XML 21 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows From Operating Activities      
Net Income $ 67,275 $ 42,865 $ 29,202
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 6,353 5,614 5,076
Amortization of premiums and discounts on securities, net 3,196 3,977 7,559
Other amortization and accretion, net (1,158) (697) (2,238)
Stock based compensation 7,823 5,267 4,154
Origination of loans designated for sale (303,928) (213,027) (175,842)
Sale of loans designated for sale 326,328 211,091 190,843
Provision for loan losses 11,730 5,648 2,411
Deferred income taxes 459 35,827 14,206
Losses (gains) on sale of securities 485 (86) (368)
Gain on sale of VISA Class B stock 0 (15,153) 0
Gains on sale of loans (8,961) (7,038) (6,335)
Gains on sale and write-downs of other real estate owned (107) (711) (509)
Losses on disposition of fixed assets 1,235 2,270 2,442
Changes in operating assets and liabilities, net of effects from acquired companies:      
Net increase (decrease) in other assets 10,051 (5,506) (11,573)
Net increase (decrease) in other liabilities 8,827 (21,432) 2,979
Net Cash Provided by Operating Activities 129,608 48,909 62,007
Cash Flows From Investing Activities      
Maturities and repayments of debt securities available for sale 141,223 211,173 127,879
Maturities and repayments of debt securities held to maturity 58,315 86,460 48,705
Proceeds from sale of debt securities available for sale 31,694 235,613 40,421
Purchases of debt securities available for sale (72,505) (371,926) (297,719)
Purchases of debt securities held to maturity 0 (131,439) (218,654)
Maturities of time deposits with other banks 4,310 4,720 0
Net new loans and principal repayments (365,816) (328,868) (396,862)
Proceeds from the sale of portfolio loans 0 106,815 71,433
Purchases of loans held for investment (19,541) (55,352) (64,925)
Proceeds from the sale of other real estate owned 10,072 6,069 7,952
Proceeds from sale of Federal Home Loan Bank (FHLB) and Federal Reserve Bank Stock 44,731 48,295 9,350
Purchase of FHLB and Federal Reserve Bank Stock (51,505) (42,680) (28,857)
Purchase of Visa Class B stock 0 (6,180) 0
Proceeds from sale of Visa Class B stock 21,333 0 0
Redemption of bank owned life insurance 4,232 3,609 0
Purchase of bank owned life insurance 0 (30,000) (40,000)
Net cash from bank acquisitions 22,876 23,825 235,546
Additions to bank premises and equipment (4,019) (5,710) (6,054)
Net Cash Used in Investing Activities (174,600) (245,576) (511,785)
Cash Flows From Financing Activities      
Net (decrease) increase in deposits (39,769) 333,049 27,320
Net (decrease) increase in federal funds purchased and repurchase agreements (1,771) 11,892 32,196
Net increase (decrease) in FHLB borrowings with original maturities of three months or less 32,000 (204,000) 415,000
Proceeds from FHLB borrowings with original maturities of more than three months 60,000 0 0
Early redemption of FHLB borrowings 0 0 (50,000)
Stock based employee benefit plans 979    
Stock based employee benefit plans   (55) (1,161)
Issuance of common stock, net of related expense 0 55,641 0
Dividends paid 0 0 0
Net Cash Provided by Financing Activities 51,439 196,527 423,355
Net increase (decrease) in cash and cash equivalents 6,447 (140) (26,423)
Cash and cash equivalents at beginning of year 109,504 109,644 136,067
Cash and Cash Equivalents at End of Year 115,951 109,504 109,644
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 28,301 15,125 7,855
Cash paid during the period for taxes 13,200 400 703
Supplemental disclosure of non cash investing activities:      
Transfer from loans to other real estate owned 5,549 1,774 3,009
Transfer from bank premises to other real estate owned 9,168 1,212 7,708
Transfer from loans held for investment to loans held for sale $ 0 $ 5,664 $ 0