XML 22 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 5,006 $ 14,044
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 572 528
Net accretion on loans and deposits (1,190) (1,194)
Amortization of junior subordinated debentures 67 64
Net amortization on securities 176 160
Amortization of intangible assets 977 764
Deferred taxes (133) (58)
Provision for loan losses (511) 645
Stock based compensation 353 696
Origination of loans held for sale (891) (19,276)
Proceeds from loan sales 2,006 19,705
Net gains on sale of securities (5)  
Net gains on sale of loans (12) (542)
Net OREO (gains) losses and valuation adjustments 11 (26)
Bargain purchase gain   (12,509)
(Increase) decrease in other assets 1,272 (172)
Increase (decrease) in other liabilities (1,428) 1,493
Net cash provided by (used in) operating activities 6,270 4,322
Cash flows from investing activities:    
Purchases of securities available for sale (3,264)  
Proceeds from sales of securities available for sale 4,345 0
Proceeds from maturities, calls, and pay downs of securities available for sale 1,829 1,491
Purchases of securities held to maturity (25,775)  
Purchases of loans (shared national credits) (995)  
Net change in loans 45,253 (5,153)
Purchases of premises and equipment, net (494) (311)
Net proceeds from sale of OREO 59 1,955
Purchases of FHLB and FRB stock, net (416) 437
Cash paid for acquisitions, net of cash acquired   (124,990)
Proceeds from sale of loans obtained through Doral Money Inc. acquisition   36,765
Net cash provided by (used in) investing activities 20,542 (89,806)
Cash flows from financing activities:    
Net increase in deposits 11,496 8,530
Increase (decrease) in customer repurchase agreements 324 (616)
Increase (decrease) in Federal Home Loan Bank advances (20,000) (3,000)
Proceeds from the issuance of other borrowings   99,975
Repayment of other borrowings   (1,659)
Dividends on preferred stock (194) (192)
Net cash provided by (used in) financing activities (8,374) 103,038
Net increase (decrease) in cash and cash equivalents 18,438 17,554
Cash and cash equivalents at beginning of period 105,277 160,888
Cash and cash equivalents at end of period 123,715 178,442
Supplemental cash flow information:    
Interest paid 2,348 1,856
Income taxes paid 1,123 528
Supplemental noncash disclosures:    
Loans transferred to OREO 156 497
Premises transferred to OREO 2,215  
Securities transferred in satisfaction of other borrowings   $ 98,316
Loans transferred to Loans held for sale $ 2,805