XML 115 R9.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated statements of cash flows - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:        
Net income $ 23,966,000 $ 21,377,000 $ 62,242,000 $ 63,196,000
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation expense 1,380,000 1,013,000 3,830,000 3,251,000
Amortization of core deposit and other intangibles 1,197,000 777,000 3,180,000 2,432,000
Capitalization of mortgage servicing rights     (30,319,000) (41,555,000)
Net change in fair value of mortgage servicing rights 10,611,000 1,872,000 23,832,000 (1,656,000)
Stock-based compensation expense     5,621,000 5,327,000
Provision for loan losses 1,831,000 1,818,000 4,103,000 3,198,000
Provision for mortgage loan repurchases 107,000 206,000 255,000 598,000
Accretion of yield on purchased loans     (6,030,000) (5,745,000)
Accretion of discounts and amortization of premiums on securities, net     2,113,000 2,108,000
(Gain) loss from securities, net 20,000 27,000 (75,000) 116,000
Originations of loans held for sale     (3,477,658,000) (4,777,814,000)
Repurchases of loans held for sale     (9,919,000) (7,892,000)
Proceeds from sale of loans held for sale     3,527,632,000 5,003,669,000
Gain on sale and change in fair value of loans held for sale     (72,749,000) (71,883,000)
Net (gain) loss or write-downs of other real estate owned 126,000 (120,000) (112,000) 43,000
Gain on other assets (44,000) (326,000) (52,000) (239,000)
Impairment of goodwill     100,000 0
Provision for deferred income taxes (1,449,000) (6,665,000) (5,900,000) 4,416,000
Changes in:        
Other assets and interest receivable     (50,509,000) (28,473,000)
Accrued expenses and other liabilities     4,243,000 (12,350,000)
Net cash (used in) provided by operating activities     (16,172,000) 140,747,000
Activity in available-for-sale securities:        
Sales 22,740,000 0 24,498,000 221,000
Maturities, prepayments and calls 28,694,000 20,068,000 78,861,000 54,576,000
Purchases     (92,059,000) (137,891,000)
Purchases of FHLB stock     (2,544,000) (2,020,000)
Net increase in loans     (295,791,000) (352,776,000)
Proceeds from sale of mortgage servicing rights     29,160,000 39,428,000
Purchases of premises and equipment     (4,052,000) (8,608,000)
Proceeds from the sale of premises and equipment     1,275,000 341,000
Proceeds from the sale of other real estate owned 854,000 1,457,000 2,718,000 3,666,000
Proceeds from the sale of other assets     0 869,000
Net cash received in business combination     171,032,000 0
Net cash used in investing activities     (86,902,000) (402,194,000)
Cash flows from financing activities:        
Net increase in demand deposits     231,763,000 100,724,000
Net (decrease) increase in time deposits     (70,594,000) 364,354,000
Net increase in securities sold under agreements to repurchase and federal funds purchased     1,546,000 35,824,000
Net increase (decrease) in FHLB advances     68,235,000 (172,451,000)
Share based compensation witholding payment     (3,552,000) (2,637,000)
Net proceeds from sale of common stock     804,000 1,196,000
Dividends paid     (7,487,000) (3,684,000)
Net cash provided by financing activities     220,715,000 323,326,000
Net change in cash and cash equivalents     117,641,000 61,879,000
Cash and cash equivalents at beginning of the period     125,356,000 119,751,000
Cash and cash equivalents at end of the period 242,997,000 181,630,000 242,997,000 181,630,000
Supplemental cash flow information:        
Interest paid     41,463,000 21,690,000
Taxes paid     21,377,000 19,137,000
Supplemental noncash disclosures:        
Transfers from loans to other real estate owned 1,535,000 476,000 3,565,000 1,490,000
Transfers from premises and equipment to other real estate owned at fair value 0 0 2,640,000 0
Loans provided for sales of other real estate owned 0 191,000 166,000 636,000
Transfers from loans to loans held for sale     5,460,000 0
Transfers from loans held for sale to loans     11,476,000 13,584,000
Trade date payable - securities     3,671,000 7,253,000
Dividends declared not paid on restricted stock units $ 168,000 $ 134,000 168,000 134,000
Decrease to retained earnings for adoption of new accounting standards     1,309,000 109,000
Right-of-use assets obtained in exchange for operating lease liabilities     39,011,000 0
GNMA        
Supplemental noncash disclosures:        
Derecognition of rebooked GNMA delinquent loans     $ 0 $ 43,035,000