XML 31 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities      
Net income $ 92,046,000 $ 89,289,000 $ 45,972,000
Reconciliation of net income to net cash provided by operating activities:      
Provision (reversal) for loan losses 2,263,000 (3,589,000) 723,000
Net security premium amortization 2,653,000 2,749,000 2,908,000
Loan discount accretion (5,974,000) (7,812,000) (7,076,000)
Other purchase accounting accretion and amortization, net (9,000) (190,000) (236,000)
Foreclosed property losses and write-downs, net 939,000 565,000 531,000
(Gains) losses on securities available for sale (97,000) 0 235,000
Other losses (gains) 169,000 (723,000) (383,000)
(Increase) decrease in net deferred loan costs (642,000) (2,285,000) 975,000
Depreciation of premises and equipment 5,836,000 6,077,000 5,493,000
Amortization of operating lease right-of-use assets 1,857,000 0 0
Repayments of lease obligations (1,669,000) 0 0
Stock-based compensation expense 2,270,000 1,569,000 1,095,000
Amortization of intangible assets 4,858,000 5,917,000 4,033,000
Amortization of SBA servicing assets 1,340,000 846,000 207,000
Fees/gains from sale of presold mortgage and SBA loans (12,219,000) (13,101,000) (11,174,000)
Originations of presold mortgage loans in process of settlement (173,705,000) (118,791,000) (228,871,000)
Proceeds from sales of presold mortgage loans in process of settlement 162,476,000 129,519,000 235,493,000
Origination of SBA loans for sale (150,677,000) (196,784,000) (95,436,000)
Proceeds from sales of SBA loans 124,527,000 157,427,000 77,034,000
Increase in accrued interest receivable (644,000) (1,910,000) (1,072,000)
(Increase) decrease in other assets (5,735,000) 3,525,000 6,724,000
Increase in accrued interest payable 178,000 741,000 392,000
Increase (decrease) in other liabilities 1,197,000 (6,629,000) (10,729,000)
Net cash provided by operating activities 51,238,000 46,410,000 26,838,000
Cash Flows From Investing Activities      
Purchases of securities available for sale (498,891,000) (230,794,000) (191,260,000)
Purchases of securities held to maturity 0 0 (291,000)
Proceeds from maturities/issuer calls of securities available for sale 158,920,000 60,871,000 37,974,000
Proceeds from maturities/issuer calls of securities held to maturity 32,461,000 16,183,000 22,344,000
Proceeds from sales of securities available for sale 39,797,000 0 140,621,000
Redemptions (purchases) of FRB and FHLB stock, net 4,088,000    
Redemptions (purchases) of FRB and FHLB stock, net   (6,129,000) (9,947,000)
Net increase in loans (165,203,000) (152,972,000) (204,631,000)
Proceeds from sales of foreclosed properties 5,877,000 7,532,000 8,647,000
Purchases of premises and equipment (3,534,000) (10,723,000) (4,659,000)
Proceeds from sales of premises and equipment 1,799,000 2,753,000 151,000
Net cash received in acquisitions 0 0 (72,519,000)
Net cash used by investing activities (424,686,000) (313,279,000) (128,532,000)
Cash Flows From Financing Activities      
Net increase in deposits 272,206,000 252,756,000 195,468,000
Net (decrease) increase in short-term borrowings (55,000,000) 50,000,000 93,000,000
Proceeds from long-term borrowings 0 50,000,000 110,000,000
Payments on long-term borrowings (51,119,000) (101,116,000) (105,737,000)
Cash dividends paid – common stock (13,662,000) (11,281,000) (7,596,000)
Repurchases of common stock (10,000,000) 0 0
Proceeds from stock option exercises 129,000 324,000 287,000
Payment of taxes related to stock withheld (702,000) (406,000) (231,000)
Net cash provided by financing activities 141,852,000 240,277,000 285,191,000
(Decrease) increase in Cash and Cash Equivalents (231,596,000) (26,592,000) 183,497,000
Cash and Cash Equivalents, Beginning of Year 462,898,000 489,490,000 305,993,000
Cash and Cash Equivalents, End of Year 231,302,000 462,898,000 489,490,000
Supplemental Disclosures of Cash Flow Information:      
Cash paid during the period for interest 33,725,000 23,036,000 12,239,000
Cash paid during the period for income taxes 24,336,000 21,162,000 19,537,000
Non-cash: Foreclosed loans transferred to foreclosed real estate 3,249,000 4,148,000 5,452,000
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes 16,998,000 (7,800,000) 553,000
Non-cash: Initial recognition of operating lease right-of-use assets 19,406,000    
Non-cash: Initial recognition of operating lease liabilities 19,406,000    
Non-cash: Equity issued related to acquisition earn-out $ 3,070,000 $ 0 $ 0