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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Interest received $ 55,164 $ 36,653
Fees and commissions received 15,629 10,959
Interest paid (3,587) (2,573)
Cash paid to suppliers and employees (46,616) (38,448)
Origination of loans held for sale (109,958) (85,424)
Proceeds from loans held for sale 102,380 81,127
Net change in other assets (462) 484
Net cash provided by operating activities 12,550 2,778
Cash flows from investing activities    
Maturity of securities available for sale 63,681 45,851
Maturity of securities held for investment 17,400 2,270
Proceeds from sale of securities available for sale 0 4,061
Purchase of securities available for sale (84,693) (75,785)
Purchase of securities held for investment (24,366) 0
Net new loans and principal repayments (114,794) (32,433)
Proceeds from the sale of other real estate owned 3,004 2,215
Proceeds from sale of Federal Home Loan Bank (FHLB) and Federal Reserve Bank stock 3,725 600
Purchase of FHLB and Federal Reserve Stock (3,388) 0
Additions to bank premises and equipment (6,651) (1,713)
Net cash (used in) provided by investing activities (146,082) (54,934)
Cash flows from financing activities    
Net increase in deposits 188,643 (508)
Net increase (decrease) in federal funds purchased and repurchase agreements (60,964) (9,648)
Issuance of common stock, net of related expense 0 24,637
Stock based employee benefit plans 62 81
Dividends paid 0 0
Net cash provided by financing activities 127,741 14,562
Net decrease in cash and cash equivalents (5,791) (37,594)
Cash and cash equivalents at beginning of period 100,539 191,624
Cash and cash equivalents at end of period 94,748 154,030
Reconciliation of net income to cash provided by operating activities    
NET INCOME 11,664 4,217
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,708 1,576
Amortization of premiums and discounts on securities, net 1,972 963
Other amortization and accretion, net (994) 545
Change in loans held for sale, net (7,578) (4,297)
Provision for Loan Losses 1,288 (2,179)
Gain on sale of securities 0 (17)
Gain on sale of loans (708) (668)
Losses on sale and write-downs of other real estate owned 134 145
Losses (Gain) on disposition of fixed assets 1 (10)
Change in interest receivable 136 38
Change in interest payable (370) (20)
Change in prepaid expenses (721) (408)
Change in accrued taxes 7,487 3,150
Change in other assets (462) 484
Change in other liabilities (1,007) (741)
Net cash provided by operating activities 12,550 2,778
Supplemental disclosure of non cash investing activities:    
Fair value adjustment to securities 2,004 13,895
Transfer from loans to other real estate owned 1,629 1,658
Matured securities recorded as a receivable 528 372
Transfer from securities available for sale to securities held for investment $ 0 $ 158,781