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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 65,124 $ 45,200
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 6,448 6,581
Allocation of ESOP stock 1,182 1,249
Stock awards 3,140 2,530
Net excess tax benefit on stock compensation (243) (722)
Amortization of servicing asset 33 86
Net premium amortization in excess of discount accretion on securities 2,387 2,988
Net amortization of deferred costs on borrowings 161 196
Amortization of core deposit intangible 3,029 2,828
Net accretion of purchase accounting adjustments (10,588) (12,807)
Net amortization of deferred costs and discounts on loans 1,028 493
Provision for loan losses 1,281 2,984
Net loss on sale and write-down of other real estate owned 20 1,949
Write down of fixed assets held for sale to net realizable value 7,289 3,744
Net gain on sale of fixed assets (27) (26)
Net unrealized (gain) loss on equity securities (330) 282
Net gain on sales of loans (15) (654)
Proceeds from sales of mortgage loans held for sale 912 2,053
Mortgage loans originated for sale (1,007) (2,503)
Increase in value of Bank Owned Life Insurance (4,045) (3,813)
Net loss (gain) on sale of assets held for sale 5 (1,166)
Increase in interest and dividends receivable (462) (947)
Deferred tax provision 336 0
(Increase) decrease in other assets (27,786) 13,452
Increase (decrease) in other liabilities 34,110 (1,744)
Total adjustments 16,858 17,033
Net cash provided by operating activities 81,982 62,233
Cash flows from investing activities:    
Net (increase) decrease in loans receivable (92,658) 85,935
Proceeds from sale of under performing loans 5,901 8,724
Purchase of loans receivable (101,674) (147,563)
Purchase of debt investment securities available-for-sale (35,106) (28,010)
Purchase of debt investment securities held-to-maturity (3,577) (4,017)
Purchase of equity investments (160) (138)
Proceeds from maturities and calls of debt investment securities available-for-sale 28,447 14,001
Proceeds from maturities and calls of debt investment securities held-to-maturity 25,547 38,540
Proceeds from Bank Owned Life Insurance 716 2,708
Proceeds from the redemption of restricted equity investments 85,894 83,806
Purchases of restricted equity investments (90,892) (104,408)
Proceeds from sales of other real estate owned 2,060 646
Proceeds from sales of assets held for sale 412 7,488
Purchases of premises and equipment (3,245) (10,424)
Cash consideration received (paid) for acquisition, net of cash received 59,395 (3,743)
Net cash (used in) provided by investing activities (28,324) 37,968
Cash flows from financing activities:    
Decrease in deposits (42,306) (103,522)
Increase in short-term borrowings 107,307 122,376
Proceeds from Federal Home Loan Bank advances 35,000 0
Repayments of Federal Home Loan Bank advances (76,618) (56,607)
Repayments of other borrowings (216) (342)
Increase in advances by borrowers for taxes and insurance 2,164 5,498
Exercise of stock options 1,145 4,936
Payment of employee taxes withheld from stock awards (2,786) (3,235)
Purchase of treasury stock (18,054) 0
Acquisition of common stock by ESOP 0 (8,400)
Dividends paid (25,943) (21,425)
Net cash used in financing activities (20,307) (60,721)
Net increase in cash and due from banks and restricted cash 33,351 39,480
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 140,901 148,362
Restricted cash at end of period 14,778 731
Cash and due from banks and restricted cash at end of period 155,679 149,093
Cash paid during the period for:    
Interest 39,293 26,637
Income taxes 16,506 143
Accretion of unrealized loss on securities reclassified to held-to-maturity 629 2,690
Net loan charge-offs 1,222 1,884
Transfer of premises and equipment to assets held-for-sale 1,607 11,092
Transfer of loans receivable to other real estate owned 993 640
Non-cash assets acquired:    
Securities 103,775 254,522
Restricted equity investments 313 16,967
Loans 307,778 1,517,172
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 3,829 57,712
Other assets 1,405 5,246
Goodwill and other intangible assets, net 38,780 199,500
Total non-cash assets acquired 471,119 2,161,870
Liabilities assumed:    
Deposits 449,018 1,616,073
Borrowings 0 127,747
Other liabilities 5,015 11,752
Total liabilities assumed 454,033 1,755,572
Debt Securities    
Cash flows from investing activities:    
Principal repayments on debt mortgage-backed securities held-to-maturity 1,334 2,706
Mortgage-backed Securities Held-to-Maturity    
Cash flows from investing activities:    
Principal repayments on debt mortgage-backed securities held-to-maturity $ 89,282 $ 91,717