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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES      
Net income $ 37,411 $ 26,991 $ 12,003
Adjustments to reconcile net income to net cash from operating activities:      
Net amortization and accretion of investments 1,892 1,258 1,293
Net amortization of deferred loan (fees) costs 1,692 (448) (324)
Provision for loan losses 16,579 1,789 2,440
Depreciation and amortization 3,292 3,260 2,938
Stock-based compensation 2,353 1,759 1,267
Loans originated for sale (1,334,910) (1,604,825) (1,214,078)
Proceeds of loans sold 1,477,063 1,611,889 1,237,402
Holding gain on equity securities (374) (13,767) (590)
Mortgage fee income (33,427) (41,045) (32,337)
Gain on sale of available-for-sale securities (948) (105) (352)
Loss on sale of available-for-sale securities 34 271 25
Gain on sale of equity securities (3,501) 0 0
Loss on sale of equity securities 0 7 0
Gain on sale of portfolio loans (332) (520) (198)
Gains on acquisition and divestiture activity (17,640) 0 0
Income on bank-owned life insurance, including death benefit proceeds in excess of cash surrender value (888) (1,197) (1,182)
Deferred taxes (3,386) (3,953) 139
Amortization of operating lease right-of-use asset 86 10 0
Equity method investment income (27,574) 0 0
Return on equity method investment 3,400 0 0
Other assets (27,286) (14,753) (3,013)
Other liabilities 18,699 25,317 1,261
Net cash from operating activities 112,235 (8,062) 6,694
INVESTING ACTIVITIES      
Purchases of investment securities available-for-sale (269,790) (70,984) (31,068)
Maturities/paydowns of investment securities available-for-sale 64,493 33,583 25,748
Sales of investment securities available-for-sale 54,023 31,220 2,743
Purchases of premises and equipment, including premises and equipment included in assets of branches held-for-sale (6,615) (2,042) (2,693)
Disposals of premises and equipment 1,687 0 0
Net increase in loans and loans included in assets of branches held-for-sale (70,186) (113,076) (199,282)
Purchases of restricted bank stock (25,831) (49,600) (29,370)
Redemptions of restricted bank stock 38,048 45,853 25,681
Proceeds from sale of certificates of deposit with banks 1,739 2,229 0
Purchases of certificates of deposit with banks (993) 0 0
Proceeds from sale of other real estate owned 8,309 731 707
Purchase of bank-owned life insurance (5,000) (574) (1,149)
Proceeds from death benefit of bank-owned life insurance policies 0 688 706
Purchase of equity securities (9,918) (1,400) (2,000)
Sales of equity securities 4,622 5,968 0
Proceeds from divestitures (136,005) 0 0
Cash paid for acquisitions 57,306 (2,651) 0
Net cash from investing activities (294,111) (120,055) (209,977)
FINANCING ACTIVITIES      
Net increase in deposits and deposits in branches held-for-sale 574,691 144,158 149,574
Net change in repurchase agreements 94 (4,753) (7,478)
Net change in FHLB and other borrowings (180,283) 7,998 62,718
Subordinated debt issuance (redemption) 40,000 (12,400) 0
Subordinated debt issuance and conversion costs (717) 0 (35)
Common stock repurchased (15,746) 0 0
Preferred stock redemption 0 (500) 0
Common stock options exercised 4,464 2,164 2,129
Cash dividends paid on common stock (4,275) (2,290) (1,220)
Cash dividends paid on preferred stock (461) (479) (489)
Net cash from financing activities 417,767 133,898 205,199
Net change in cash and cash equivalents 235,891 5,781 1,916
Cash and cash equivalents at beginning of period 28,002 22,221 20,305
Cash and cash equivalents at end of period 263,893 28,002 22,221
Business combination non-cash disclosures:      
Assets acquired in business combinations (net of cash received) 87,722 3,389 0
Liabilities assumed in business combination 148,731 855 0
Supplemental disclosure of cash flow information:      
Loans transferred to other real estate owned 800 115 1,369
Employee stock-based compensation tax withholding obligations 35 57 161
Restricted stock units vested 49 10 1
Common stock converted from subordinated debt 0 1,000 15,965
Initial recognition of operating lease right-of-use assets 0 12,935 0
Initial recognition of operating lease liabilities 0 15,659 0
Common stock issued related to Paladin acquisition 240 0 0
Cash payments for:      
Interest on deposits, repurchase agreements and borrowings 12,271 22,970 17,277
Income taxes $ 11,966 $ 3,962 $ 191