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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 40,153 $ 21,129
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 4,464 4,583
Allocation of ESOP stock 801 966
Stock awards 2,602 1,787
Net excess tax benefit on stock compensation (240) (572)
Amortization of servicing asset 22 72
Net premium amortization in excess of discount accretion on securities 1,638 2,065
Net amortization of deferred costs on borrowings 108 131
Amortization of core deposit intangible 2,020 1,834
Net accretion of purchase accounting adjustments (7,799) (8,804)
Net amortization of deferred costs and discounts on loans 348 295
Provision for loan losses 976 2,077
Net (gain) loss on sale and write-down of other real estate owned (30) 689
Write down of fixed assets held for sale to net realizable value 5,826 786
Net gain on sale of fixed assets (5) (27)
Net unrealized (gain) loss on equity securities (241) 212
Net gain on sales of loans (15) (623)
Proceeds from sales of mortgage loans held for sale 912 673
Mortgage loans originated for sale (897) (1,342)
Increase in value of Bank Owned Life Insurance (2,614) (2,476)
Net loss (gain) on sale of assets held for sale 5 (1,166)
(Increase) decrease in interest and dividends receivable (829) 206
Deferred tax provision 380 0
(Increase) decrease in other assets (19,916) 8,092
Increase in other liabilities 31,797 3,622
Total adjustments 19,313 13,080
Net cash provided by operating activities 59,466 34,209
Cash flows from investing activities:    
Net decrease in loans receivable 47,377 52,970
Proceeds from sale of under performing loans 2,325 4,294
Purchase of loans receivable (101,674) (121,690)
Purchase of debt investment securities available-for-sale (20,006) (28,010)
Purchase of debt investment securities held-to-maturity (3,577) (4,017)
Purchase of equity investments (106) (87)
Proceeds from maturities and calls of debt investment securities available-for-sale 16,624 13,829
Proceeds from maturities and calls of debt investment securities held-to-maturity 13,497 32,245
Proceeds from Bank Owned Life Insurance 313 2,708
Proceeds from the redemption of restricted equity investments 55,276 51,324
Purchases of restricted equity investments (57,604) (81,764)
Proceeds from sales of other real estate owned 1,335 283
Proceeds from sales of assets held for sale 412 4,631
Purchases of premises and equipment (1,660) (6,549)
Cash consideration received (paid) for acquisition, net of cash received 59,395 (3,743)
Net cash provided by (used in) investing activities 70,474 (21,573)
Cash flows from financing activities:    
Decrease in deposits (75,767) (138,626)
Increase in short-term borrowings 60,326 325,508
Repayments of Federal Home Loan Bank advances (55,992) (41,063)
Repayments of other borrowings (171) (192)
Increase in advances by borrowers for taxes and insurance 751 6,617
Exercise of stock options 795 5,317
Payment of employee taxes withheld from stock awards (2,591) (2,667)
Purchase of treasury stock (7,398) 0
Acquisition of common stock by ESOP 0 (8,400)
Dividends paid (17,304) (14,274)
Net cash (used in) provided by financing activities (97,351) 132,220
Net increase in cash and due from banks and restricted cash 32,589 144,856
Supplemental Disclosure of Cash Flow Information:    
Cash and due from banks at beginning of period 120,792 109,613
Cash and due from banks and restricted cash at beginning of period 122,328 109,613
Restricted cash at beginning of period 1,536 0
Cash and due from banks at end of period 148,327 254,469
Restricted cash at end of period 6,590 0
Cash and due from banks and restricted cash at end of period 154,917 254,469
Cash paid during the period for:    
Interest 25,544 16,213
Income taxes 11,266 129
Accretion of unrealized loss on securities reclassified to held-to-maturity 419 2,464
Net loan charge-offs 1,418 1,107
Transfer of premises and equipment to assets held-for-sale 1,262 9,225
Transfer of loans receivable to other real estate owned 789 640
Non-cash assets acquired:    
Securities 103,775 254,522
Restricted equity investments 313 16,967
Loans 307,703 1,517,346
Premises and equipment 3,389 19,892
Accrued interest receivable 1,390 5,621
Bank Owned Life Insurance 10,460 85,238
Deferred tax asset 3,844 57,943
Other assets 1,405 5,262
Goodwill and other intangible assets, net 38,835 200,369
Total non-cash assets acquired 471,114 2,163,160
Liabilities assumed:    
Deposits 449,018 1,616,073
Borrowings 0 127,747
Other liabilities 5,010 13,042
Total liabilities assumed 454,028 1,756,862
Debt Securities    
Cash flows from investing activities:    
Principal repayments on debt mortgage-backed securities held-to-maturity 759 2,133
Mortgage-backed Securities Held-to-Maturity    
Cash flows from investing activities:    
Principal repayments on debt mortgage-backed securities held-to-maturity $ 57,788 $ 59,870