XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 14,428,000 $ 17,080,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and core deposit intangibles amortization 1,811,000 1,826,000
Provision for loan losses 11,258,000 4,569,000
Excess tax benefit related to the exercise of stock options (989,000) (327,000)
Net amortization of premium on investments 2,550,000 2,048,000
Bank owned life insurance (440,000) (473,000)
Net accretion of discount on loans (536,000) (1,213,000)
Net amortization of discount on subordinated debentures 81,000 80,000
Net amortization of discount on certificates of deposit (3,000) (228,000)
Net gain on sale or write down of premises, equipment and other real estate 0 (60,000)
Net gain on sale of branch assets 0 (2,050,000)
Federal Home Loan Bank stock dividends (201,000) (60,000)
Stock based compensation expense 1,294,000 1,078,000
Increase in accrued interest receivable and other assets (4,091,000) (3,461,000)
Increase in accrued interest payable and other liabilities 2,052,000 2,483,000
Net cash provided by operating activities 27,214,000 21,292,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal paydowns of available for sale securities 2,007,007,000 2,564,916,000
Proceeds from sales of available for sale securities 9,000,000 0
Purchase of available for sale securities (2,019,843,000) (2,706,773,000)
Net change in total loans (314,816,000) (168,108,000)
Purchase of bank premises and equipment (1,517,000) (590,000)
Proceeds from sale of bank premises, equipment and other real estate 1,050,000 0
Net purchases of Federal Home Loan Bank stock 586,000 (9,309,000)
Net cash paid for the sale of branch assets 0 (5,250,000)
Net cash used in investing activities (318,533,000) (325,114,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in noninterest-bearing deposits 119,200,000 (9,514,000)
Net increase in interest-bearing deposits 297,235,000 177,873,000
Proceeds from borrowed funds 25,000,000 231,000,000
Paydowns on borrowed funds (103,000,000) (20,000,000)
Proceeds from the issuance of common stock, stock option exercises, restricted stock awards and the ESPP 3,213,000 1,076,000
Issuance of treasury stock 0 38,000
Net cash provided by financing activities 341,648,000 380,473,000
NET CHANGE IN CASH AND CASH EQUIVALENTS 50,329,000 76,651,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 142,098,000 148,431,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 192,427,000 225,082,000
SUPPLEMENTAL INFORMATION:    
Income taxes paid 6,000,000 9,100,000
Interest paid $ 10,929,000 $ 2,541,000