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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 64,540 $ 59,228 $ 51,493
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 5,515 3,786 4,007
Deferred taxes (1,412) (246) (3,090)
Stock-based compensation 859 710 636
Provision for loan losses 4,819 6,167 7,521
Write-downs of other real estate owned and other repossessed assets 4,295 2,530 3,034
Gains on sale of loans held for sale (1,880) (1,288) (1,320)
Securities (gains) losses (3) 85 (73)
Fair value adjustment in equity securities (780) 0 0
Gain on debt repurchase (219) 0 (560)
Gains (losses) on sale of assets, net 360 (175) 40
Proceeds from sale of mortgage loans held for sale 94,507 56,689 59,400
Funding of mortgage loans held for sale (91,333) (56,829) (57,869)
Amortization of securities premiums and discounts, net 5,042 4,679 3,437
Change in cash surrender value of bank owned life insurance (1,567) (2,924) (1,473)
Payment of operating lease liabilities (1,663) 0 0
Mortgage servicing rights:      
Fair value adjustments 975 343 361
New servicing assets created (631) (466) (412)
Changes in:      
Accrued interest receivable (404) (1,094) (1,416)
Other assets 4,941 (14,694) (2,996)
Accrued interest payable (63) (674) (1,028)
Other liabilities (2,440) 9,660 2,659
Net cash provided by operating activities 83,458 65,487 62,351
Certificates of deposit in other banks:      
Purchase of certificates of deposit 0 0 (11,760)
Maturity of certificates of deposit 3,675 5,880 2,940
Securities available-for-sale (AFS):      
Purchase of AFS securities (196,727) (281,511) (231,680)
Proceeds from sales of AFS securities 25,734 153,315 87,472
Proceeds from prepayments, calls, and maturities of AFS securities 174,125 109,701 159,584
Securities held-to-maturity (HTM):      
Proceeds from prepayments and maturities of HTM securities 132 10 207
Change in loans, net (46,162) (93,151) (194,548)
Purchase of premises and equipment (2,570) (2,832) (2,400)
Proceeds from sale and retirement of premises and equipment 48 97 25
Redemption of stock by Federal Home Loan Bank 4,239 3,214 0
Proceeds from sale of other real estate owned and repossessed assets 3,641 3,485 3,574
Additional investment in bank owned life insurance (1,241) 0 0
Proceeds from settlement of bank owned life insurance 615 1,202 0
Net cash used in investing activities (34,491) (100,590) (186,586)
Cash flows from financing activities:      
Change in deposits, net 99,622 42,087 182,555
Change in repurchase agreements and federal funds purchased, net 931 (17,234) (4,755)
Advances from Federal Home Loan Bank 30,000 0 350,000
Payments on advances from Federal Home Loan Bank (30,021) (409) (350,099)
Payment of finance lease liabilities (14) 0 0
Repurchase of long-term debt (1,281) 0 (1,440)
Issuance of common stock 1,264 1,230 1,513
Dividends paid (26,235) (24,395) (22,981)
Net cash provided by financing activities 74,266 1,279 154,793
Net increase (decrease) in cash and cash equivalents 123,233 (33,824) 30,558
Cash and cash equivalents at beginning of year 141,450 175,274 144,716
Cash and cash equivalents at end of year 264,683 141,450 175,274
Supplemental disclosures:      
Income taxes paid 9,988 9,700 21,400
Interest paid 40,576 28,621 17,266
Non-cash activities:      
Loans to facilitate the sale of other real estate owned and repossessed assets 2,879 4,385 2,679
Common stock dividends accrued, paid in subsequent quarter 221 221 205
Real estate acquired in settlement of loans $ 3,384 $ 5,459 $ 5,235