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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 $ 14,822 $ 34,521 $ 28,099
Adjustments to reconcile net income to net cash from operating activities      
Depreciation and amortization on premises and equipment 1,800 1,713 1,482
Accretion of purchase accounting adjustments (700) (1,338) (1,078)
Net amortization of securities 6,876 8,083 10,129
Amortization of loan servicing right asset 1,289 867 934
Amortization of core deposit intangible 504 612 473
Amortization of debt issuance costs 179 178 178
Provision for loan losses 32,047 2,254 4,313
Deferred income tax (benefit) (6,957) 197 3,785
Excess tax benefit related to share-based compensation (86) (565) (484)
Origination of loans held for sale (655,546) (278,559) (357,983)
Proceeds from sale of loans held for sale 631,572 285,116 378,469
Loss (gain) on sale of loans held for investment 2,003 0 (226)
Gain on sale of loans held for sale (9,217) (6,286) (6,779)
(Gain) loss on sale of available for sale securities (2,043) 4,160 (896)
Income from bank owned life insurance (1,487) (1,535) (818)
(Gain) loss on sale of foreclosed assets 0 (81) 20
Stock-based compensation 5,917 6,569 2,802
Recognition of deferred gain on sale of loans (15) (15) (58)
Recognition of deferred gain on sale of foreclosed assets (14) (10) (14)
Net change in:      
Accrued interest receivable and other assets 6,597 (8,212) (9,536)
Accrued interest payable and other liabilities (3,730) 2,638 2,826
Net cash from operating activities 23,811 50,307 55,638
Available for sale securities:      
Sales 582,950 176,016 240,175
Purchases (208,661) (474,163) (664,894)
Maturities, prepayments and calls 145,203 359,859 175,457
Held to maturity securities:      
Purchases (4,909) (3,347) (4,266)
Maturities, prepayments and calls 8,116 11,999 16,326
Net change in loans 228,259 311,118 487,060
Proceeds from sale of loans held for investment 76,849 0 0
Purchase of bank owned life insurance 0 (119) (25,000)
Purchase of restricted equity securities (2,971) (2,463) (6,649)
Proceeds from sale of foreclosed assets 0 1,934 1,330
Purchases of premises and equipment, net (1,569) (2,551) (3,212)
Decrease (increase) in certificates of deposits at other financial institutions 4 (239) (1,800)
Net cash acquired from acquisition (See Note 2) 0 24,660 0
Capitalization of foreclosed assets 0 0 (35)
Net cash from investing activities 366,753 (219,532) (759,628)
Cash flows from financing activities      
(Decrease) Increase in deposits (224,223) 141,417 775,410
Increase (decrease) in federal funds purchased and repurchase agreements 0 (31,004) (52,297)
Proceeds from Federal Home Loan Bank advances 525,000 450,000 380,000
Repayment of Federal Home Loan Bank advances (738,500) (365,000) (240,000)
Proceeds from exercise of common stock warrants 0 0 150
Proceeds from exercise of common stock options 5,307 3,047 1,615
Proceeds from issuance of common stock, net of offering costs 0 (242) 0
Divestment of stock issued to 401(k) plan 0 (308) (256)
Purchase of treasury stock (717) 0 0
Noncontrolling interest distributions (2,636) 0 0
Noncontrolling interest distributions (16) (16) (16)
Net cash from financing activities (435,785) 197,894 864,606
Net change in cash and cash equivalents (45,221) 28,669 160,616
Cash and cash equivalents at beginning of period 280,212 251,543 90,927
Cash and cash equivalents at end of period 234,991 280,212 251,543
Supplemental information:      
Interest paid 74,031 63,847 34,562
Income taxes paid 9,994 10,892 15,680
Non-cash supplemental information:      
Fair value of stock and stock options issued related to Civic Bank acquisition (See FN 2) 0 33,174 0
Transfers from loans to foreclosed assets 0 350 2,818
Transfers from Held to Maturity to Available for Sale 116,203 $ 83,501 $ 0
Establishment of lease liability and right of use asset $ 43,723