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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES      
NET INCOME $ 25,515 $ 16,616 $ 8,993
Adjustments to net income:      
Depreciation and amortization expense 2,432 2,198 1,948
Provision for loan losses 6,425 4,684 1,860
Share-based compensation expense 1,165 514 943
Loss on sale of or write down of other real estate owned 92 17 580
Amortization of premium/discounts on securities held for sale, net 3,822 2,641 3,052
Accretion of discounts/premiums for loans acquired and deferred loan fees/costs (2,967) (2,179) (3,555)
Gain on sale of investment securities available for sale (290) (1,547) (1,544)
Other-than-temporary impairment loss (recovery) on investment securities, net 0 (29) 4
Originations of loans held for sale (87,900) 0 0
Recoveries on loans 73 99 377
Proceeds from the sales of and principal payments from loans held for sale 86,604 31 534
Gain on sale of loans (7,970) (6,120) (3,228)
Deferred income tax provision (benefit) (1,395) (2,375) (3,750)
Change in accrued expenses and other liabilities, net 6,786 2,764 9,683
Income from bank owned life insurance, net (1,147) (771) (659)
Amortization of core deposit intangible 1,350 1,014 764
Change in accrued interest receivable and other assets, net (7,347) (4,270) (498)
Net cash provided by operating activities 25,248 13,287 15,504
CASH FLOWS FROM INVESTING ACTIVITIES      
Net increase in interest-bearing time deposits with financial institutions (1,972) 0 0
Proceeds from sale of loans 70,489 97,848 39,411
Increase in loans, net (361,002) (397,347) (223,792)
Change in other real estate owned from sales and writedowns (216) 777 1,488
Purchase of held to maturity securities (9,642) 0 0
Principal payments on securities available for sale 33,751 26,815 33,688
Purchase of securities available for sale (90,127) (133,689) (101,268)
Proceeds from sale or maturity of securities available for sale 27,642 166,341 234,067
Investment in bank owned life insurance 0 (2,000) 0
Purchases of premises and equipment (1,887) (1,448) (3,581)
Purchase of Federal Reserve Bank stock (1,706) (536) (5,948)
Redemption (purchase) of FHLB stock (1,150) (1,081) 2,398
Cash acquired (disbursed) in acquisitions 2,961 (7,793) 138,424
Net cash (used in) provided by investing activities (332,859) (252,113) 114,887
CASH FLOWS FROM FINANCING ACTIVITIES      
Net (decrease) increase in deposit accounts 228,279 324,540 (139,207)
Proceeds from issuance of subordinated debt 0 58,834 0
Change in FHLB advances and other borrowings, net 46,182 (155,065) 71,686
Proceeds from issuance of common stock, net of issuance cost 0 0 4,560
Proceeds from exercise of stock options and warrants 758 267 90
Repurchase of common stock (116) (5,638) (59)
Net cash provided (used in) financing activities 275,103 222,938 (62,930)
Net increase (decrease) in cash and cash equivalents (32,508) (15,888) 67,461
Cash and cash equivalents, beginning of year 110,925 126,813 59,352
Cash and cash equivalents, end of year 78,417 110,925 126,813
SUPPLEMENTAL CASH FLOW DISCLOSURES      
Interest paid 12,081 6,500 5,352
Income taxes paid 12,127 14,700 9,425
Assets acquired (liabilities assumed) in acquisitions (See Note 23):      
Investment securities 53,752 0 347,196
FRB / FHLB / TIB Stock 2,369 0 1,765
Loans 332,893 78,833 69,144
Core deposit intangible 2,903 0 4,766
Deferred income tax 4,794 0 0
Bank owned life insurance 11,276 0 0
Other real estate owned 0 0 752
Goodwill 27,882 5,522 17,428
Fixed assets 2,134 74 1,446
Other assets 2,402 702 12,468
Deposits (336,018) 0 (540,725)
Other borrowings (33,300) (67,617) (16,905)
Other liabilities (1,796) (709) (6,722)
NONCASH INVESTING ACTIVITIES DURING THE PERIOD      
Transfers from loans to other real estate owned 450 645 996
Loans held for sale transfer to loans held for investment $ 0 $ 2,936 $ 0