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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 10,184 $ 15,215
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes 854 264
Depreciation and amortization 2,083 2,345
Amortization and accretion of premiums/discounts on investment securities 1,010 794
Amortization of operating lease right-of-use assets (19) (8)
Stock-based compensation 378 498
Increase in value of bank-owned life insurance (202) (193)
Realized loss (gain) on sale of fixed assets   (27)
Realized loss (gain) on derivative instruments 2 (713)
Realized loss (gain) on loans sold (3,097) (14,201)
Realized loss (gain) on sale of foreclosed assets (8) (23)
Realized loss (gain) on sale of investment securities   (114)
Realized loss (gain) on servicing rights (51) (165)
Net change in:    
Loans held for sale 27,638 57,823
Accrued interest receivable 21 391
Other assets (4,818) (2,050)
Accrued expenses and other liabilities 872 (4,995)
Net cash provided (used) by operating activities 34,847 54,841
Investing Activities    
Proceeds from sales or calls of investment securities available-for-sale   13,189
Proceeds from maturities of investment securities available-for-sale 31,665 27,307
Purchases of investment securities available-for-sale (95,640) (262,081)
Proceeds from sales or calls of investment securities held-to-maturity 515  
Proceeds from maturities of investment securities held-to-maturity 10,851  
Net (increase) decrease in loans (59,910) 41,391
Purchases of premises and equipment (130) (277)
Proceeds from sales of foreclosed assets 57 101
Net cash provided (used) by investing activities (112,592) (180,370)
Financing Activities    
Net increase (decrease) in deposits (28,284) 145,580
Repayments of long-term debt (59) (49,748)
Proceeds from the issuance of subordinated debt   50,000
Cash dividends paid on common stock (2,784) (2,602)
Repurchase of common stock (607) (446)
Net cash provided (used) by financing activities (31,734) 142,784
Net change in cash and cash equivalents (109,479) 17,255
Cash and cash equivalents at beginning of period 242,311 172,962
Cash and cash equivalents at end of period 132,832 190,217
Cash paid for:    
Interest 926 1,405
Income taxes 12 736
Non-cash information    
Loan collateral transferred to foreclosed assets 29 154
Unrealized gain (loss) on investment securities available-for-sale (33,951) $ (13,594)
Accretion of unrealized (gain) loss on investment securities held-to-maturity $ (4,118)