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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 23,746 $ 29,369 $ 29,123
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 8,275 3,172 575
Accretion of certain acquisition-related discounts, net (989) (1,499) (2,727)
Share-based compensation 1,994 1,973 1,697
Depreciation and amortization 3,879 4,356 4,741
Amortization of premiums and accretion of discounts on securities, net 1,493 2,292 3,550
Deferred income taxes 902 708 (90)
Reversal of provision for indemnifications (585) (858) (104)
Income from bank-owned life insurance (388) (620) (526)
Pension expense 925 639 2,131
Pension contribution   (2,000)  
Proceeds from sales of loans held for sale 504,716 772,555 1,613,467
Origination of loans held for sale (498,134) (699,459) (1,467,675)
Gains on sales of loans held for sale (5,780) (7,498) (22,279)
Other gains, net (44) (3,173) (591)
Change in other assets and liabilities:      
Accrued interest receivable (1,416) (2,172) 1,293
Other assets (1,641) (2,700) 1,283
Accrued interest payable 2,543 235 (394)
Other liabilities (685) (4,761) (6,087)
Net cash provided by operating activities 38,811 90,559 157,387
Investing activities:      
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 100,812 55,328 114,019
Purchases of securities available for sale (39,275) (242,228) (209,224)
Purchases of time deposits, net (7) (494) 5,930
Repayments on loans held for investment by non-bank affiliates 158,761 175,340 161,299
Purchases of loans held for investment by non-bank affiliates (162,454) (284,428) (216,681)
Net increase in community banking loans held for investment (110,885) (116,663) 3,424
Purchases of corporate premises and equipment (1,459) (3,394) (4,786)
Proceeds from sales of other real estate owned   1,967 1
Changes in collateral posted with other financial institutions, net   3,880 6,040
Other investing activities, net (1,832) (587) 1,285
Net cash used in investing activities (56,339) (411,279) (138,693)
Financing activities:      
Net (decrease) increase in demand and savings deposits (229,634) 133,673 206,303
Net increase (decrease) in time deposits 291,904 (44,427) (43,583)
Net increase in short-term borrowings 21,632 1,857 14,280
Repayments of long-term borrowings (4,000)    
Repurchases of common stock (7,758) (5,373) (8,232)
Cash dividends paid (5,986) (5,756) (5,675)
Other financing activities, net (132) (338) (711)
Net cash provided by financing activities 66,026 79,636 162,382
Net increase (decrease) in cash and cash equivalents 48,498 (241,084) 181,076
Cash and cash equivalents at beginning of period 26,661 267,745 86,669
Cash and cash equivalents at end of period 75,159 26,661 267,745
Supplemental cash flow disclosures:      
Interest paid 23,859 7,699 9,076
Income taxes paid 6,073 8,019 10,545
Supplemental disclosure of noncash investing and financing activities:      
Transfers from corporate premises and equipment to other real estate owned   423  
Adoption of new accounting standard (Note 2) 1,072    
Liabilities assumed to acquire right of use assets under operating leases $ 775 888 2,480
Transfers from loans held for sale to loans held for investment   $ 1,425 $ 2,764