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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 $ 40,461 $ 35,331 $ 23,828
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of discounts and premiums on securities 2,590 3,788 4,344
(Gain) loss on sale of securities available-for-sale (661) (266) 6
(Gain) on sale of SBA loans (689) (698) (1,108)
Proceeds from sale of SBA loans originated for sale 10,096 11,765 14,733
SBA loans originated for sale (8,504) (15,214) (13,730)
Provision for loan losses 846 7,421 99
Increase in cash surrender value of life insurance (1,404) (1,045) (1,666)
Depreciation and amortization 846 753 786
Amortization of other intangible assets 2,739 1,943 1,361
Stock option expense, net 640 708 838
Amortization of restricted stock awards, net 1,283 1,109 912
Amortization of subordinated debt issuance costs 185 186 110
Effect of changes in:      
Accrued interest receivable and other assets 8,407 1,572 10,497
Accrued interest payable and other liabilities (6,492) 1,219 348
Net cash provided by operating activities 50,343 48,572 41,358
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of securities available-for-sale (111,954) (162,806) (144,898)
Purchase of securities held-to-maturity (50,041) (31,496) (120,505)
Maturities/paydowns/calls of securities available-for-sale 53,566 57,142 57,862
Maturities/paydowns/calls of securities held-to-maturity 59,361 50,773 44,277
Proceeds from sales of securities available-for-sale 167,551 94,291 6,536
Net change in loans 33,810 38,394 (77,199)
Changes in Federal Home Loan Bank stock and other investments 1,161 (4,483) (2,715)
Purchase of premises and equipment (203) (187) (649)
Cash received in bank acquisition, net of cash paid 117,988 36,028  
Net cash provided by (used in) investing activities 271,239 77,656 (237,291)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net change in deposits 2,977 (262,085) 220,849
Issuance of subordinated debt, net of issuance costs     39,073
Redemption of subordinated debt (10,000)    
Payment for early debt extinguishment penalty (300)    
Net change in short-term borrowings (114)    
Exercise of stock options 1,626 2,667 1,368
Common stock offering costs (246)    
Payment of cash dividends (22,723) (18,464) (15,238)
Net cash provided by (used in) financing activities (28,780) (277,882) 246,052
Net increase (decrease) in cash and cash equivalents 292,802 (151,654) 50,119
Cash and cash equivalents, beginning of period 164,568 316,222 266,103
Cash and cash equivalents, end of period 457,370 164,568 316,222
Supplemental disclosures of cash flow information:      
Interest paid 9,935 7,528 5,166
Income taxes paid 17,730 12,838 17,256
Supplemental schedule of non-cash activity:      
Recording of right to use assets in exchange for lease obligations 9,566    
Transfer of loans held-for-sale to loan portfolio $ 694 $ 4,917 $ 2,391