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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 45,200 $ 32,514
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 6,581 4,606
Allocation of ESOP stock 1,249 692
Stock awards 2,530 1,678
Net excess tax benefit on stock compensation (722) (1,700)
Amortization of servicing asset 86 67
Net premium amortization in excess of discount accretion on securities 2,988 2,153
Net amortization of deferred costs on borrowings 196 33
Amortization of core deposit intangible 2,828 1,544
Net accretion of purchase accounting adjustments (12,807) (6,281)
Net amortization of deferred costs and discounts on loans 493 300
Provision for loan losses 2,984 3,030
Net loss on sale and write-down of other real estate owned 1,949 737
Write down of fixed assets held for sale to net realizable value 3,744 6,350
Net (gain) loss on sale of fixed assets (26) 13
Net unrealized loss on equity securities 282 0
Net gain on sales of loans (654) (74)
Proceeds from sales of mortgage loans held for sale 2,053 3,837
Mortgage loans originated for sale (2,503) (2,551)
Increase in value of Bank Owned Life Insurance (3,813) (2,436)
Net gain on sale of assets held for sale (1,166) 0
Increase in interest and dividends receivable (947) (1,638)
Decrease in other assets 13,452 4,012
(Decrease) increase in other liabilities (1,744) 15,810
Total adjustments 17,033 30,182
Net cash provided by operating activities 62,233 62,696
Cash flows from investing activities:    
Net decrease (increase) in loans receivable 85,935 (57,646)
Proceeds from sale of under performing loans 8,724 6,022
Purchase of loans receivable (147,563) (16,627)
Purchase of debt investment securities available-for-sale (28,010) (54,810)
Purchase of debt investment securities held-to-maturity (4,017) (111,593)
Purchase of debt mortgage-backed securities held-to-maturity 0 (120,210)
Purchase of equity investments (138) 0
Proceeds from maturities and calls of debt investment securities available-for-sale 14,001 0
Proceeds from maturities and calls of debt investment securities held-to-maturity 41,246 13,020
Proceeds from Bank Owned Life Insurance 2,708 310
Proceeds from the redemption of restricted equity investments 83,806 19,010
Purchases of restricted equity investments (104,408) (18,169)
Proceeds from sales of other real estate owned 646 2,777
Proceeds from sales of assets held for sale 7,488 0
Purchases of premises and equipment (10,424) (9,031)
Cash consideration paid for acquisition, net of cash received (3,743) 0
Net cash provided by (used in) investing activities 37,968 (273,634)
Cash flows from financing activities:    
(Decrease) increase in deposits (103,522) 163,182
Increase in short-term borrowings 122,376 5,391
Proceeds from Federal Home Loan Bank advances 0 10,000
Repayments of Federal Home Loan Bank advances (56,607) (1,438)
Repayments of other borrowings (342) 0
Increase in advances by borrowers for taxes and insurance 5,498 341
Exercise of stock options 4,936 3,192
Payment of employee taxes withheld from stock awards (3,235) (1,406)
Acquisition of common stock by ESOP (8,400) 0
Dividends paid (21,425) (14,439)
Net cash (used in) provided by financing activities (60,721) 164,823
Net increase (decrease) in cash and due from banks and restricted cash 39,480 (46,115)
Supplemental Disclosure of Cash Flow Information:    
Cash and due from banks and restricted cash at beginning of period 109,613  
Restricted cash at beginning of period 0 0
Cash and due from banks and restricted cash at beginning of period 109,613 301,373
Cash and due from banks and restricted cash at end of period 149,093 255,258
Restricted cash at end of period 731 0
Cash and due from banks and restricted cash at end of period 148,362 255,258
Cash paid during the period for:    
Interest 26,637 14,333
Income taxes 143 8
Non-cash activities:    
Accretion of unrealized loss on securities reclassified to held-to-maturity 2,690 865
Net loan charge-offs 1,884 1,629
Transfer of premises and equipment to assets held-for-sale 11,092 5,078
Transfer of loans receivable to other real estate owned 640 3,389
Non-cash assets acquired:    
Securities 254,522 0
Restricted equity investments 16,967 0
Loans 1,517,172 0
Premises and equipment 19,892 0
Accrued interest receivable 5,621 0
Bank Owned Life Insurance 85,238 0
Deferred tax asset 57,712 0
Other assets 5,246 0
Goodwill and other intangible assets, net 199,500 0
Total non-cash assets acquired 2,161,870 0
Liabilities assumed:    
Deposits 1,616,073 0
Borrowings 127,747 0
Other liabilities 11,752 0
Total liabilities assumed 1,755,572 0
Mortgage-backed Securities    
Cash flows from investing activities:    
Principal repayments on debt mortgage-backed securities held-to-maturity $ 91,717 $ 73,313