XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income $ 26,451 $ 29,096
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes 857 (1,215)
Provision for credit losses 550  
Depreciation and amortization 6,378 6,116
Amortization and accretion of premiums/discounts on investment securities 1,652 2,778
Amortization of operating lease right-of-use assets 1,756 (65)
Share-based compensation expense 1,192 1,392
Originations on loans held for sale (239,004) (353,547)
Proceeds on loans held for sale 238,028 383,740
(Increase) in value of bank-owned life insurance (653) (621)
Realized loss (gain) on sale of fixed assets (71) (33)
Realized loss (gain) on derivative instruments 531 1,031
Realized loss (gain) on loans sold (5,922) (10,062)
Realized loss (gain) on sale of foreclosed assets (27) (9)
Realized loss (gain) on BOLI mortality (1,196)  
Realized loss (gain) on servicing rights (28) (683)
Net change in:    
Accrued interest receivable (2,692) (1,628)
Other assets 4,784 (13,903)
Accrued expenses and other liabilities (1,986) 12,348
Net cash provided (used) by operating activities 30,600 54,735
Investing Activities    
Proceeds from maturities of investment securities available-for-sale 46,655 88,417
Purchases of investment securities available-for-sale   (96,968)
Proceeds from calls of investment securities held-to-maturity 242 827
Proceeds from maturities and paydowns of investment securities held-to-maturity 17,125 23,422
Net (increase) decrease in loans (161,606) (290,565)
Net (increase) decrease in FHLB stock (5,953)  
Net cash received (paid) for business combinations   101,585
Proceeds from BOLI mortality claim 2,828  
Purchases of premises and equipment (1,731) (1,081)
Proceeds from sales of foreclosed assets 51 143
Net cash provided (used) by investing activities (102,389) (174,220)
Financing Activities    
Net increase (decrease) in deposits (43,300) (312,425)
Net increase (decrease) in short-term borrowings 137,390 253,830
Repayments of long-term debt   (182)
Cash dividends paid on common stock (11,263) (9,185)
Repurchase of common stock (4,556) (697)
Net cash provided (used) by financing activities 78,271 (68,659)
Net change in cash and cash equivalents 6,482 (188,144)
Cash and cash equivalents at beginning of period 58,242 242,311
Cash and cash equivalents at end of period 64,724 54,167
Supplemental Cash Flow Disclosures    
Interest paid 50,969 7,269
Income taxes paid 6,637 8,713
Cash dividends declared, not paid 3,838 3,615
Supplemental Disclosures of Noncash Investing and Financing Activities    
Loan collateral transferred to foreclosed assets 3 153
Right-of-use assets obtained in exchange for new operating lease liabilities, net 1,938 $ 1,452
Change in fair value hedges presented within residential real estate loans and other assets $ 3,206