XML 17 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 27,413 $ 22,818
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,918 2,023
Deferred taxes 163 123
Stock-based compensation 400 302
Provision for loan losses 2,875 3,993
Write-downs of other real estate owned and other repossessed assets 1,320 1,987
Gains on sale of mortgage loans held for sale (583) (507)
Securities (gains) losses 286 (10)
Gain on debt repurchase 0 (560)
(Gains) losses on sale of assets, net (69) 10
Proceeds from sale of mortgage loans held for sale 26,254 22,859
Funding of mortgage loans held for sale (25,731) (25,732)
Amortization of securities premiums and discounts, net 2,407 1,551
Change in cash surrender value of bank owned life insurance (2,191) (708)
Mortgage servicing rights:    
Fair value adjustments (77) 301
New servicing assets created (211) (172)
Changes in:    
Other assets (6,288) (1,966)
Other liabilities 8,179 2,756
Net cash provided by operating activities 36,065 29,068
Certificates of deposit in other banks:    
Purchase of certificates of deposit 0 (11,515)
Maturity of certificates of deposit 4,165 235
Securities available-for-sale (AFS):    
Purchase of AFS securities (131,770) (77,344)
Proceeds from the sales of AFS securities 57,079 3,261
Proceeds from prepayments and maturities of AFS securities 64,535 70,304
Securities held-to-maturity (HTM):    
Proceeds from maturities of HTM securities 0 8
Change in loans, net (49,769) (151,624)
Purchase of premises and equipment (2,083) (1,187)
Proceeds from sale and retirement of premises and equipment 23 25
Proceeds from sale of other real estate and repossessed assets 928 1,128
Proceeds from settlement of bank owned life insurance 3,678 0
Net cash used in investing activities (53,214) (166,709)
Cash flows from financing activities:    
Change in deposits, net 45,545 24,302
Change in repurchase agreements and federal funds purchased, net 5,633 8,547
Proceeds from Federal Home Loan Bank advances 0 100,000
Payments on advances from Federal Home Loan Bank (43) (50)
Repurchase of long-term debt 0 (1,440)
Issuance of common stock 800 708
Dividends paid (11,675) (11,312)
Net cash provided by financing activities 40,260 120,755
Net increase (decrease) in cash and cash equivalents 23,111 (16,886)
Cash and cash equivalents at beginning of period 175,274 144,716
Cash and cash equivalents at end of period 198,385 127,830
Supplemental disclosures:    
Income taxes paid 5,100 6,400
Interest paid 10,898 6,912
Non-cash activities:    
Loans to facilitate the sale of other real estate owned and repossessed assets 2,406 1,574
Common stock dividends accrued, paid in subsequent quarter 202 204
Real estate acquired in settlement of loans $ 2,843 $ 1,434