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
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 15,596 $ 14,049
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,143 1,457
Stock compensation expense 330 251
Provision for loan losses (750) 1,700
Origination of loans for sale (86,498) (79,415)
Proceeds from sales of loans originated for sale 90,494 83,531
Net gains on mortgage loans (3,326) (2,499)
Write-down of other real estate 4 32
Net loss on sales of other real estate 20 0
Deferred income tax expense (144) (1,483)
Change in accrued interest receivable and other assets 1,384 (6,634)
Earnings in bank-owned life insurance (526) (472)
Change in accrued expenses and other liabilities (803) 5,190
Net cash from operating activities 16,924 15,707
Cash flows from investing activities    
Loan originations and payments, net 191,152 (180,106)
Purchases of securities available for sale (50,605) (77,214)
Purchases of securities held to maturity (51,232) (19,815)
Purchase of bank-owned life insurance (10,000) 0
Proceeds from:    
Maturities and calls of securities 31,013 64,342
Principal paydowns on securities 23,429 15,808
Sales of other real estate 170 92
Proceeds from payout of bank-owned insurance claim 560 0
Additions to premises and equipment (861) (805)
Net cash from investing activities 133,626 (197,698)
Cash flows from financing activities    
Change in deposits 301,489 364,997
Repayments and maturities of other borrowed funds (10,000) 0
Proceeds from other borrowed funds 0 10,000
Repurchase of shares for taxes withheld on vested restricted stock (12) (11)
Cash dividends paid (5,446) (5,440)
Net cash from financing activities 286,031 369,546
Net change in cash and cash equivalents 436,581 187,555
Cash and cash equivalents at beginning of period 783,736 272,450
Cash and cash equivalents at end of period 1,220,317 460,005
Supplemental cash flow information    
Interest paid 1,535 3,793
Income taxes paid 4,000 3,515
Supplemental noncash disclosures:    
Security settlement $ 736 $ 475