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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 17,450 $ 12,725
Adjustments to net income:    
Depreciation and amortization expense 1,849 1,636
Amortization of Loan Fees and Discounts (131) (75)
Provision for loan losses 4,725 3,263
Share-based compensation expense 670 377
(Gain) loss on sale and disposal of premises and equipment (15) 23
Loss on sale of other real estate owned 51 17
Write down of other real estate owned 41 0
Amortization of premium/discounts on securities held for sale, net 2,804 1,958
Accretion of loan mark-to-market discount from acquisitions (1,964) (1,632)
Gain on sale of investment securities available for sale (293) (523)
Other-than-temporary impairment recovery on investment securities, net 0 (28)
Gain on sale of loans held for investment (5,265) (3,621)
Recoveries on loans 56 87
Principal payments from loans held for sale 0 31
Loss from fair market value adjustment to loans held for sale 0 180
Deferred income tax benefit (provision) 1,006 (2,244)
Change in accrued expenses and other liabilities, net 209 2,310
Income from bank owned life insurance, net (855) (591)
Amortization of core deposit intangible 1,003 761
Change in accrued interest receivable and other assets, net (6,905) (3,756)
Net cash provided by operating activities 14,436 10,898
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of loans 120,335 51,213
Payments for (Proceeds from) Loans and Leases (320,152) (272,960)
Proceeds from sale of other real estate owned 234 777
Principal payments on securities available for sale 25,517 21,535
Purchase of securities available for sale (90,032) (129,636)
Proceeds from sale or maturity of securities available for sale 26,520 91,907
Investment in bank owned life insurance 0 (2,000)
Proceeds from the sale of premises and equipment 1,623 0
Purchases of premises and equipment (1,097) (1,123)
Purchase of Federal Reserve Bank stock (1,904) (1,520)
Purchase of FHLB stock (1,150) (1,673)
Cash acquired (disbursed) in acquisitions, net 2,961 (7,793)
Net cash used in investing activities (237,145) (251,273)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposit accounts 172,363 237,180
Proceeds from issuance of subordinated debt 0 58,804
Change in FHLB advances and other borrowings, net 41,540 (76,147)
Proceeds from exercise of stock options 69 113
Warrants exercised 689 0
Repurchase of common stock (116) (2,757)
Net cash provided by financing activities 214,545 217,193
NET DECREASE IN CASH AND CASH EQUIVALENTS (8,164) (23,182)
CASH AND CASH EQUIVALENTS, beginning of period 110,925 126,813
CASH AND CASH EQUIVALENTS, end of period 102,761 103,631
SUPPLEMENTAL CASH FLOW DISCLOSURES    
Interest paid 9,877 4,615
Income taxes paid 11,962 11,450
Assets acquired (liabilities assumed and capital created) in acquisitions (See Note 4):    
Investment securities 53,752 0
FHLB and Other Stock 2,369 0
Loans 332,893 78,833
Core deposit intangible 2,903 0
Deferred income tax 4,794 0
Bank owned life insurance 11,276 0
Goodwill 27,882 5,522
Fixed assets 2,134 74
Other assets 2,402 702
Deposits (336,018) 0
Other borrowings (33,300) (67,617)
Other liabilities (1,796) (709)
Common stock and additional paid-in capital (72,252) (9,012)
NONCASH INVESTING ACTIVITIES DURING THE PERIOD    
Transfers from loans to other real estate owned 0 360
Investment securities available for sale purchased and not settled 0 5,982
Loans held for sale transfered to loans held for investment $ 0 $ 2,936