XML 20 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net income $ 20,017 $ 17,735
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization on investment securities, net 138 135
Accretion on loans deposits and core deposit intangible net (583) (873)
Depreciation of premises and equipment 2,100 1,716
Amortization of mortgaging servicing rights 353 305
Provision for loan and lease losses 12,351 5,186
Net gain on sale of mortgage loans held for sale (977) (1,095)
Origination of mortgage loans held for sale (33,245) (36,992)
Proceeds from sale of mortgage loans held for sale 40,691 35,022
Net gain on sale of consumer loans held for sale (1,108) (433)
Origination of consumer loans held for sale (126,924) (44,068)
Proceeds from sale of consumer loans held for sale 126,441 44,034
Net gain realized on sale of other real estate owned (212) (248)
Writedowns of other real estate owned 70  
Deferred director compensation expense - Class A Common Stock 55 62
Stock based compensation expense 410 261
Increase in cash surrender value of bank owned life insurance (391) (339)
Net change in other assets and liabilities:    
Accrued interest receivable 209 (180)
Accrued interest payable (90) 54
Other assets (2,096) (2,390)
Other liabilities 8,700 7,878
Net cash provided by operating activities 45,909 25,770
INVESTING ACTIVITIES:    
Purchases of securities available for sale (54,390) (370,084)
Proceeds from calls, maturities and paydowns of securities available for sale 10,017 370,390
Proceeds from calls, maturities and paydowns of securities held to maturity 1,002 882
Net change in outstanding warehouse lines of credit 90,274 (7,257)
Purchase of non-business acquisition loans, including premiums paid (1,224) (23,188)
Net change in other loans 8,800 4,274
Proceeds from sales of other real estate owned 501 588
Net purchases of premises and equipment (3,193) (887)
Net cash provided by (used in) investing activities 51,787 (25,282)
FINANCING ACTIVITIES:    
Net change in deposits 188,092 249,169
Net change in securities sold under agreements to repurchase and other short-term borrowings (29,098) (75,540)
Payments of Federal Home Loan Bank advances (435,000) (182,000)
Proceeds from Federal Home Loan Bank advances 100,000  
Repurchase of Class A Common Stock (544)  
Net proceeds from Common Stock options exercised 33 55
Cash dividends paid (4,301) (4,082)
Net cash used in financing activities (180,818) (12,398)
NET CHANGE IN CASH AND CASH EQUIVALENTS (83,122) (11,910)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 289,309 210,082
CASH AND CASH EQUIVALENTS AT END OF YEAR 206,187 198,172
Cash paid during the period for:    
Interest 4,535 4,527
Income taxes 331 156
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers from loans to real estate acquired in settlement of loans $ 330 656
Loans provided for sales of other real estate owned   $ 256