| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Net Income | ||||||||
16,500 | 16,404 | 15,419 | 13,925 | 13,207 | 17,723 | 11,388 | 7,576 | 9,635 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Provision for loan losses | ||||||||
6,919 | 2,120 | 150 | 0 | 675 | 1,515 | - | 2,816 | 6,064 |
Provision for off balance sheet losses | ||||||||
50 | 0 | 109 | - | - | - | - | - | - |
Decrease (increase) in valuation of loans held for sale carried at fair value | ||||||||
98 | -669 | -240 | 1,210 | -4,147 | 706 | - | - | 1,626 |
Originations of loans held for sale | ||||||||
432,678 | 537,076 | 484,747 | 408,346 | 574,951 | 1,128,305 | 796,991 | 824,738 | 1,515,880 |
Proceeds from sales of loans held for sale | ||||||||
436,453 | 544,866 | 485,398 | 388,883 | 657,993 | - | - | - | - |
Proceeds from sales of loans held for sale | ||||||||
- | - | - | - | - | - | 6,600 | - | - |
Amortization of intangibles | ||||||||
2,720 | 0 | 0 | - | - | - | - | - | - |
Amortization on purchase accounting discounts | ||||||||
115 | 0 | 0 | - | - | - | - | - | - |
Decrease in valuation of loans held for sale carried at fair value | ||||||||
- | - | - | - | - | - | 2,878 | -771 | - |
Excess tax benefits | ||||||||
- | - | - | - | -6 | 0 | 0 | - | - |
Gain on sale of securities | ||||||||
- | - | - | - | - | - | - | 186 | - |
Deferred tax expense | ||||||||
8,997 | -698 | -534 | 866 | 89 | -1,061 | -618 | -66 | -1,525 |
Sales of loans held for sale | ||||||||
- | - | - | - | - | 1,112,594 | 786,988 | 817,955 | 1,525,586 |
Decrease in valuation allowance on derivatives | ||||||||
-402 | 394 | 383 | -205 | -370 | 526 | -341 | 114 | 75 |
Amortization of securities discounts and premiums, net | ||||||||
-2,860 | -2,051 | -1,077 | -790 | -383 | -105 | 16 | -105 | -72 |
Accretion of unfavorable lease liability | ||||||||
303 | 0 | 0 | - | - | - | - | - | - |
Stock-based compensation | ||||||||
442 | 335 | 332 | 236 | 195 | 231 | 213 | 175 | 162 |
Income from bank-owned life insurance | ||||||||
1,201 | 558 | 460 | 332 | - | 0 | - | - | - |
Income from bank-owned life insurance | ||||||||
- | - | - | - | 0 | - | - | - | - |
(Gain) loss on sale of securities | ||||||||
-1 | 109 | -89 | -47 | 0 | 0 | - | - | 984 |
Losses on sale of other real estate owned, net | ||||||||
109 | -35 | 0 | 0 | - | - | 1,325 | 1,155 | - |
Accretion of purchase accounting credit marks | ||||||||
4,296 | 0 | 0 | - | - | - | - | - | - |
Provision for losses on loans held for investment | ||||||||
- | - | - | - | - | - | 1,149 | - | - |
Provision for (recapture of provision for) losses on mortgage loans sold | ||||||||
- | - | - | -3,250 | 388 | 2,510 | 966 | - | - |
Provision for losses on mortgage loans sold | ||||||||
- | - | - | - | - | - | - | -3,836 | -5,050 |
Provision for off balance sheet losses | ||||||||
50 | 0 | 109 | 5 | 153 | 156 | 0 | 0 | - |
Impairment of other real estate owned | ||||||||
- | - | - | 707 | 0 | 0 | 310 | 2,071 | 1,245 |
Depreciation and amortization | ||||||||
1,462 | 515 | 507 | 485 | 478 | 427 | 448 | 440 | 565 |
Loss on disposal of assets | ||||||||
- | - | - | -2 | 1 | 0 | -39 | -6 | -2 |
Changes in assets and liabilities: | ||||||||
Decrease (increase) in other assets | ||||||||
9,223 | 2,113 | 1,470 | 3,342 | -901 | -30 | -1,560 | -4,060 | 8,228 |
(Decrease) increase in other liabilities | ||||||||
3,258 | 230 | 382 | 1,944 | -1,690 | -1,851 | - | - | - |
Increase (decrease) in other liabilities | ||||||||
- | - | - | - | - | - | 1,839 | -11,113 | 2,530 |
Net cash provided by operating activities | ||||||||
32,271 | 26,277 | 16,109 | - | 102,343 | 2,842 | 3,413 | 2,439 | 22,593 |
Cash Flows from Investing Activities | ||||||||
Net cash provided by (used in) operating activities | ||||||||
- | - | - | -8,385 | - | - | - | - | - |
Proceeds from maturities, calls, principal repayments and sales of securities available-for-sale | ||||||||
35,555 | 15,883 | 18,180 | 8,940 | 30,518 | 54,543 | 106,709 | 155,718 | 63,556 |
Proceeds from sales of available-for-sale securities | ||||||||
183,065 | 13,200 | 31,151 | 26,613 | 0 | 0 | - | 20,186 | 15,312 |
Purchases of securities available-for-sale | ||||||||
201,365 | 65,734 | 86,264 | 82,708 | 79,196 | 45,106 | 24,640 | 259,527 | 35,955 |
Purchases of premises, equipment and land, net | ||||||||
703 | 871 | 232 | 211 | 338 | 281 | 232 | 602 | 58 |
Proceeds from sale of equipment | ||||||||
- | - | - | 1 | 10 | 0 | 0 | - | - |
Proceeds from sale of assets | ||||||||
- | - | - | - | - | - | - | - | 23 |
Proceeds from sale of other real estate owned | ||||||||
4,222 | 463 | 0 | 0 | - | - | - | 7,394 | 350 |
Proceeds from maturities and calls of securities held-to-maturity | ||||||||
68 | 5,000 | 0 | 5,000 | 30,000 | 40,000 | 0 | 0 | - |
Purchase of securities held-to-maturity | ||||||||
- | - | - | 3,055 | 1,315 | 44,947 | 39,987 | 0 | - |
Purchases of Federal Reserve and Federal Home Loan Bank Stock | ||||||||
32,579 | 9,761 | 13,843 | 16,470 | - | - | - | - | - |
Proceeds from redemption of Federal Reserve and Federal Home Loan Bank Stock | ||||||||
-30,218 | -6,928 | -15,545 | -16,068 | - | - | - | - | - |
Purchase of bank owned life insurance | ||||||||
0 | 10,000 | 0 | 15,000 | 0 | 0 | - | - | - |
Decrease (increase) in loans, net | ||||||||
116,614 | 161,895 | 110,861 | 89,285 | 70,116 | 48,331 | 81,535 | 11,439 | 5,035 |
Cash acquired in business combination | ||||||||
90,940 | 0 | 0 | - | - | - | - | - | - |
Net cash provided by (used in) investing activities | ||||||||
-7,193 | -206,787 | -146,324 | - | -90,437 | -44,122 | -33,085 | -88,270 | 38,193 |
Cash Flows from Financing Activities | ||||||||
Net cash used in investing activities | ||||||||
- | - | - | -150,107 | - | - | - | - | - |
Increase in demand, interest-bearing demand and savings deposits | ||||||||
211,873 | 201,113 | 114,860 | 96,544 | 37,947 | 56,267 | 53,567 | 33,554 | 37,940 |
Decrease in time deposits | ||||||||
-88,678 | -60,530 | 43,441 | 85,927 | -136,471 | -29,785 | -36,401 | 127,649 | -56,696 |
Increase in securities sold under agreements to repurchase | ||||||||
- | - | - | - | - | - | - | - | -4,584 |
Net increase (decrease) in securities sold under agreement to repurchase | ||||||||
-31,990 | 35,880 | -4,506 | -2,220 | -10,236 | 8,187 | -11,144 | 14,244 | - |
Increase (decrease) in short-term borrowings | ||||||||
-34,059 | 59,000 | -90,000 | 15,000 | 100,000 | 15,000 | -39,300 | 1,856 | -34,742 |
Increase in long-term borrowings | ||||||||
-49,941 | 5,000 | 55,000 | 0 | -6,186 | -4,821 | -2,214 | -9,296 | 5,223 |
Proceeds from issuance of common stock | ||||||||
8,326 | 1,567 | 1,146 | 1,065 | 773 | 1,082 | - | - | - |
Net cash provided by financing activities | ||||||||
6,176 | 235,680 | 110,075 | - | -26,428 | 35,312 | -38,325 | 166,516 | -52,047 |
Proceeds from issuance of common stock | ||||||||
- | - | - | - | - | - | 347 | 467 | 1,400 |
Repurchase of common stock | ||||||||
- | - | - | - | 765 | 770 | 1,791 | 1,535 | 173 |
Dividends paid | ||||||||
9,355 | 6,350 | 9,866 | 5,214 | 11,490 | 9,848 | 1,389 | 423 | 415 |
Net cash provided by financing activities | ||||||||
- | - | - | 191,102 | - | - | - | - | - |
Increase in cash and cash equivalents | ||||||||
31,254 | 55,170 | -20,140 | 32,610 | -14,522 | -5,968 | -67,997 | 80,685 | 8,739 |
Supplemental Disclosures of Cash Flow Information | ||||||||
Interest paid | ||||||||
10,957 | 6,324 | 4,094 | 3,202 | 3,811 | 5,638 | 7,421 | 9,854 | 13,602 |
Income taxes | ||||||||
8,174 | 10,020 | 8,769 | 6,089 | 8,451 | 10,276 | 6,831 | 4,908 | 7,113 |
Unrealized gains (losses) on securities available for sale | ||||||||
-415 | -868 | -709 | 2,188 | -3,168 | 54 | 2,810 | -2,796 | - |
Transfer of loans held for investment to other real estate owned | ||||||||
0 | 129 | 0 | 0 | - | - | - | - | - |
Transfer of bank owned property to other real estate owned | ||||||||
0 | 129 | 0 | 0 | 0 | 0 | 3,726 | 5,058 | - |
Transactions related to bank acquisitions | ||||||||
Increase in assets and liabilities: | ||||||||
Purchased land transferred to other assets held for sale | ||||||||
643 | 0 | 0 | 1,207 | - | - | - | - | - |
Unrealized gain (loss) on securities available-for-sale | ||||||||
- | - | - | - | - | - | - | - | -1,176 |
Loans transferred to other real estate owned | ||||||||
- | - | - | - | - | - | - | - | 2,250 |