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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and due from banks $ 87,375,000 $ 79,171,000
Interest earning deposits 23,884,000 111,541,000
Federal funds sold 9,460,000 7,980,000
Total cash and cash equivalents 120,719,000 198,692,000
Securities available for sale, at estimated fair value 1,989,436,000  
Securities available for sale, at estimated fair value   1,538,755,000
Securities held to maturity, at carrying value (estimated fair value of $159,781 and $921,800, respectively) 162,931,000 909,506,000
FHLB stock, at cost 32,583,000 55,729,000
Equity investments 12,093,000  
Equity investments   5,821,000
Loans held for sale 601,000 2,001,000
Loans:    
Loans 3,312,799,000 3,294,356,000
Less: Allowance for loan losses [1] (27,019,000) (20,781,000)
Net loans 3,285,780,000 3,273,575,000
Premises and equipment, net 135,972,000 133,640,000
Goodwill 201,116,000 201,246,000
Other intangible assets, net 17,779,000 22,993,000
Interest receivable 27,287,000 28,491,000
Deferred tax asset, net 9,776,000 12,204,000
Unsettled issuances of brokered certificates of deposit 15,236,000 0
Bank owned life insurance 98,160,000 100,368,000
Other assets 14,025,000 15,076,000
Total assets 6,123,494,000 6,498,097,000
Deposits:    
Noninterest bearing 994,680,000 1,037,401,000
Interest bearing 3,430,350,000 3,478,046,000
Total deposits 4,425,030,000 4,515,447,000
Federal funds purchased and repurchase agreements 36,810,000 9,498,000
FHLB borrowings 719,065,000 1,017,361,000
Subordinated notes, net of unamortized debt issuance costs [2] 98,407,000 98,248,000
Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,246,000 60,241,000
Unsettled trades to purchase securities 6,378,000 0
Other liabilities 46,267,000 43,162,000
Total liabilities 5,392,203,000 5,743,957,000
Off-balance-sheet arrangements, commitments and contingencies (Note 17)
Shareholders’ equity:    
Common stock: ($1.25 par value, 80,000,000 shares authorized and 37,845,224 shares issued at December 31, 2018 and 40,000,000 shares authorized and 37,802,352 shares issued at December 31, 2017) 47,307,000 47,253,000
Paid-in capital 762,470,000 757,439,000
Retained earnings 64,797,000 32,851,000
Treasury stock, at cost (4,120,475 at December 31, 2018 and 2,802,019 at December 31, 2017) (93,055,000) (47,105,000)
Accumulated other comprehensive loss (50,228,000) (36,298,000)
Total shareholders’ equity 731,291,000 754,140,000
Total liabilities and shareholders’ equity $ 6,123,494,000 $ 6,498,097,000
[1] Loans acquired with the Diboll acquisition were measured at fair value on November 30, 2017, with no carryover of allowance for loan loss. The allowance for loan loss recorded on PCI loans totaled $302,000 as of December 31, 2018. There was no allowance for loan loss recorded on PCI loans as of December 31, 2017
[2] This debt consists of subordinated notes with a remaining maturity greater than one year that qualify under the risk-based capital guidelines as Tier 2 capital, subject to certain limitations.