XML 38 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net Income $ 13,116 $ 9,595
Adjustments to reconcile net income to net cash provided by operating activities: Provision for loan losses    
Provision for loan losses 3,000 1,700
Depreciation and (accretion) amortization (3,180) 348
Net amortization on securities 3,659 2,600
Increase in cash surrender value of bank owned life insurance (850) (374)
Amortization of intangible assets 770 250
Share based compensation expense 1,218 916
Net securities losses 10 1,119
Increase in accrued interest receivable (2,600) (819)
Small Business Administration ("SBA") loans originated for sale (2,372)  
Proceeds from sale of the guaranteed portion of SBA loans 2,699  
Gain on sale of the guaranteed portion of SBA loans (270)  
Gain on sale of loans (477)  
(Increase) decrease in other assets (6,282) 3,344
Increase in accrued expenses and other liabilities 7,569 2,893
Net cash provided by operating activities 16,010 21,572
Cash flows from investing activities:    
Purchases of securities available for sale (129,482) (328,512)
Purchases of securities, restricted (226,956) (326,562)
Purchases of securities held to maturity (20,699) (41,310)
Proceeds from sales of securities available for sale 73,788 350,010
Redemption of securities, restricted 226,696 325,596
Maturities, calls and principal payments of securities available for sale 85,618 53,750
Maturities, calls and principal payments of securities held to maturity 22,173 32,236
Net increase in loans (243,722) (142,613)
Proceeds from loan sale 21,011  
Proceeds from sales of other real estate owned, net   2,242
Purchase of bank owned life insurance   (20,000)
Purchase of premises and equipment (3,563) (3,951)
Net cash acquired in business combination 24,628 2,926
Net cash used in investing activities (170,508) (96,188)
Cash flows from financing activities:    
Net increase in deposits 285,383 94,648
Net decrease in federal funds purchased (75,000) (23,000)
Net (decrease) increase in FHLB advances (60,705) 14,000
Repayment of acquired unsecured debt   (1,450)
Net (decrease) increase in repurchase agreements (10,104) 404
Net proceeds from issuance of subordinated debentures 78,334  
Net proceeds from issuance of common stock 541 475
Net proceeds from exercise of stock options 80 7
Repurchase of surrendered stock from vesting of restricted stock awards (226) (147)
Excess tax benefit from share based compensation 49 30
Cash dividends paid (9,403) (7,971)
Other, net (303) (192)
Net cash provided by financing activities 208,646 76,804
Net increase in cash and cash equivalents 54,148 2,188
Cash and cash equivalents at beginning of period 51,730 45,573
Cash and cash equivalents at end of period 105,878 47,761
Cash paid for:    
Interest 6,249 5,508
Income tax 4,389 883
Noncash investing and financing activities:    
Securities which settled in the subsequent period   4,235
Transfers from portfolio loans to OREO   577
Acquisition of noncash assets and liabilities:    
Fair value of assets acquired 874,875 207,326
Fair value of liabilities assumed $ 828,022 $ 212,747