v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 22,798 $ 21,169
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,863 2,105
Stock compensation expense 497 360
Provision for loan losses (1,300) 2,200
Origination of loans for sale (107,845) (120,171)
Proceeds from sales of loans originated for sale 114,809 124,002
Net gains on mortgage loans (4,177) (4,045)
Write-down of other real estate 4 32
Net loss on sales of other real estate 20 0
Deferred income tax expense (benefit) 656 (1,174)
Change in accrued interest receivable and other assets 4,071 (7,450)
Earnings in bank-owned life insurance (787) (688)
Change in accrued expenses and other liabilities (1,865) 4,483
Net cash from operating activities 28,744 20,823
Cash flows from investing activities    
Loan originations and payments, net 293,142 (159,550)
Purchases of securities available for sale (71,864) (102,158)
Purchases of securities held to maturity (72,916) (29,745)
Purchase of bank-owned life insurance (10,000) 0
Proceeds from:    
Maturities and calls of securities 47,220 86,667
Principal paydowns on securities 31,317 27,423
Sales of other real estate 170 92
Proceeds from payout of bank-owned insurance claim 560 0
Additions to premises and equipment (935) (2,103)
Net cash from investing activities 216,694 (179,374)
Cash flows from financing activities    
Change in deposits 254,588 417,285
Repayments and maturities of other borrowed funds (30,619) 0
Proceeds from other borrowed funds 25,000 10,000
Repurchase of shares for taxes withheld on vested restricted stock (34) (24)
Cash dividends paid (8,171) (8,160)
Net cash from financing activities 240,764 419,101
Net change in cash and cash equivalents 486,202 260,550
Cash and cash equivalents at beginning of period 783,736 272,450
Cash and cash equivalents at end of period 1,269,938 533,000
Supplemental cash flow information    
Interest paid 2,227 5,043
Income taxes paid 4,750 5,315
Supplemental noncash disclosures:    
Security settlement $ 0 $ 1,937

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