XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Interest received $ 66,387 $ 55,164
Fees and commissions received 16,989 15,629
Interest paid (3,545) (3,587)
Cash paid to suppliers and employees (57,211) (46,616)
Origination of loans designated held for sale (83,207) (109,958)
Sale of loans designated held for sale 87,130 102,380
Net change in other assets (834) (462)
Net cash provided by operating activities 25,709 12,550
Cash flows from investing activities    
Maturity of securities available for sale 59,151 63,681
Maturity of securities held for investment 15,584 17,400
Proceeds from sale of securities available for sale 12,211 0
Purchases of securities available for sale (149,969) (84,693)
Purchases of securities held for investment (213,766) (24,366)
Net new loans and principal repayments (133,007) (114,794)
Proceeds from the sale of other real estate owned 4,207 3,004
Proceeds from sale of Federal Home Loan Bank (FHLB) and Federal Reserve Bank stock 1,700 3,725
Purchase of FHLB and Federal Reserve Stock (9,297) (3,388)
Net cash from bank acquisition 260,471 0
Additions to bank premises and equipment (133) (6,651)
Net cash (used in) provided by investing activities (152,848) (146,082)
Cash flows from financing activities    
Net increase in deposits 5,421 188,643
Net increase in federal funds purchased and repurchase agreements 11,382 4,036
Net increase (decrease) in FHLB borrowings 101,000 (65,000)
Stock based employee benefit plans 72 62
Dividends paid 0 0
Net cash provided by financing activities 117,875 127,741
Net decrease in cash and cash equivalents (9,264) (5,791)
Cash and cash equivalents at beginning of period 136,067 100,539
Cash and cash equivalents at end of period 126,802 94,748
Reconciliation of net income to cash provided by operating activities    
Net income 9,298 11,664
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,235 1,708
Amortization of premiums and discounts on securities, net 2,385 1,972
Other amortization and accretion, net (1,110) (994)
Change in loans held for sale, net 3,923 (7,578)
Provision for loan losses 861 1,288
Gain on sale of securities (136) 0
Gain on sale of loans (872) (708)
Losses (gains) on sale and write-downs of other real estate owned (252) 134
Losses (gains) on disposition of fixed assets 1,937 1
Change in interest receivable (2,460) 136
Change in interest payable 350 (370)
Change in prepaid expenses (584) (721)
Change in accrued taxes 5,582 7,487
Change in other assets (834) (462)
Change in other liabilities 5,386 (1,007)
Net cash provided by operating activities 25,709 12,550
Supplemental disclosure of non cash investing activities:    
Fair value adjustment to securities 16,602 2,004
Transfer from loans to other real estate owned 2,805 1,629
Purchase of securities on trade date 349 528
Matured securities recorded as a receivable 1,198 0
Transfer from bank premises to other real estate owned $ 3,176