XML 19 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
6 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Operating Activities    
Net Income $ 17,296 $ 11,707
Items not requiring (providing) cash    
Provision for loan losses 660 764
Depreciation and amortization 2,820 2,463
Share based compensation 158 170
Mortgage servicing rights net impairment 23 840
Premium amortization on securities available for sale, net 2,945 2,673
Gain on sale of investment securities (32) (875)
Gain on sale of mortgage loans (3,968) (5,643)
Proceeds from sales of loans 113,382 144,197
Loans originated for sale (107,473) (138,452)
Change in cash value of life insurance (872) (696)
Gain (Loss) on sale of other real estate owned 83 118
Net change in    
Interest receivable (584) (355)
Interest payable 81 399
Other assets 3,714 (5,624)
Other liabilities (1,794) 316
Net cash provided by operating activities 26,439 12,003
Investing Activities    
Purchases of securities available for sale (97,482) (50,143)
Proceeds from sales, maturities, calls, and principal repayments of securities available for sale 44,223 65,523
Purchases of securities held to maturity (19,948) (17,960)
Proceeds from maturities of securities held to maturity 4,853 12,934
Change in Federal Reserve and FHLB stock 8,987 (2,231)
Net change in loans (128,271) (88,250)
Proceeds on the sale of OREO and repossessed assets 1,057 1,253
Change in premises and equipment, net (1,052) (683)
Net cash used in investing activities (176,633) (49,120)
Net change in    
Deposits (67,254) 78,622
Borrowings 217,921 35,310
Redemption of preferred stock   (12,500)
Proceeds from issuance of stock 34  
Dividends paid on common shares (5,346) (3,699)
Dividends paid on preferred shares   (42)
Net cash provided by financing activities 145,355 97,691
Net Change in Cash and Cash Equivalents (4,839) 60,574
Cash and Cash Equivalents, Beginning of Period 70,832 48,650
Cash and Cash Equivalents, End of Period 65,993 109,224
Additional Supplemental Information    
Interest paid 6,786 7,081
Income taxes paid 6,350 4,750
Transfer of loans to other real estate owned 1,416 1,971
Kosciusko Financial Inc [Member]    
Investing Activities    
Acquisition of businesses, net of cash received   30,437
The Company purchased all of the capital stock of Kosciusko for $22,983 on June 1, 2016. In conjunction with the acquisition, liabilities were assumed as follows:    
Fair value of assets acquired   155,873
Less: common stock issued   14,470
Cash paid for the capital stock   8,513
Liabilities assumed   $ 132,890
Single Branch of First Farmers Bank & Trust Co [Member]    
Investing Activities    
Acquisition of businesses, net of cash received 11,000  
LaPorte Bancorp Inc [Member]    
Additional Supplemental Information    
Acquisition of LaPorte, measurement period adjustments $ 703