Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 7,778 $ 6,411
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 498 721
Stock compensation expense 164 109
Provision for loan losses 0 700
Origination of loans for sale (47,296) (29,356)
Proceeds from sales of loans originated for sale 45,418 31,334
Net gains on mortgage loans (2,015) (650)
Write-down of other real estate 4 31
Net loss on sales of other real estate 14 0
Deferred income tax expense (528) (271)
Change in accrued interest receivable and other assets 505 (3,138)
Earnings in bank-owned life insurance (276) (242)
Change in accrued expenses and other liabilities 421 4,276
Net cash from operating activities 4,687 9,925
Cash flows from investing activities    
Loan originations and payments, net 46,424 (8,725)
Purchases of securities available for sale (23,106) (49,894)
Purchases of securities held to maturity (10,172) (5,876)
Proceeds from:    
Maturities and calls of securities 14,239 26,544
Principal paydowns on securities 9,197 3,949
Sales of other real estate 148 91
Proceeds from payout of bank-owned insurance claim 560 0
Additions to premises and equipment (458) (624)
Net cash from investing activities 36,832 (34,535)
Cash flows from financing activities    
Change in deposits 89,358 (47,914)
Proceeds from other borrowed funds 0 10,000
Repurchase of shares for taxes withheld on vested restricted stock (5) (11)
Cash dividends paid (2,723) (2,720)
Net cash from financing activities 86,630 (40,645)
Net change in cash and cash equivalents 128,149 (65,255)
Cash and cash equivalents at beginning of period 783,736 272,450
Cash and cash equivalents at end of period 911,885 207,195
Supplemental cash flow information    
Interest paid 786 2,234
Income taxes paid 0 0
Supplemental noncash disclosures:    
Security settlement $ 0 $ (10,153)