skip to main content

Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Cash flows from operating activities

Net income 45,868 46,992 41,204 59,486 44,125

Adjustments to reconcile net income to net cash provided by operating activities

Provision for loan and lease losses (15,671) (5,517) (2,674) (1,124) 4,219
Depreciation and amortization of premises and equipment 5,870 6,049 6,441 6,288 4,628
Gain on sale of premises and equipment 0 (3,537) 0 0 NA
Non-cash lease expense NA NA NA NA 220
Cash flows from operating leases NA NA NA NA (4,663)
Loss on sale of other real estate, net of write-downs 198 (251) (192) 431 138
Amortization of core deposit premium and mortgage servicing rights 6,859 7,741 4,962 3,865 1,727
Net amortization and accretion of premium/discounts on investment securities 10,246 12,945 11,674 10,907 6,808
Share-based compensation expense 3,131 1,333 1,918 2,778 1,728
Net (gain) on sales of investment securities 1,866 0 1,410 279 (36)
Net gain on sales of residential mortgage loans (6,107) (7,631) (4,069) (4,085) (2,836)
Proceeds from sales of loans held for sale 379,318 432,331 319,556 240,137 152,684
Originations of loans held for sale (377,638) (442,472) (299,942) (226,363) (150,217)
Equity in earnings of unconsolidated subsidiaries (578) (723) (602) (233) (165)
Distributions from unconsolidated subsidiaries NA 0 0 685 175
Net increase in cash surrender value of bank-owned life insurance (2,407) (3,132) (3,940) (2,248) (1,499)
Deferred income taxes 26,079 24,427 32,206 7,874 7,548
Net tax benefits from share-based compensation 0 0 544 144 209
Net change in other assets and liabilities (2,529) 7,930 (11,712) 4,665 (12,309)
Net cash provided by operating activities 74,505 76,485 96,784 103,486 52,484

Cash flows from investing activities

Proceeds from maturities of and calls on investment securities available-for-sale 165,492 204,426 169,472 143,876 194,626
Proceeds from sales of investment securities available-for-sale 117,496 0 114,536 10,014 53,935
Purchases of investment securities available-for-sale (344,766) (195,456) (356,887) (85,366) (54,975)
Proceeds from maturities of and calls on investment securities held-to-maturity 26,524 30,989 25,237 42,722 0
Purchases of held-to-maturity investment securities (37,043) (1,644) 0 0 NA
Proceeds from sale of MasterCard stock NA NA NA NA 2,555
Net loan proceeds (originations) (218,195) (239,006) (166,051) (250,188) (214,834)
Purchases of loan portfolios (68,754) (76,946) (83,784) (58,564) (78,820)
Proceeds from sales of loans originated for investment 6,658 NA NA NA NA
Proceeds from sale of foreclosed loans/other real estate owned 6,691 2,850 286 46 0
Proceeds from bank-owned life insurance 723 1,506 3,240 1,101 NA
Proceeds from sale of premises and equipment 0 4,287 0 0 NA
Net purchases of premises and equipment (5,817) (5,896) (6,531) (3,225) (3,438)
Distributions from unconsolidated subsidiaries 524 645 658 622 NA
Net return of capital from unconsolidated subsidiaries 0 (5) (114) (3,297) 622
Net (purchases of) proceeds from redemption of FHLB stock 35,326 (2,966) 3,811 (8,884) (538)
Net cash used in investing activities (315,141) (277,216) (296,127) (211,143) (100,867)

Cash flows from financing activities

Net increase in deposits 323,139 174,762 348,153 (9,864) 91,169
Proceeds from long-term debt NA 0 0 50,000 NA
Repayments of long-term debt NA 0 0 (20,619) (20,619)
Net increase (decrease) in short-term borrowings 31,000 66,000 (103,000) 165,000 8,000
Cash dividends paid on common stock (26,143) (18,619) (21,299) (24,143) (19,189)
Repurchases of common stock and other related costs (93,533) (18,206) (26,559) (32,824) (17,966)
Net proceeds from issuance of common stock and stock option exercises 360 941 0 0 NA
Net cash provided by financing activities 234,823 204,878 197,295 127,550 41,395
Net (decrease) increase in cash and cash equivalents (5,813) 4,147 (2,048) 19,893 (6,988)
Cash and cash equivalents at beginning of period 86,007 80,194 84,341 82,293 102,186
Cash and cash equivalents at end of period 80,194 84,341 82,293 102,186 95,198

Supplemental disclosure of cash flow information

Cash paid during the period for

Interest 6,453 8,705 12,717 23,943 24,735
Income taxes 1,642 0 8,401 23 17,601

Cash received during the year for

Income taxes 0 1,605 0 0 NA

Supplemental disclosure of non-cash information

Net change in common stock held by directors' deferred compensation plan 154 681 385 504 416
Net reclassification of loans to other real estate 5,903 NA NA NA NA
Net transfer of portfolio loans to loans held for sale 6,658 NA NA NA NA
Net reclassification of loans to foreclosed loans/other real estate owned NA 1,428 154 40 190
Net transfer of investment securities held-to-maturity to available-for-sale NA NA NA NA 149,042
Right-of-use lease assets obtained in exchange for lease liabilities NA NA NA NA 55,887
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
Top