XML 19 R9.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 19,588 $ 19,754
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,172 1,106
Amortization of core deposit and other intangibles 729 853
Capitalization of mortgage servicing rights (8,720) (13,510)
Net change in fair value of mortgage servicing rights 4,358 (3,543)
Stock-based compensation expense 1,638 1,958
Provision for loan losses 1,391 317
Provision for mortgage loan repurchases 59 186
Accretion of yield on purchased loans (1,831) (1,687)
Accretion of discounts and amortization of premiums on securities, net 614 697
(Gain) loss from securities, net (43) 47
Originations of loans held for sale (932,125) (1,617,103)
Repurchases of loans held for sale (5,957) 0
Proceeds from sale of loans held for sale 986,454 1,707,527
Gain on sale and change in fair value of loans held for sale (18,151) (23,391)
Net loss or write-downs of other real estate owned 39 186
Gain on other assets (191) (68)
Provision for deferred income taxes (4,219) 5,482
Changes in:    
Other assets and interest receivable (22,511) (4,759)
Accrued expenses and other liabilities 10,133 (26,207)
Net cash provided by operating activities 32,427 47,845
Activity in available-for-sale securities:    
Sales 1,758 221
Maturities, prepayments and calls 20,814 16,503
Purchases (24,196) (81,990)
Net increase in loans (118,358) (74,928)
Proceeds from sale of mortgage servicing rights 29,160 0
Purchases of premises and equipment (911) (704)
Proceeds from the sale of premises and equipment 284 0
Proceeds from the sale of other real estate owned 716 1,432
Net cash used in investing activities (90,733) (139,466)
Cash flows from financing activities:    
Net increase in demand deposits 107,959 83,076
Net increase in time deposits 23,515 18,680
Net increase (decrease) in borrowings 1,402 (54,578)
Share based compensation witholding obligation (2,373) (2,277)
Net proceeds from sale of common stock 364 669
Dividends paid (2,503) 0
Net cash provided by financing activities 128,364 45,570
Net change in cash and cash equivalents 70,058 (46,051)
Cash and cash equivalents at beginning of the period 125,356 119,751
Cash and cash equivalents at end of the period 195,414 73,700
Supplemental cash flow information:    
Interest paid 10,820 6,066
Taxes paid 77 31
Supplemental noncash disclosures:    
Transfers from loans to other real estate owned 1,106 630
Transfers from other real estate owned to loans 166 120
Transfers from loans held for sale to loans 540 1,599
Trade date payable - securities 2,524 3,912
Dividends declared not paid on restricted stock units 84 0
Adjustment to retained earnings for adoption of new accounting standards (1,309) (109)
Right-of-use assets obtained in exchange for new operating lease liabilities 33,819 0
GNMA    
Supplemental noncash disclosures:    
Derecognition of rebooked GNMA delinquent loans $ 0 $ 43,035