XML 60 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 15,709us-gaap_ProfitLoss $ 6,890us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 5,747us-gaap_DepreciationDepletionAndAmortization 4,090us-gaap_DepreciationDepletionAndAmortization
Provision for loan and lease losses 1,671us-gaap_ProvisionForLoanAndLeaseLosses 6,331us-gaap_ProvisionForLoanAndLeaseLosses
Net amortization of premium on securities 6,949us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 6,659us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Securities gains, net (4,353)us-gaap_GainLossOnSaleOfSecuritiesNet (781)us-gaap_GainLossOnSaleOfSecuritiesNet
Decrease in trading account securities 0us-gaap_IncreaseDecreaseInTradingSecurities 1,801us-gaap_IncreaseDecreaseInTradingSecurities
Stock based compensation 1,139us-gaap_ShareBasedCompensation 1,098us-gaap_ShareBasedCompensation
Write downs and losses on repossessed assets, net 361us-gaap_GainLossOnSaleOfOtherAssets 123us-gaap_GainLossOnSaleOfOtherAssets
Loans originated for sale (311,140)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale (158,779)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale
Proceeds on sales of loans held for sale 287,768us-gaap_ProceedsFromSaleOfLoansHeldForSale 155,526us-gaap_ProceedsFromSaleOfLoansHeldForSale
Net gains on sale of loans held for sale (11,056)us-gaap_GainLossOnSalesOfLoansNet (4,944)us-gaap_GainLossOnSalesOfLoansNet
Decrease in accrued interest receivable 3,234us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet 2,304us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Increase in prepaid expenses (513)us-gaap_IncreaseDecreaseInPrepaidExpense (359)us-gaap_IncreaseDecreaseInPrepaidExpense
Increase (decrease) in accrued interest payable 627us-gaap_IncreaseDecreaseInInterestPayableNet (750)us-gaap_IncreaseDecreaseInInterestPayableNet
Capitalization of servicing rights (2,818)htlf_PaymentstoAcquireMortgageServicingRightsMSROperatingActivities (1,435)htlf_PaymentstoAcquireMortgageServicingRightsMSROperatingActivities
Other, net (11,480)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (6,319)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (18,155)us-gaap_NetCashProvidedByUsedInOperatingActivities 11,455us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of securities available for sale 289,466us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 355,288us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Proceeds from the sale of other investments 5,489us-gaap_ProceedsFromSaleOfOtherInvestments 2,005us-gaap_ProceedsFromSaleOfOtherInvestments
Proceeds from the maturity of and principal paydowns on securities available for sale 37,479us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 34,446us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Proceeds from the maturity of and principal paydowns on securities held to maturity 208us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities 182us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
Proceeds from the maturity of and principal paydowns on other securities 0htlf_ProceedsfromMaturitiesPrepaymentsandCallsofOtherSecurities 2,041htlf_ProceedsfromMaturitiesPrepaymentsandCallsofOtherSecurities
Purchase of securities available for sale (232,422)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (160,286)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Purchase of securities held to maturity 0us-gaap_PaymentsToAcquireHeldToMaturitySecurities (16,784)us-gaap_PaymentsToAcquireHeldToMaturitySecurities
Purchase of other investments (2,004)us-gaap_PaymentsToAcquireOtherInvestments (958)us-gaap_PaymentsToAcquireOtherInvestments
Net (increase) decrease in loans and leases 25,684us-gaap_PaymentsForProceedsFromLoansAndLeases (93,020)us-gaap_PaymentsForProceedsFromLoansAndLeases
Capital expenditures (2,919)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (2,710)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash and cash equivalents received in acquisition 7,103us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested 0us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested
Proceeds from the sale of equipment 13us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds on sale of OREO and other repossessed assets 2,312us-gaap_ProceedsFromSaleOfForeclosedAssets 5,079us-gaap_ProceedsFromSaleOfForeclosedAssets
NET CASH PROVIDED BY INVESTING ACTIVITIES 130,409us-gaap_NetCashProvidedByUsedInInvestingActivities 125,283us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits and savings accounts 90,075htlf_NetIncreaseInDemandDepositsAndSavingsAccounts 3,800htlf_NetIncreaseInDemandDepositsAndSavingsAccounts
Net decrease in time deposit accounts (25,618)us-gaap_IncreaseDecreaseInTimeDeposits (6,935)us-gaap_IncreaseDecreaseInTimeDeposits
Net decrease in short-term borrowings (31,765)us-gaap_ProceedsFromRepaymentsOfShortTermDebt (80,506)us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from short term FHLB advances 60,000us-gaap_ProceedsFromFederalHomeLoanBankAdvances 40,000us-gaap_ProceedsFromFederalHomeLoanBankAdvances
Repayments of short term FHLB advances (124,000)us-gaap_PaymentsForFederalHomeLoanBankAdvances (112,000)us-gaap_PaymentsForFederalHomeLoanBankAdvances
Proceeds from other borrowings 4,000us-gaap_ProceedsFromIssuanceOfLongTermDebt 5,000us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayments of other borrowings (44,488)us-gaap_RepaymentsOfLongTermDebt (20,193)us-gaap_RepaymentsOfLongTermDebt
Purchase of treasury stock (1,780)us-gaap_PaymentsForRepurchaseOfCommonStock (606)us-gaap_PaymentsForRepurchaseOfCommonStock
Proceeds from issuance of common stock 832us-gaap_ProceedsFromIssuanceOfCommonStock 247us-gaap_ProceedsFromIssuanceOfCommonStock
Excess tax benefits on exercised stock options 612us-gaap_DeferredTaxExpenseFromStockOptionsExercised (138)us-gaap_DeferredTaxExpenseFromStockOptionsExercised
Dividends paid (2,261)us-gaap_PaymentsOfDividends (2,049)us-gaap_PaymentsOfDividends
NET CASH USED BY FINANCING ACTIVITIES (74,393)us-gaap_NetCashProvidedByUsedInFinancingActivities (173,380)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents 37,861us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (36,642)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 73,871us-gaap_CashAndCashEquivalentsAtCarryingValue 125,270us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS AT END OF PERIOD 111,732us-gaap_CashAndCashEquivalentsAtCarryingValue 88,628us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures:    
Cash paid for income/franchise taxes 840us-gaap_IncomeTaxesPaid 980us-gaap_IncomeTaxesPaid
Cash paid for interest 8,545us-gaap_InterestPaid 9,412us-gaap_InterestPaid
Loans transferred to OREO 2,371htlf_LoansTransferredToOreo 3,036htlf_LoansTransferredToOreo
Purchases of securities available for sale, accrued, not paid 5,149htlf_PurchasesOfAvailableForSaleSecuritiesAccruedNotPaid 0htlf_PurchasesOfAvailableForSaleSecuritiesAccruedNotPaid
Stock consideration granted for acquisition $ 53,052us-gaap_StockIssuedDuringPeriodValueAcquisitions $ 0us-gaap_StockIssuedDuringPeriodValueAcquisitions