XML 19 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities    
Net income $ 18,309 $ 14,374
Items not requiring (providing) cash    
Provision for loan losses 1,219 2,820
Depreciation and amortization 3,790 3,020
Share based compensation 247 216
Mortgage servicing rights net impairment 840 389
Premium amortization on securities available for sale, net 4,389 2,192
Gain on sale of investment securities (875) (124)
Gain on sale of mortgage loans (9,171) (7,815)
Proceeds from sales of loans 246,435 247,512
Loans originated for sale (236,719) (239,137)
Change in cash value of life insurance (1,145) (868)
Gain (Loss) on sale of other real estate owned 118 (214)
Net change in    
Interest receivable (687) (1,337)
Interest payable 275 (28)
Other assets (16,641) (61)
Other liabilities 1,015 1,020
Net cash provided by operating activities 11,399 21,959
Investing Activities    
Purchases of securities available for sale (152,283) (170,391)
Proceeds from sales, maturities, calls, and principal repayments of securities available for sale 88,330 61,785
Purchases of securities held to maturity (35,598) (26,128)
Proceeds from maturities of securities held to maturity 14,654 7,155
Change in FHLB stock (2,443) 268
Net change in loans (26,920) (123,326)
Proceeds on the sale of OREO and repossessed assets 1,524 2,425
Change in premises and equipment, net (1,719) (4,757)
Net cash provided by (used in) investing activities 32,503 (70,556)
Net change in    
Deposits (37,495) 79,669
Borrowings 46,846 (26,064)
Redemption of preferred stock (12,500)  
Proceeds from issuance of stock 286 4,178
Dividends paid on common shares (5,926) (4,413)
Dividends paid on preferred shares (42) (94)
Net cash provided by (used in) financing activities (8,831) 53,276
Net Change in Cash and Cash Equivalents 35,071 4,679
Cash and Cash Equivalents, Beginning of Period 48,650 43,476
Cash and Cash Equivalents, End of Period 83,721 48,155
Additional Supplemental Information    
Interest paid 11,579 10,292
Income taxes paid 7,310 4,900
Transfer of loans to other real estate owned 3,035 2,825
The Company purchased all of the capital stock of Kosciusko for $22,983 on June 1, 2016, Peoples for $78,147 on July 1, 2015, and LaPorte Bancorp for $98,634 on July 18, 2016. In conjunction with the acquisition, liabilities were assumed as follows:    
Fair value of assets acquired 155,873 485,077
Less: common stock issued 14,470 22,641
Cash paid for the capital stock 8,513 55,506
Liabilities assumed 132,890 406,930
Kosciusko Financial Inc [Member]    
Investing Activities    
Acquisition of businesses, net of cash received 30,437  
LaPorte Bancorp Inc [Member]    
Investing Activities    
Acquisition of businesses, net of cash received 116,521  
The Company purchased all of the capital stock of Kosciusko for $22,983 on June 1, 2016, Peoples for $78,147 on July 1, 2015, and LaPorte Bancorp for $98,634 on July 18, 2016. In conjunction with the acquisition, liabilities were assumed as follows:    
Fair value of assets acquired 546,770  
Less: common stock issued 60,306  
Cash paid for the capital stock 38,328  
Liabilities assumed $ 448,136  
Peoples Bancorp Inc [Member]    
Investing Activities    
Acquisition of businesses, net of cash received   $ 182,413