XML 18 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 27,455 $ 26,331
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 3,650 4,150
Depreciation and (accretion) (2,913) (5,011)
Net amortization on securities 4,865 4,699
Increase in cash surrender value of bank owned life insurance (1,690) (1,358)
Amortization of intangible assets 800 1,810
Share based compensation expense 1,972 1,597
Net securities gains (260) (449)
Increase in accrued interest receivable (772) (297)
Small Business Administration ("SBA") loans originated for sale (15,523) (7,220)
Proceeds from sale of the guaranteed portion of SBA loans 17,290 8,042
Gain on sale of the guaranteed portion of SBA loans (1,442) (670)
Loss on sale of loans 33  
(Increase) decrease in other assets (664) 2,468
Increase (decrease) in accrued expenses and other liabilities 3,824 (5,668)
Net cash provided by operating activities 36,625 28,424
Cash flows from investing activities:    
Purchases of securities available for sale (87,916) (263,576)
Purchases of securities, restricted (404,267) (299,908)
Purchases of securities held to maturity (3,628) (43,489)
Proceeds from sales of securities available for sale 26,685 264,358
Redemption of securities, restricted 404,776 300,181
Maturities, calls and principal payments of securities available for sale 89,630 137,821
Maturities, calls and principal payments of securities held to maturity 36,390 23,766
Net increase in loans (319,312) (176,770)
Proceeds from loan sale 2,574  
Proceeds from sales of other real estate owned, net   278
Purchase of bank owned life insurance   (30,000)
Purchase of premises and equipment (2,595) (2,500)
Net cash used in investing activities (257,663) (89,839)
Cash flows from financing activities:    
Net increase in deposits 277,345 80,762
Net decrease in federal funds purchased (50,000) (20,000)
Net decrease in Federal Home Loan Bank advances (19,733) (27,624)
Repayment of junior subordinated debentures (352)  
Net increase in repurchase agreements 172 203
Net proceeds from issuance of common stock 721 688
Repurchase of surrendered stock from vesting of restricted stock awards (330) (328)
Cash dividends paid (13,670) (12,095)
Net cash provided by financing activities 194,153 21,606
Net decrease in cash and cash equivalents (26,885) (39,809)
Cash and cash equivalents at beginning of period 113,838 104,558
Cash and cash equivalents at end of period 86,953 64,749
Cash paid for:    
Interest 17,660 13,690
Income tax 4,195 $ 17,082
Noncash investing and financing activities:    
Conversion of junior subordinated debentures $ 15,350