realized loss (gain) on loans sold (19,099) (6,103)
Realized loss (gain) on sale of foreclosed assets (19) (161)
Realized loss (gain) on sale of investment securities (1,294) (289)
Realized loss (gain) on servicing rights 558 (101)
Net change in:    
Securities held for trading   1,539
Loans held for sale (34,934) (24,027)
Accrued interest receivable (424) (255)
Other assets (2,295) (3,334)
Accrued expenses and other liabilities 11,079 (934)
Net cash provided (used) by operating activities (22,693) (12,406)
Investing Activities    
Proceeds from sales or calls of investment securities available-for-sale 39,505 21,631
Proceeds from maturities of investment securities available-for-sale 22,266 18,801
Purchases of investment securities available-for-sale (134,079) (37,458)
Net (increase) decrease in equity securities 2,808 633
Net (increase) decrease in loans (315,888) (13,117)
Proceeds from sale of branch   10,379
Purchases of premises and equipment (1,998) (1,934)
Proceeds from sales of foreclosed assets 303 420
Net cash provided (used) by investing activities (387,083) (645)
Financing Activities    
Net increase (decrease) in deposits 481,837 (26,507)
Net increase (decrease) in short-term borrowings   47,985
Repayments of long-term debt (103) (104)
Cash dividends paid on common stock (5,191) (3,948)
Repurchase of common stock (336) (106)
Net cash provided (used) by financing activities 476,207 17,320
Net change in cash and cash equivalents 66,431 4,269
Cash and cash equivalents at beginning of period 144,006 40,651
Cash and cash equivalents at end of period 210,437 44,920
Cash paid for:    
Interest 7,923 7,719
Income taxes 618 4,644
Non-cash information    
Loan collateral transferred to foreclosed assets 302 491
Unrealized gain (loss) on investment securities available-for-sale 7,835 5,086
Initial recognition of operating lease right-of-use assets   10,422
Initial recognition of operating lease liabilities   $ 10,943
Right-of-use assets obtained in exchange for new operating leases $ 1,531