XML 22 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 21,485 $ 25,126 $ 24,540
Adjustments to reconcile net income to net cash provided by operating activities      
Provision for loan losses 2,771 1,255 2,191
Depreciation and amortization of property, plant, and equipment 3,560 3,563 4,135
Amortization of premiums on investments, net 172 1,066 1,375
Amortization of FDIC indemnification asset, net 3,517 5,474 6,379
Amortization of intangibles 1,056 1,136 1,118
Accretion on acquired loans (5,417) (4,766) (7,109)
Gain on divestiture, net (3,682)
Gain on sale of loans, net (501)
Equity-based compensation expense 430 209 110
Restricted stock awards 360 322 200
Issuance of treasury stock to 401(k) plan 415 384 363
(Gain) loss on sale of property, plant, and equipment, net (1) 238 23
Loss on sale of other real estate 791 1,495 3,002
Loss (gain) on sale of securities 661 (335) (144)
Net impairment losses recognized in earnings 4,646
FHLB debt prepayment fees 1,702
Proceeds from sale of mortgage loans 21,993
Originations of mortgage loans (19,700)
Decrease in other operating activities 9,209 6,957 18,842
Net cash provided by operating activities 39,009 43,088 58,519
Investing activities      
Proceeds from sale of securities available for sale 13,664 104,928 10,999
Proceeds from maturities, prepayments, and calls of securities available for sale 37,155 99,906 29,931
Proceeds from maturities and calls of securities held to maturity 21,840 25,190 190
Payments to acquire securities available for sale (49,406) (1,174) (81,540)
Payments to acquire securities held to maturity (15,003)
Repayments of (originations of) loans, net 37,455 (159,243) (24,719)
Redemptions of FHLB stock, net 694 130 1,279
Cash proceeds from (paid in) mergers, acquisitions, and divestitures, net (See Note 2) 29,716 (88)
Proceeds from the FDIC 1,689 4,403 2,683
Payments to acquire property, plant, and equipment, net (2,297) (793) (1,239)
Proceeds from sale of other real estate 4,363 7,147 6,722
Net cash provided by (used in) investing activities 65,157 110,210 (70,785)
Financing activities      
Increase (decrease) in noninterest-bearing deposits, net 26,438 (17,482) 33,782
Increase (decrease) in interest-bearing deposits, net 62,115 (37,576) (161,282)
(Repayments of) proceeds from securities sold under agreements to repurchase, net (67,919) (40,609) 16,872
Repayments of FHLB and other borrowings, net (30,708) (48) (28,945)
Redemption of preferred stock (2,367)
Proceeds from stock options exercised 378 921 63
Excess tax benefit from equity-based compensation 174 8
Payments for repurchase of treasury stock (1,263) (23,762) (21,525)
Payments of common dividends (11,563) (10,396) (9,994)
Payments of preferred dividends (219)
Net cash used in financing activities (22,522) (128,778) (173,607)
Net increase (decrease) in cash and cash equivalents 81,644 24,520 (185,873)
Cash and cash equivalents at beginning of period 76,307 51,787 237,660
Cash and cash equivalents at end of period 157,951 76,307 51,787
Supplemental disclosure – cash flow information      
Cash paid for interest 8,267 9,845 11,757
Cash paid for income taxes 15,852 6,588 6,900
Supplemental transactions – noncash items      
Transfer of loans to other real estate 2,283 5,162 6,317
Loans originated to finance other real estate 57 649
Increase in accumulated other comprehensive income $ 1,171 $ 3,236 $ 358