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 $ 12,568 $ 15,596
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,204 1,143
Stock compensation expense 394 330
Provision for loan losses (1,500) (750)
Origination of loans for sale (18,548) (86,498)
Proceeds from sales of loans originated for sale 19,300 90,494
Net gains on mortgage loans (508) (3,326)
Write-down of other real estate 0 4
Net loss on sales of other real estate 0 20
Deferred income tax expense (benefit) 533 (144)
Earnings in bank-owned life insurance (470) (526)
Change in accrued interest receivable and other assets (2,008) 1,384
Change in accrued expenses and other liabilities 66 (803)
Net cash from operating activities 11,031 16,924
Cash flows from investing activities    
Loan originations and payments, net (2,680) 191,152
Purchases of securities available for sale (186,326) (50,605)
Purchases of securities held to maturity (137,355) (51,232)
Purchase of bank-owned life insurance 0 (10,000)
Proceeds from:    
Maturities and calls of securities 22,746 31,013
Principal paydowns on securities 43,968 23,429
Sales of other real estate 0 170
Proceeds from redemption of FHLB stock 1,347 0
Proceeds from payout of bank-owned insurance claim 0 560
Additions to premises and equipment (466) (861)
Net cash from investing activities (258,766) 133,626
Cash flows from financing activities    
Change in deposits (83,375) 301,489
Repayments and maturities of other borrowed funds (80,000) (10,000)
Proceeds from other borrowed funds 25,000 0
Repurchase of shares for taxes withheld on vested restricted stock (20) (12)
Cash dividends paid (5,456) (5,446)
Net cash from financing activities (143,851) 286,031
Net change in cash and cash equivalents (391,586) 436,581
Cash and cash equivalents at beginning of period 1,151,788 783,736
Cash and cash equivalents at end of period 760,202 1,220,317
Supplemental cash flow information    
Interest paid 1,106 1,535
Income taxes paid 3,000 4,000
Supplemental noncash disclosures:    
Security settlement 1,662 736
Transfer of securities from available for sale to held to maturity $ 123,469 $ 0

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