As Reported pages

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD

Cash Flows from Operating Activities

Net income 39,006 49,694 62,726 98,928 49,554

Adjustments to reconcile net income to net cash provided by operating activities

Provision for loan losses 1,600 5,550 5,303 4,429 4,628
Amortization of intangible assets (excluding Mortgage Servicing Rights ("MSR")) 3,192 4,438 5,245 5,854 4,506
Amortization of mortgage servicing rights NA NA NA NA 1,222
Depreciation and amortization of premises and equipment 5,697 7,295 8,577 9,556 5,674
Net amortization (accretion) of premium (discount) on portfolio loans (1,476) (7,429) (12,205) (10,452) (5,729)
Net amortization (accretion) of premium (discount) on investment securities NA NA NA NA 2,843
Net amortization (accretion) of premium (discount) on time deposits NA NA NA NA (802)
Net amortization (accretion) of premium (discount) on Federal Home Loan Bank ("FHLB") advances and other borrowings NA NA NA NA 125
Impairment of other real estate owned ("OREO") NA NA NA NA 18
Impairment of fixed assets held for sale 670 756 99 817 0
Impairment of MSR NA NA NA NA 1,822
Change in fair value of loans held for sale, net NA NA NA NA (800)
Change in fair value of equity securities, net NA 0 0 4,618 800
(Gain) loss on sales of securities, net (380) (1,232) (1,143) (331) 184
(Gain) loss on sale of loans, net (5,843) (28,299) (45,443) (10,446) (5,615)
(Gain) loss on sale of OREO NA NA NA NA (83)
(Gain) loss on sale of premises and equipment 355 251 (327) 162 116
(Gain) loss life insurance proceeds NA NA NA NA (1,016)
Provision for deferred income taxes 2,985 2,953 13,907 7,219 3,816
Amortization of security premiums and discounts, net 8,360 6,877 6,711 8,412 NA
Accretion of premiums and discounts on time deposits and trust preferred securities, net 0 (669) (226) (97) NA
Stock-based and non-cash compensation 1,418 1,803 2,752 3,721 2,031
Decrease in deferred compensation 201 142 (757) (3,780) (3,339)
Increase in cash surrender value of bank owned life insurance (1,454) (1,522) (1,997) (1,754) (1,970)
Mortgage loans originated for sale (267,737) (1,822,027) (1,487,726) (425,322) (244,781)
Proceeds from sales of mortgage loans 276,377 1,767,220 1,693,632 504,721 239,252
Net change in operating assets and liabilities
(Increase) decrease in other assets (137) (407) 8,423 4,097 1,176
(Decrease) in other liabilities (1,329) (6,288) (4,193) 2,195 (16,268)
Net cash provided by operating activities 61,505 (20,894) 253,358 202,547 37,364

Cash Flows from Investing Activities

Purchases of debt securities held to maturity (16,287) (2,103) (352,679) (217,766) 0
Purchases of debt securities available for sale (235,291) (180,447) (141,685) (124,234) (227,182)
Purchase of FHLB stock 0 NA NA NA (3,700)
Proceeds from sales of equity securities 0 0 0 920 958
Proceeds from sales of debt securities available for sale 25,068 52,587 139,765 122,584 227,371
Proceeds from paydowns and maturities of debt securities held to maturity 480 3,811 11,268 50,560 13,922
Proceeds from paydowns and maturities of debt securities available for sale 200,780 241,304 193,294 163,582 146,566
Proceeds from sales of securities classified held to maturity NA 399 0 0 NA
Proceeds from the redemption of FHLB stock 0 11,919 6,090 4,864 3,720
Net cash (received) paid in acquisitions 12,114 25,575 26,979 0 (49,387)
Net change in loans (118,398) (1,294) (169,150) (49,864) (89,642)
Cash paid for premiums on bank-owned life insurance NA NA NA NA (3)
Purchases of premises and equipment (4,114) (8,991) (14,980) (11,618) (5,918)
Proceeds from life insurance NA NA NA NA 1,672
Proceeds from disposition of premises and equipment 312 2,485 2,224 324 3
Capitalized expenditures on OREO NA NA NA NA (2)
Proceeds from sale of OREO 1,090 4,498 5,024 5,298 1,119
Net cash provided by (used in) investing activities (134,246) 149,743 (293,850) (55,350) 19,497

Cash Flows from Financing Activities

Net change in deposits NA NA NA NA 145,499
Net increase (decrease) in certificates of deposit (86,574) (173,385) 100,600 161,085 NA
Net (decrease) increase in demand deposits, money market and savings accounts 232,931 31,322 11,188 (37,485) NA
Net change in federal funds purchased and securities sold under agreements to repurchase (25,921) (6,655) 28,898 (118,770) (45,549)
Proceeds from short-term borrowings, net 0 (104,000) 60,300 (220,000) NA
Repayment of subordinated debt NA 0 0 (5,500) NA
Net proceeds from issuance of senior debt 0 0 39,326 0 NA
Cash payment for fractional shares related to Reverse Stock Split (5) NA NA NA NA
Net proceeds from issuance of subordinated debt 0 0 49,186 0 NA
Proceeds from other borrowings NA NA NA NA 60,000
Repayment of FHLB advances, net NA NA NA NA (2,297)
Repayment of other borrowings NA NA NA NA (3,000)
Cash dividends paid (18,619) (22,748) (30,707) (39,010) (21,947)
Repayment of long-term debt 30,000 (4,906) (30,000) 0 NA
Purchase of treasury stock (6,296) NA NA NA (8,433)
Cash paid for withholding taxes on share based payments (269) (809) (2,274) (1,208) (835)
Redemption of SBLF preferred stock (72,664) NA NA NA NA
Proceeds from stock options exercised 0 4 906 392 169
Common stock issuance costs 0 (246) (365) 0 (234)
Net cash provided by (used in) financing activities 52,583 (281,423) 227,058 (260,496) 123,373
Net increase in cash and cash equivalents (20,158) (152,574) 186,566 (113,299) 180,234
Cash and cash equivalents, beginning of period 339,438 319,280 166,706 353,272 239,973
Cash and cash equivalents, ending of period 319,280 166,706 353,272 239,973 420,207

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash Payments for

Interest 6,282 9,674 19,342 40,639 33,122
Income taxes 17,170 20,186 26,419 23,183 10,555

Non-cash Investing and Financing Activities

OREO acquired in settlement of loans 1,251 2,775 1,417 4,025 1,396
Other assets transferred to equity investments NA 0 0 4,000 NA
Transfer of debt securities held to maturity to available for sale NA NA NA NA 573,639
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
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