XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:        
Net income $ 11,712 $ 10,674 $ 9,737 $ 17,959
Adjustments to reconcile net income to net cash provided by operating activities:        
Credit loss expense 4,685 696 26,418 2,290
Depreciation, amortization, and accretion     2,342 4,473
Net loss on sale of premises and equipment     61 40
Share-based compensation     734 604
Net gain on sale or call of debt securities available for sale     (48) (49)
Net (gain) loss on sale of foreclosed assets, net     (45) 1
Writedown of foreclosed assets     164 0
Net gain on sale of loans held for sale     (2,696) (821)
Origination of loans held for sale     179,415 50,900
Proceeds from sales of loans held for sale     175,463 49,429
Increase in cash surrender value of bank-owned life insurance     (786) (862)
Increase in deferred income taxes, net     (6,680) (76)
Change in:        
Other assets     (9,761) 1,028
Other liabilities     13,226 (4,866)
Net cash provided by operating activities     28,714 18,250
Cash flows from investing activities:        
Proceeds from sales of debt securities available for sale     22,146 125,414
Proceeds from maturities and calls of debt securities available for sale     78,311 49,699
Purchases of debt securities available for sale     (452,716) (112,256)
Proceeds from maturities and calls of debt securities held to maturity     0 3,117
Net increase in loans, net of unearned income     (142,475) (5,482)
Purchases of premises and equipment     (803) (1,242)
Proceeds from sale of foreclosed assets     2,637 763
Proceeds from sale of premises and equipment     2 0
Net cash acquired in business acquisition     0 37,054
Proceeds from sale of intangible assets     0 99
Net cash (used in) provided by investing activities     (492,898) 97,166
Cash flows from financing activities:        
Deposits     536,589 33,449
Short-term borrowings     22,875 (38,354)
Long-term debt     (41,713) (27,250)
Taxes paid relating to the release/lapse of restriction on RSUs     (139) (88)
Dividends paid     (7,098) (4,926)
Payment of stock issuance costs     0 (323)
Repurchase of common stock     (2,604) (2,895)
Net cash provided by (used in) financing activities     507,910 (40,387)
Net increase in cash and cash equivalents     43,726 75,029
Cash and cash equivalents:        
Beginning of Period     73,484 45,480
Ending balance 117,210 120,509 117,210 120,509
Supplemental disclosures of cash flow information:        
Cash paid during the period for interest     18,039 15,493
Cash paid during the period for income taxes     3,505 1,405
Supplemental schedule of non-cash investing and financing activities:        
Transfer of loans to foreclosed assets, net     15 1,384
Investment securities purchased but not settled     30,192 0
Initial recognition of operating lease right of use asset 4,067   4,067  
Initial recognition of operation lease liability 5,036   5,036  
Noncash assets acquired:        
Goodwill 93,977   93,977  
ATBancorp        
Noncash assets acquired:        
Debt securities available for sale 0 99,056 0 99,056
Loans 0 1,137,880 0 1,137,880
Premises and equipment 0 19,213 0 19,213
Goodwill 0 28,722 0 28,722
Bank-owned life insurance 0 18,759 0 18,759
Foreclosed assets 0 3,767 0 3,767
Other assets 0 17,657 0 17,657
Total noncash assets acquired     0 1,353,284
Liabilities assumed:        
Deposits 0 1,079,094 0 1,079,094
Short-term borrowings 0 60,761 0 60,761
FHLB borrowings 0 82,771 0 82,771
Junior subordinated notes issued to capital trusts 0 17,557 0 17,557
Subordinated debentures 0 10,873 0 10,873
Other liabilities 0 25,613 0 25,613
Total liabilities assumed     0 1,276,669
ATBancorp | Core deposit intangible        
Noncash assets acquired:        
Core deposit intangible $ 0 $ 28,230 $ 0 $ 28,230