XML 28 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements Of Cash Flows
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Operating Activities      
Net income $ 40,067,000 $ 20,952,000 $ 24,570,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 5,258,000 1,936,000 2,220,000
Depreciation and amortization expense 4,426,000 3,614,000 3,051,000
Purchase accounting accretion, net (5,048,000) (367,000) (554,000)
Investment securities amortization and accretion, net 3,135,000 2,244,000 1,784,000
Stock-based compensation expense 1,997,000 836,000 599,000
Amortization of intangible assets 1,903,000 1,306,000 1,148,000
Net gains on sale of securities (51,000) (4,000) (451,000)
Net increase in other real estate owned valuation allowance and (gain) loss on disposition 35,000 362,000 215,000
Originations of mortgage loans held for sale (236,450,000) (72,032,000) (799,000)
Proceeds from the sale of mortgage loans 238,351,000 62,485,000 830,000
Gain on sale of mortgage loans, net of origination costs (6,201,000) (1,278,000) (31,000)
Cost of fixed assets disposals associated with the SBM acquisition 0 1,130,000 0
Goodwill impairment 0 0 0
(Increase) decrease in other assets 11,329,000 (7,062,000) (3,349,000)
Increase (decrease) in other liabilities (1,333,000) 1,796,000 653,000
Net cash provided by operating activities 57,418,000 15,918,000 29,886,000
Investing Activities      
Cash received in SBM acquisition, net of cash paid 0 59,917,000 0
Proceeds from sales and maturities of available-for-sale securities 184,564,000 156,434,000 134,358,000
Purchase of available-for-sale securities (220,169,000) (111,170,000) (78,355,000)
Purchase of securities held-to-maturity (10,986,000) (64,355,000) (20,338,000)
Net increase in loans (103,699,000) (94,811,000) (196,670,000)
Proceeds from sale of premises and equipment 90,000 0 0
Purchase of premises and equipment (1,671,000) (3,189,000) (1,316,000)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (7,342,000) (1,594,000) (718,000)
Proceeds from sale of other real estate owned 5,652,000 471,000 51,000
Proceeds from sale of other real estate owned 730,000 2,825,000 1,730,000
Recoveries of previously charged-off loans 486,000 728,000 746,000
Purchase of bank-owned life insurance, net of death benefit proceeds (15,608,000) 0 (10,000,000)
Net cash used in investing activities (167,953,000) (54,744,000) (170,512,000)
Financing Activities      
Net increase in deposits 103,027,000 71,825,000 118,435,000
Net increase (decrease) in other borrowed funds 77,227,000 (18,105,000) 46,954,000
Repayments on Federal Home Loan Bank long-term advances (25,000,000) (11,039,000) (60,073,000)
Proceeds from Federal Home Loan Bank long-term advances 0 10,000,000 60,000,000
Repayments of Other Debt (25,000,000) 0 0
Issuance of subordinated debt, net of costs 0 14,464,000 0
Common stock repurchases 0 0 (7,475,000)
Equity issuance costs 0 (612,000) 0
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings and tax benefit (894,000) (753,000) (328,000)
Cash dividends paid on common stock and cash in lieu for fractional shares paid due to stock split (12,394,000) (9,785,000) (8,085,000)
Net cash provided by financing activities 118,754,000 57,501,000 150,084,000
Net increase in cash and cash equivalents 8,219,000 18,675,000 9,458,000
Cash and cash equivalents at beginning of year 79,488,000 60,813,000 51,355,000
Cash and cash equivalents at end of year 87,707,000 79,488,000 60,813,000
Supplemental information      
Interest paid 16,661,000 12,588,000 12,158,000
Income taxes paid 10,647,000 12,205,000 13,365,000
Transfer of loans and premises to other real estate owned 383,000 2,175,000 1,337,000
Measurement-period adjustments 960,000 0 0
Assets acquired in SBM acquisition, excluding net cash received (not adjusted for measurement-period adjustments) 0 729,283,000 0
Liabilities assumed in SBM acquisition (not adjusted for measurement-period adjustments) 0 729,500,000 0
Common stock and stock options issued for SBM acquisition $ 0 $ 110,551,000 $ 0