Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 21,169 $ 23,807
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 2,105 1,675
Stock compensation expense 360 274
Provision for loan losses 2,200 (450)
Origination of loans for sale (120,171) (53,709)
Proceeds from sales of loans originated for sale 124,002 54,457
Net gains on mortgage loans (4,045) (1,650)
Write-down of other real estate 32 10
Net (gain) loss on sales of other real estate 0 (79)
Deferred income tax expense (1,174) 222
Change in accrued interest receivable and other assets (7,450) (5,173)
Earnings in bank-owned life insurance (688) (737)
Change in accrued expenses and other liabilities 4,483 4,391
Net cash from operating activities 20,823 23,038
Cash flows from investing activities    
Loan originations and payments, net (159,550) 29,150
Purchases of securities available for sale (102,158) (23,023)
Purchases of securities held to maturity (29,745) (17,778)
Proceeds from:    
Maturities and calls of securities 86,667 45,839
Principal paydowns on securities 27,423 6,324
Sales of other real estate 92 340
Additions to premises and equipment (2,103) (1,001)
Net cash from investing activities (179,374) 39,851
Cash flows from financing activities    
Change in deposits 417,285 143,401
Repayments and maturities of other borrowed funds 0 (10,000)
Proceeds from other borrowed funds 10,000 10,000
Repurchase of shares for taxes withheld on vested restricted stock (24) (5)
Cash dividends paid (8,160) (7,133)
Net cash from financing activities 419,101 136,263
Net change in cash and cash equivalents 260,550 199,152
Cash and cash equivalents at beginning of period 272,450 171,284
Cash and cash equivalents at end of period 533,000 370,436
Supplemental cash flow information    
Interest paid 5,043 9,646
Income taxes paid 5,315 5,100
Supplemental noncash disclosures:    
Security settlement $ 1,937 $ 650