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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 6,030 $ 11,635
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 949 814
Provision for loan losses 16,000 4,500
Amortization of intangibles 652 364
Net accretion of loans (1,996) (963)
Accretion on bank premises (23) (21)
Accretion on deposits (1,503) (328)
Amortization on borrowings, net 43 58
Stock-based compensation 536 828
Gains on sales of securities available-for-sale, net (29) (8)
Gains on equity securities, net (178) (103)
Gains on sale of loans held-for-sale, net (393) (19)
Loans originated for resale (5,186) (1,497)
Proceeds from sale of loans held-for-sale 17,324 1,148
Increase in cash surrender value of bank owned life insurance (968) (822)
Amortization of premiums and accretion of discounts on securities available-for-sale 1,101 683
Amortization of subordinated debentures issuance costs 82 82
Increase in accrued interest receivable (458) (550)
Net change in operating leases (19) 1,408
Decrease in other assets 17,366 3,723
Decrease in other liabilities (2,869) (7,933)
Net cash provided by operating activities 46,461 12,999
Securities available-for-sale:    
Purchases (86,731) (107,405)
Sales 19,624 94,075
Maturities, calls and principal repayments 50,294 35,371
Net purchases of restricted investment in bank stocks (8,094) (591)
Purchases of equity securities (2,000)
Payments on loans held-for-sale 75
Net increase in loans (130,187) (70,278)
Purchases of bank owned life insurance (25,000)
Purchases of premises and equipment (1,728) (257)
Proceeds from sale of OREO 992
Cash consideration paid in acquisition (23,977)
Cash and cash equivalents acquired in acquisition 111,368 13,741
Net cash used in investing activities (95,364) (35,344)
Cash flows from financing activities    
Net (decrease) increase in deposits (42,225) 86,124
Advances of Federal Home Loan Bank ("FHLB") borrowings 980,000 420,000
Repayments of FHLB borrowings (803,222) (480,833)
Cash dividends paid on common stock (3,576) (2,657)
Repurchase of treasury stock (911) (250)
Proceeds from exercise of stock options 163 143
Net cash provided by financing activities 130,229 22,527
Net change in cash and cash equivalents 81,326 182
Cash and cash equivalents at beginning of period 201,483 172,366
Cash and cash equivalents at end of period 282,809 172,548
Cash payments for:    
Interest paid on deposits and borrowings 24,627 22,340
Income taxes 7,476
Investing:    
Transfer of loans from held-for-investment to held-for-sale 10,995
Business combinations:    
Fair value of assets acquired 949,276 534,166
Fair value of liabilities assumed $ 852,729 $ 488,475