XML 22 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 27,571 $ 27,208 $ 24,136
Adjustments to reconcile consolidated net income to net cash provided by operating activities:      
Provision (recapture) for loan loss (338) 4,575 6,950
Depreciation 3,353 3,259 3,643
Deferred income tax provision (benefit) 2,932 601 (1,664)
Amortization of intangibles 1,079 1,167 1,305
Valuation adjustments on repossessed real estate and other assets 341 65 115
Net realized gain on securities and other investments (50) (52) (22)
Gain on sale of assets (1,524) (1,922) (783)
Gain on redemption of junior subordinated debt     (1,025)
Net income on bank-owned life insurance (1,580) (1,356) (1,357)
Amortization of premiums on securities 1,294 1,267 907
Stock-based compensation expense 329 43 12
Change in operating assets and liabilities:      
Loans held for sale (420) 1,408 (573)
Other assets (3,156) (1,188) 2,459
Other liabilities 5,759 967 (1,269)
Total adjustments 8,019 8,834 8,698
Net cash provided by operating activities 35,590 36,042 32,834
Cash flows from investing activities:      
Acquisition of MCBI, net of cash acquired     (5,936)
Purchases of securities (355,525) (406,173) (383,162)
Proceeds from sales, calls, and maturities of securities 317,284 322,861 321,135
Principal repayments of securities 20,692 18,595 10,879
Net purchase of other investments (162) (52) (1,887)
Net increase in time deposits in other banks   (200)  
Net increase in loans (187,030) (78,553) (36,342)
Sales of loan participations 46,067 4,948 26,755
Purchases of loan participations (18,491)   (6,771)
Sales of U.S. Small Business Administration loans 2,173 3,490 3,593
Redemption (purchases) of bank-owned life insurance (15,000) 367 (15,000)
Proceeds from sale of repossessed real estate and other assets 2,574 1,657 862
Purchases of premises and equipment (992) (1,882)  
Proceeds from sales of premises and equipment 2,977 3,368 (2,790)
Net cash used in investing activities (185,433) (131,574) (88,664)
Cash flows from financing activities:      
Net increase (decrease) in noninterest-bearing deposits 84,364 (28,533) 1,186
Net increase (decrease) in interest-bearing deposits (22,152) 85,926 (14,254)
Net increase (decrease) in securities sold under agreements to repurchase (818) 253 (2,096)
Proceeds from sale of common stock in initial public offering 71,760    
Offering cost for initial public offering (7,241)    
Purchase of treasury stock   (11,079) (4,418)
Proceeds from issuance of treasury stock for exercise of stock options 117 3,883 160
Purchase of trust preferred securities     (3,075)
Proceeds from note payable     31,000
Repayment of note payable (27,679) (3,321)  
Repayment of FHLB advances     (4,033)
Dividends paid on common stock (4,412) (4,395) (4,487)
Net cash provided (used) in financing activities 93,939 42,734 (17)
Net decrease in cash and cash equivalents (55,904) (52,798) (55,847)
Cash and cash equivalents, beginning 382,103 434,901 490,748
Cash and cash equivalents, ending $ 326,199 $ 382,103 $ 434,901