XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 32,582 $ 32,244
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 6,520 6,685
Provision for credit loss 450 0
Loss on sale or writedown of ORE 235 416
Securities loss (gain) 83 (97)
Acquisition gain (281) 0
Loss (gain) on disposal of premises and equipment 113 (12)
Restricted stock expense 1,012 989
Increase in cash value of life insurance (1,080) (950)
Federal Home Loan Bank stock dividends (1) (26)
Residential loans originated and held for sale (79,176) (134,389)
Proceeds from sale of residential loans held for sale 80,151 149,821
Changes in:    
Interest receivable (1,287) 2,318
Interest payable (104) (307)
Operating lease liability (47) (784)
Other, net 6,029 2,097
Net cash provided by operating activities 45,199 58,005
Cash flows from investing activities:    
Maturities, calls and paydowns of available-for-sale and held-to-maturity securities 111,626 109,261
Purchases of available-for-sale and held-to-maturity securities (604,673) (379,796)
Redemptions (Purchases) of other securities, net (361) 5,276
Net (increase) decrease in loans (163,253) 84,025
Net changes in premises and equipment (4,125) (787)
Proceeds from sale of other real estate owned 836 3,431
Proceeds from the sale of land 712 0
Bank-owned life insurance – death proceeds 1,630 0
Purchase of bank-owned life insurance 0 (12,244)
Net cash used in investing activities (657,608) (190,834)
Cash flows from financing activities:    
Increase in deposits 79,413 458,753
Net decrease in borrowed funds 0 (114,647)
Principal payments on finance lease liabilities (88) (94)
Dividends paid on common stock (7,050) (5,580)
Cash paid to repurchase common stock (22,180) (5,171)
Payment of subordinated debt issuance costs (1) (59)
Repurchase of restricted stock for payment of taxes (627) (441)
Net cash provided by financing activities 49,467 332,761
Net change in cash and cash equivalents (562,942) 199,932
Beginning cash and cash equivalents 919,713 562,554
Ending cash and cash equivalents 356,771 762,486
Supplemental disclosures:    
Loans transferred to other real estate 495 1,576
Issuance of restricted stock grants 130 88
Dividends on restricted stock grants 105 85
Lease liabilities arising from obtaining right-of-use assets $ 600 $ 14