XML 26 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]      
Net income $ 39,839 $ 20,475 $ 22,766
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH FROM OPERATING ACTIVITIES      
Proceeds from sales of loans held for sale 463,699 434,682 324,828
Disbursements for loans held for sale (457,077) (426,410) (322,342)
Provision for loan losses 1,503 1,199 (1,309)
Deferred income tax expense 9,294 16,009 9,718
Deferred loan fees and costs (4,044) (5,159) (1,911)
Net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities, loans and interest bearing deposits - time 6,033 6,957 5,216
Net gains on mortgage loans (10,597) (11,762) (10,566)
Net gains on securities (138) (260) (563)
Net (gains) losses on other real estate and repossessed assets (672) (606) 250
Share based compensation 1,731 1,748 1,620
Litigation settlement expense 0 0 2,300
Loss on sale of payment plan business 0 0 320
Increase in accrued income and other assets (4,890) (3,708) (7,182)
Increase in accrued expenses and other liabilities 240 5,442 559
Total Adjustments 5,082 18,132 938
Net Cash From Operating Activities 44,921 38,607 23,704
CASH FLOW USED IN INVESTING ACTIVITIES      
Proceeds from the sale of securities available for sale 48,736 17,308 64,103
Proceeds from maturities, prepayments and calls of securities available for sale 160,627 173,723 203,029
Purchases of securities available for sale (114,362) (100,584) (297,925)
Proceeds from the sale of interest bearing deposits - time 2,474 0 0
Proceeds from the maturity of interest bearing deposits - time 3,728 2,850 6,253
Redemption of Federal Home Loan Bank and Federal Reserve Bank stock 0 0 371
Purchase of Federal Reserve Bank stock (2,038) 0 (443)
Net increase in portfolio loans (loans originated, net of principal payments) (344,330) (406,859) (107,472)
Proceeds from the sale of portfolio loans 38,527 0 0
Purchase of portfolio loans 0 0 (15,000)
Cash received in the acquisition of TCSB Bancorp Inc. 23,516 0 0
Cash received from the sale of Mepco Finance Corporation assets, net 0 33,446 0
Proceeds from the collection of vehicle service contract counterparty receivables 511 528 4,786
Proceeds from the sale of other real estate and repossessed assets 2,526 5,703 4,251
Proceeds from bank-owned life insurance 474 523 2,235
Proceeds from the sale of property and equipment 106 26 416
Capital expenditures (3,862) (4,242) (3,459)
Net Cash Used in Investing Activities (183,367) (277,578) (138,855)
CASH FLOW FROM FINANCING ACTIVITIES      
Net increase in total deposits 225,185 174,815 139,756
Net increase (decrease) in other borrowings (6,600) 6,754 0
Proceeds from Federal Home Loan Bank advances 1,272,000 622,000 0
Payments of Federal Home Loan Bank advances (1,308,697) (583,587) (2,521)
Dividends paid (14,055) (8,960) (7,274)
Proceeds from issuance of common stock 267 72 82
Repurchase of common stock (12,681) 0 (16,854)
Share based compensation withholding obligation (1,467) (579) (627)
Net Cash From Financing Activities 153,952 210,515 112,562
Net Increase (Decrease) in Cash and Cash Equivalents 15,506 (28,456) (2,589)
Cash and Cash Equivalents at Beginning of Year 54,738 83,194 85,783
Cash and Cash Equivalents at End of Year 70,244 54,738 83,194
Cash paid during the year for      
Interest 16,737 9,163 6,416
Income taxes 120 1,970 563
Transfers to other real estate and repossessed assets 1,510 1,735 2,355
Transfer of mortgage loans to held for sale 41,471 0 0
Common stock and stock options issued in TCSB Bancorp, Inc. acquisition 64,536 0 0
Purchase of securities available for sale and interest bearing deposits - time not yet settled 0 1,000 1,582
Transfers to payment plan receivables and other assets held for sale 0 0 33,360
Transfers to other liabilities held for sale $ 0 $ 0 $ 718