XML 19 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 55,305 $ 23,697
Adjustments to net income:    
Depreciation and amortization expense 3,717 2,049
Provision for credit losses 4,014 4,190
Share-based compensation expense 3,917 2,796
Loss on sale and disposal of premises and equipment 52 200
Loss (gain) on sale of or write down of other real estate owned 21 (94)
Net amortization on securities 3,622 3,745
Net accretion of discounts/premiums for loans acquired and deferred loan fees/costs (1,258) 1,722
Gain on sale of investment securities available-for-sale (336) (2,093)
Originations of loans held for sale (72,699) (61,448)
Proceeds from the sales of and principal payments from loans held for sale 94,223 65,508
Gain on sale of loans (6,801) (5,698)
Deferred income tax expense 1,963 912
Change in accrued expenses and other liabilities, net 20,954 4,696
Income from bank owned life insurance, net (961) (849)
Amortization of core deposit intangible 4,269 2,272
Change in accrued interest receivable and other assets, net (3,383) 2,066
Net cash provided by operating activities 106,619 43,671
Cash flows from investing activities:    
Change in other real estate owned from sales 108 182
Increase in loans, net (88,772) (254,468)
Purchase of held-to-maturity securities (14,036) 0
Principal payments on held-to-maturity securities 318 798
Purchase of securities available-for-sale (181,536) (109,944)
Principal payments on securities available-for-sale (47,743) (33,671)
Proceeds from sale or maturity of securities available-for-sale 20,323 216,804
Proceeds from bank owned life insurance death benefit 0 199
Purchases of premises and equipment (4,663) (674)
Change in FHLB, FRB, and other stock, at cost (16,648) (9,569)
Change in cash acquired in acquisitions, net (456) 77,144
Net cash used in investing activities (237,619) (45,857)
Cash flows from financing activities:    
Net increase in deposit accounts 222,464 131,397
Net change in short-term borrowings (146,677) (59,321)
Repayment of long-term borrowings (10,500) 0
Proceeds from exercise of stock options and warrants 1,596 3,611
Repurchase of common stock (1,579) (1,077)
Net cash provided by financing activities 65,304 74,610
Net (decrease) increase in cash and cash equivalents (65,696) 72,424
Cash and cash equivalents, beginning of period 197,164 156,857
Cash and cash equivalents, end of period 131,468 229,281
Supplemental cash flow disclosures:    
Interest paid 20,053 8,828
Income taxes paid 17,491 1,858
Noncash investing activities during the period:    
Security settled (purchases) in subsequent period 5,033 (11,130)
Assets acquired (liabilities assumed and capital created) in acquisitions (See Note 4):    
Investment securities 0 442,923
FHLB and other stock 0 9,739
Loans 0 1,364,688
Core deposit intangible 0 28,123
Deferred income tax 0 11,623
Goodwill 0 268,075
Fixed assets 0 34,902
Other assets 0 45,475
Deposits 0 1,669,550
Other borrowings 0 139,034
Other liabilities 0 8,352
Common stock and additional paid-in capital $ 0 $ 464,982