XML 121 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities      
Net Income $ 98,739 $ 67,275 $ 42,865
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 6,421 6,353 5,614
Amortization of premiums and discounts on securities, net 2,548 3,196 3,977
Amortization of operating lease right-of-use assets 4,117    
Other amortization and accretion, net (2,005) (1,158) (697)
Stock based compensation 7,243 7,823 5,267
Origination of loans designated for sale (329,177) (303,928) (213,027)
Sale of loans designated for sale 333,591 326,328 211,091
Provision for loan losses 10,999 11,730 5,648
Deferred income taxes 6,791 459 35,827
(Gains) losses on sale of securities (1,031) 485 (86)
Gain on sale of VISA Class B stock 0 0 (15,153)
Gains on sale of loans (9,794) (8,961) (7,038)
Gains on sale and write-downs of other real estate owned (432) (107) (711)
Losses on disposition of fixed assets 511 1,235 2,270
Bank owned life insurance death benefits (956) (280) 0
Changes in operating assets and liabilities, net of effects from acquired companies:      
Net (increase) decrease in other assets (5,614) 10,331 (5,506)
Net (decrease) increase in other liabilities (4,206) 8,827 (21,432)
Net Cash Provided by Operating Activities 117,745 129,608 48,909
Cash Flows From Investing Activities      
Maturities and repayments of debt securities available-for-sale 101,674 141,223 211,173
Maturities and repayments of debt securities held-to-maturity 42,495 58,315 86,460
Proceeds from sale of debt securities available-for-sale 202,724 64,366 235,613
Purchases of debt securities available-for-sale (309,461) (104,650) (371,926)
Purchases of debt securities held-to-maturity 0 0 (131,439)
Maturities of time deposits with other banks 4,501 4,310 4,720
Net new loans and principal repayments (109,614) (365,816) (328,868)
Proceeds from the sale of portfolio loans 0 0 106,815
Purchases of loans held for investment (270,791) (19,541) (55,352)
Proceeds from the sale of other real estate owned 6,509 10,072 6,069
Proceeds from sale of FHLB and Federal Reserve Bank Stock 74,120 44,731 48,295
Purchase of FHLB and Federal Reserve Bank Stock (75,193) (51,505) (42,680)
Purchase of Visa Class B stock 0 0 (6,180)
Proceeds from sale of Visa Class B stock 0 21,333 0
Redemption of bank owned life insurance 14,218 4,232 3,609
Purchase of bank owned life insurance 0 0 (30,000)
Net cash from bank acquisitions 0 22,349 23,825
Additions to bank premises and equipment (2,523) (4,019) (5,710)
Net Cash Used in Investing Activities (321,341) (174,600) (245,576)
Cash Flows From Financing Activities      
Net increase (decrease) in deposits 407,513 (39,769) 333,049
Net (decrease) increase in federal funds purchased and repurchase agreements (128,202) (1,771) 11,892
Net (decrease) increase in FHLB borrowings with original maturities of three months or less (67,000) 32,000 (204,000)
Repayments of FHLB borrowings with original maturities of more than three months (63,000) 0 0
Proceeds from FHLB borrowings with original maturities of more than three months 65,000 60,000 0
Stock based employee benefit plans (2,135)   (55)
Stock based employee benefit plans   979  
Issuance of common stock, net of related expense 0 0 55,641
Dividends paid 0 0 0
Net Cash Provided by Financing Activities 212,176 51,439 196,527
Net increase (decrease) in cash and cash equivalents 8,580 6,447 (140)
Cash and cash equivalents at beginning of year 115,951 109,504 109,644
Cash and Cash Equivalents at End of Year 124,531 115,951 109,504
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 46,130 28,301 15,125
Cash paid during the period for taxes 16,000 13,200 400
New operating lease right-of-use assets 30,301    
New operating lease liabilities 34,627    
Supplemental disclosure of non cash investing activities:      
Transfer of debt securities from held-to-maturity to available-for-sale 52,796 0 0
Transfer from loans to other real estate owned 5,665 5,549 1,774
Transfer from bank premises to other real estate owned 0 9,168 1,212
Transfer from loans held for investment to loans held for sale $ 801 $ 0 $ 5,664