XML 29 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows From Operating Activities:      
Net income $ 41,353 $ 33,433 $ 18,694
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 6,282 7,067 5,132
Provision for loan losses 1,600 2,325 1,800
Provision for deferred taxes (1,521) 6,962 2,966
Increase in cash surrender value of life insurance 1,857 1,778 1,284
Stock-based compensation expense 4,901 3,064 1,608
Assets (gains) losses, net (1,169) (2,029) (54)
Gain on sale of loans held for sale, net (5,499) (4,777) (5,248)
Proceeds from sale of loans held for sale 241,739 222,879 255,704
Origination of loans held for sale (234,416) (219,696) (252,771)
Net change in accrued interest receivable and other assets 666 5,360 (301)
Net change in accrued interest payable and other liabilities 242 (1,377) (2,042)
Net cash provided by operating activities 50,989 40,713 24,806
Cash Flows From Investing Activities:      
Net decrease in certificates of deposit in other banks 753 2,238 1,432
Purchases of securities AFS (76,564) (63,117) (82,448)
Proceeds from sales of securities AFS 5,280 10,798 31,442
Proceeds from calls and maturities of securities AFS 66,706 47,569 35,641
Net (increase) decrease in loans (71,629) (160,624) 2,805
Purchases of other investments (1,550) (3,320) (3,447)
Proceeds from sales of other investments 807 6,678  
Net increases in premises and equipment 4,260 2,018 4,048
Proceeds from sales of other real estate and other assets 2,824 1,724 1,999
Purchase of BOLI   0 (20,000)
Proceeds from redemption of BOLI 561 0 21,549
Net cash received in business combinations 0 9,119 66,517
Net cash provided by (used in) investing activities (77,072) (150,953) 51,442
Cash Flows From Financing Activities:      
Net increase in deposits 143,153 126,782 91,236
Net decrease in short-term borrowings 0 0 (49,087)
Proceeds from long-term borrowings 0 30,000 0
Repayments of long-term borrowings 1,253 9,549 56,519
Distribution to noncontrolling interest (275) 0 0
Capitalized issuance costs, net 0 (186) (260)
Purchase and retirement of common stock (22,749) (15,007) (5,201)
Proceeds from issuance of common stock, net 1,800 4,030 1,900
Redemption of preferred stock   0 (12,200)
Cash dividends paid on preferred stock   0 (633)
Net cash provided by (used in) financing activities 120,676 136,070 (30,764)
Net increase in cash and cash equivalents 94,593 25,830 45,484
Cash and cash equivalents:      
Beginning cash and cash equivalents 154,933 [1] 129,103 [1] 83,619
Supplemental Disclosures of Cash Flow Information:      
Cash paid for interest 18,537 10,932 7,508
Cash paid for taxes 10,821 12,789 7,150
Transfer of loans and bank premises to other real estate owned 607 828 237
Capitalized mortgage servicing rights 1,203 876 1,023
Transfer of loans from held for sale to held for investment 0 3,236 0
Acquisitions:      
Fair value of assets acquired 0 439,000 1,039,000
Fair value of liabilities assumed 0 398,000 939,000
Net assets acquired 0 41,000 100,000
Common stock issued in acquisitions $ 0 $ 62,246 $ 165,295
[1] Cash and cash equivalents include restricted cash of $6.3 million and $5.4 million at December 31, 2018 and 2017, respectively, for the reserve balance required with the Federal Reserve Bank. There was no reserve balance required at December 31, 2016.