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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income     $ 24,967 $ 26,422  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation     2,690 2,518  
Provision for loan/lease losses $ 19,915 $ 1,941 28,282 4,075  
Stock-based compensation expense     1,064 1,441  
Deferred compensation expense accrued     1,705 1,323  
Losses (gains) on other real estate owned, net     (369) 1,214  
Amortization of premiums on securities, net     557 854  
Caplet amortization     234    
Securities (gains) losses, net     (65) 52  
Loans originated for sale     (98,837) (45,926)  
Proceeds on sales of loans     96,031 43,969  
Gains on sales of residential real estate loans (1,196) (489) (1,848) (858)  
Gains on sales of government guaranteed portions of loans   (39)   (70)  
Loss on liability extinguishment, net 429   576    
Gains on sales of premises and equipment     (8) (67)  
Amortization of intangibles 548 615 1,097 1,147  
Accretion of acquisition fair value adjustments, net     (1,361) (2,145)  
Increase in cash value of bank-owned life insurance     (941) (952)  
Goodwill impairment     500    
Decrease (increase) in other assets     (2,255) 942  
Decrease in other liabilities     (12,729) (4,615)  
Net cash provided by operating activities     39,290 29,324  
CASH FLOWS FROM INVESTING ACTIVITIES          
Net decrease in federal funds sold     7,675 16,183  
Net decrease (increase) in interest-bearing deposits at financial institutions     7,116 (62,084)  
Proceeds from sales of other real estate owned     4,341 539  
Activity in securities portfolio:          
Purchases     (166,743) (10,709)  
Calls, maturities and redemptions     11,946 5,958  
Paydowns     22,541 27,088  
Sales     4,592 4,661  
Activity in restricted investment securities:          
Purchases     (4,274) (3,868)  
Redemptions     4,317 7,362  
Net increase in loans/leases originated and held for investment     (447,385) (176,394)  
Purchase of premises and equipment     (1,828) (6,032)  
Proceeds from sales of premises and equipment     88 146  
Net cash (used in) investing activities     (557,614) (197,150)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Net increase in deposit accounts     408,849 345,614  
Net increase (decrease) in short-term borrowings     111,395 (9,583)  
Activity in Federal Home Loan Bank advances:          
Term advances     85,000 5,000  
Calls and maturities     (40,000) (35,000)  
Net change in short-term and overnight advances     (59,300) (130,865)  
Activity in other borrowings:          
Calls, maturities and scheduled principal payments       (11,937)  
Prepayments       (46,313)  
Paydown of revolving line of credit       (9,000)  
Prepayments on brokered and public time deposits     29,359    
Proceeds from subordinated notes       63,393  
Payment of cash dividends on common stock     (1,884) (1,881)  
Proceeds from issuance of common stock, net     1,008 794  
Repurchase and cancellation of shares     (3,780)    
Net cash provided by financing activities     530,647 170,222  
Net increase in cash and due from banks     12,323 2,396  
Cash and due from banks, beginning     76,254 85,523 $ 85,523
Cash and due from banks, ending $ 88,577 $ 87,919 88,577 87,919 $ 76,254
Supplemental disclosure of cash flow information, cash payments (receipts) for:          
Interest     19,377 29,346  
Income/franchise taxes     (1,099) (1,032)  
Supplemental schedule of noncash investing activities:          
Change in accumulated other comprehensive income, unrealized gains on securities available for sale and derivative instruments, net     (69) 4,586  
Exchange of shares of common stock in connection with payroll taxes for restricted stock and in connection with stock options exercised     (636) (160)  
Transfers of loans to other real estate owned       1,012  
Due to broker for purchases of securities     4,338    
Due from broker for sales of securities     1,735    
Increase (decrease) in the fair value of back-to-back interest rate swap assets and liabilities     140,048 43,628  
Dividends payable     $ 945 $ 942