XML 24 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 68,432 $ 45,925 $ 46,481
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 1,550 2,600 5,650
Depreciation of premises and equipment 3,282 3,454 3,651
Net amortization of premiums and discounts on securities and loans 2,865 3,426 2,779
Amortization of intangibles 979 1,035 1,284
Goodwill impairment 0 150 0
Share–based compensation 2,602 2,577 2,190
Tax benefit from stock option exercises and other equity awards 496 508 1,016
Deferred income tax (benefit) expense (63) 5,687 868
Income from bank-owned life insurance (2,196) (2,161) (2,659)
Net gains on loan sales and commissions on loans originated for others, including fair value adjustments (9,749) (10,991) (13,137)
Net gain on sale of portfolio loans 0 0 (135)
Proceeds from sales of loans 391,960 472,556 551,788
Loans originated for sale (378,896) (461,262) (532,950)
Change in fair value of contingent consideration liability (187) (643) (898)
(Increase) decrease in other assets (7,456) (8,794) 984
Increase (decrease) in other liabilities 9,257 5,318 (7,163)
Net cash provided by operating activities 82,876 59,385 59,749
Cash flows from investing activities:      
Purchases of mortgage-backed securities available for sale (175,539) (89,194) (431,662)
Purchases of other investment securities available for sale (76,264) (59,940) (121,679)
Maturities and principal payments of mortgage-backed securities available for sale 83,197 84,381 65,673
Maturities and principal payments of other investment securities available for sale 7,301 22,071 108,256
Maturities and principal payments of mortgage-backed securities held to maturity 2,029 2,950 4,193
(Purchases) remittance of Federal Home Loan Bank stock (5,551) 2,612 (18,813)
Net increase in loans (306,299) (120,582) (112,966)
Proceeds from sale of portfolio loans 0 0 510
Purchases of loans (1,780) (20,278) (113,562)
Proceeds from the sale of property acquired through foreclosure or repossession 49 1,053 731
Purchases of premises and equipment (3,974) (2,779) (3,112)
Purchases of bank-owned life insurance (5,000) 0 (5,000)
Proceeds from bank-owned life insurance 0 0 2,054
Net cash used in investing activities (481,831) (179,706) (625,377)
Cash flows from financing activities:      
Net increase in deposits 281,341 178,955 129,497
Proceeds from Federal Home Loan Bank advances 2,040,000 1,352,501 1,428,750
Repayment of Federal Home Loan Bank advances (1,880,634) (1,410,075) (958,793)
Payment of contingent consideration liability (1,217) 0 0
Proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (671) 366 977
Cash dividends paid (29,312) (26,300) (24,637)
Net cash provided by financing activities 409,507 95,447 575,794
Net increase (decrease) in cash and cash equivalents 10,552 (24,874) 10,166
Cash and cash equivalents at beginning of year 82,923 107,797 97,631
Cash and cash equivalents at end of year 93,475 82,923 107,797
Noncash Investing and Financing Activities:      
Loans charged-off 1,187 2,462 7,012
Loans transferred to property acquired through foreclosure or repossession 3,074 576 1,075
Supplemental Disclosures:      
Interest payments 41,285 29,687 22,267
Income tax payments $ 17,148 $ 25,988 $ 19,822