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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,926 $ 3,966
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,341 1,064
Amortization of premiums and discounts on securities, net 1,056 1,021
Other amortization and accretion, net 268 (237)
Stock based compensation 1,315 673
Origination of loans designated for sale (47,149) (35,135)
Sale of loans designated for sale 46,603 39,266
Provision for loan losses 1,304 199
Deferred income taxes 3,860 2,423
Gains on sale of securities 0 (89)
Gains on sale of loans (815) (700)
Gains on sale of other real estate owned (346) (51)
Losses and writedowns on disposition of fixed assets 429 692
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net decrease (increase) in other assets 324 (40)
Net increase in other liabilities 647 2,655
Net cash provided by operating activities 16,763 15,707
CASH FLOWS FROM INVESTING ACTIVITIES    
Maturity of securities available for sale 54,783 26,018
Maturity of securities held to maturity 25,171 5,368
Proceeds from sale of securities available for sale 0 10,416
Purchases of securities available for sale (11,116) (81,880)
Purchases of securities held to maturity (31,963) 0
Net new loans and principal repayments (94,262) (31,810)
Proceeds from the sale of other real estate owned 2,417 1,542
Proceeds from sale of FHLB and Federal Reserve Bank stock 9,053 1,700
Purchase of FHLB and Federal Reserve Stock (4,935) (1,956)
Purchase of VISA Class B stock (6,180) 0
Net cash from bank acquisition 0 1,544
Additions to bank premises and equipment (1,697) (1,118)
Net cash used in investing activities (58,729) (70,176)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 155,423 40,719
Net increase (decrease) in federal funds purchased and repurchase agreements (21,095) 26,325
Net decrease in FHLB borrowings (113,000) 0
Issuance of common stock, net of related expense 55,660 0
Stock based employee benefit plans 171 (14)
Dividends paid 0 0
Net cash provided by financing activities 77,159 67,030
Net increase in cash and cash equivalents 35,193 12,561
Cash and cash equivalents at beginning of period 109,644 136,067
Cash and cash equivalents at end of period 144,837 148,628
Supplemental disclosure of non cash investing activities:    
Transfers from loans to other real estate owned 0 2,217
Transfers from bank premises to other real estate owned $ 0 $ 326