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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 67,557 $ 53,057 $ 41,791
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment, amortization of securities available for sale, and amortization of discount of junior subordinated debentures 8,169 9,808 10,704
Changes in net deferred loan costs, net of amortization 1,068 (150) (1,007)
Provision for loan losses 4,311 5,129 4,220
Net change in accrued interest receivable, prepaid expenses and other assets, and accrued expenses and other liabilities 5,748 10,195 11,634
Stock based compensation expense 3,231 2,744 2,103
Amortization of intangible assets 4,001 3,819 1,286
Origination of mortgage loans held for sale (72,216) (76,101) (108,696)
Proceeds from sale of mortgage loans held for sale 70,397 79,237 121,482
Earnings on bank owned life insurance (2,151) (1,753) (1,424)
Valuation adjustment on other real estate owned 51 49 0
Loss (gain) on sale of other real estate owned, net 227 0 (144)
Gain on sale of loans, net (2,424) (2,759) (7,696)
Gain on sale of investment securities, net (330) (137) (6)
Gain on sale of assets held for sale (169) (798) (747)
Impairment of assets held for sale 102 75 0
Impairment of assets held for sale 117 0 0
(Gain) loss on sale of premises and equipment, net (75) 32 13
Net cash provided by operating activities 87,614 82,447 73,513
Cash flows from investing activities:      
Loans originated, net of principal payments (121,266) (98,563) (235,154)
Maturities, calls and payments of investment securities available for sale 242,348 92,563 98,894
Purchase of investment securities available for sale (242,776) (342,141) (149,914)
Proceeds from sales of investment securities available for sale 43,962 156,014 31,028
Purchase of premises and equipment (13,041) (23,265) (3,063)
Proceeds from sales of other loans 3,562 9,993 28,874
Proceeds from sales of other real estate owned 864 198 930
Proceeds from sales of assets held for sale 1,664 1,908 1,849
Proceeds from redemption of Federal Home Loan Bank stock 18,032 26,538 30,018
Purchases of Federal Home Loan Bank stock (18,333) (22,524) (30,801)
Proceeds from sales of premises and equipment 96 28 0
Purchase of bank owned life insurance (8,053) (54) (4,394)
Proceeds from bank owned life insurance death benefit 0 0 1,101
Capital contributions to low-income housing tax credit partnerships and new market tax credit partnerships, net (27,485) (8,303) (10,762)
Net cash received from acquisitions 0 105,974 0
Net cash used in investing activities (120,426) (101,634) (241,394)
Cash flows from financing activities:      
Net increase in deposits 150,274 214,740 163,412
Federal Home Loan Bank advances 445,800 554,950 763,350
Repayment of Federal Home Loan Bank advances (445,800) (663,450) (750,450)
Common stock cash dividends paid (30,908) (25,791) (18,305)
Net (decrease) increase in securities sold under agreement to repurchase (11,318) (796) 9,717
Proceeds from exercise of stock options 58 133 164
Repurchase of common stock (8,636) (1,704) (737)
Net cash provided by financing activities 99,470 78,082 167,151
Net increase (decrease) in cash and cash equivalents 66,658 58,895 (730)
Cash and cash equivalents at beginning of year 161,910 103,015 103,745
Cash and cash equivalents at end of year 228,568 161,910 103,015
Supplemental disclosures of cash flow information:      
Cash paid for interest 17,867 12,385 8,399
Cash paid for income taxes, net of refunds 7,528 5,634 2,045
Supplemental non-cash disclosures of cash flow information:      
Transfers of loans receivable to other real estate owned 0 434 32
Transfers of properties held for sale recorded in premises and equipment, net to prepaid expenses and other assets 1,533 1,836 2,687
Investment in low income housing tax credit partnership and related funding commitment 46,677 0 33,171
Transfer of bank owned life insurance to prepaid expenses and other assets 209 421 0
Business Combinations:      
Common stock issued in business combinations 0 230,043 0
Assets acquired (liabilities assumed) in acquisitions:      
Investment securities available for sale 0 84,846 0
Loans receivable 0 718,620 0
Other real estate owned 0 1,796 0
Premises and equipment 0 3,785 0
Federal Home Loan Bank stock 0 1,743 0
Accrued interest receivable 0 2,454 0
Bank owned life insurance 0 17,116 0
Prepaid expenses and other assets 0 2,957 0
Other intangible assets 0 18,345 0
Goodwill 0 121,910 0
Deposits 0 (824,602) 0
Federal Home Loan Bank advances 0 (16,000) 0
Securities sold under agreement to repurchase 0 (462) 0
Accrued expenses and other liabilities $ 0 $ (8,439) $ 0