| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
51,691 | 39,227 | 20,539 | 35,491 | 21,111 | 13,763 | 13,093 | 12,772 | 10,359 | 9,166 | 8,763 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Provision for credit losses | ||||||||||
5,700 | 1,800 | 14,050 | 5,550 | 4,000 | 2,200 | 2,350 | 5,000 | 3,900 | 3,500 | 4,150 |
Depreciation and amortization of premises and equipment | ||||||||||
4,253 | 3,800 | 3,800 | 3,480 | - | - | - | - | - | - | - |
Net (accretion) and other amortization | ||||||||||
1,375 | 2,093 | 7,936 | 10,226 | -3,789 | 481 | 1,852 | 1,271 | 1,843 | 1,612 | 1,453 |
Net amortization on securities | ||||||||||
-4,365 | -4,009 | -6,361 | -6,501 | -4,936 | -3,763 | -5,168 | -5,573 | -2,400 | -1,454 | -305 |
Increase in cash surrender value of bank owned life insurance | ||||||||||
2,230 | 2,219 | 2,250 | 1,929 | 1,225 | 609 | 35 | - | - | - | - |
Amortization of other intangible assets | ||||||||||
787 | 917 | 1,047 | 2,637 | 1,447 | 300 | 59 | 67 | 42 | - | - |
Share based compensation expense | ||||||||||
3,692 | 3,487 | 2,585 | 2,142 | 1,689 | 1,234 | 1,296 | 1,343 | 1,047 | 881 | 750 |
Net securities (gains) losses | ||||||||||
200 | -7,921 | 38 | 449 | -8 | -1,090 | 659 | 2,647 | 135 | 1,303 | 529 |
Increase in accrued interest receivable | ||||||||||
-328 | -416 | 1,419 | 963 | 267 | 777 | 212 | 496 | 787 | 474 | 53 |
SBA loans originated for sale | ||||||||||
27,419 | 28,340 | 18,596 | 11,944 | 5,043 | - | - | - | - | - | - |
Proceeds from sale of the guaranteed portion of SBA loans | ||||||||||
29,922 | 30,898 | 20,667 | 13,286 | 5,659 | - | - | - | - | - | - |
Gain on sale of the guaranteed portion of SBA loans | ||||||||||
1,984 | 2,078 | 1,689 | 1,097 | 507 | - | - | - | - | - | - |
(Gain) loss on sale of loans | ||||||||||
- | 441 | -58 | 98 | 477 | - | - | - | - | - | - |
(Increase) decrease in other assets | ||||||||||
-3,942 | 2,373 | -5,426 | -8,331 | 6,815 | -5,783 | 1,366 | 2,287 | -1,593 | -2,041 | 6,875 |
Decrease in accrued expenses and other liabilities | ||||||||||
-1,509 | 3,430 | 4,194 | -6,476 | 10,799 | -1,417 | 3,483 | 1,737 | -1,582 | -1,454 | 1,529 |
Net cash provided by operating activities | ||||||||||
69,962 | 58,383 | 46,826 | 44,236 | 31,526 | 25,811 | 25,029 | 22,333 | 18,680 | 15,423 | 9,493 |
Cash flows from investing activities: | ||||||||||
Purchases of securities available for sale | ||||||||||
141,297 | 255,746 | 116,956 | 462,702 | 330,646 | 342,185 | 333,359 | 511,979 | 302,760 | 226,213 | 113,975 |
Purchases of securities, restricted | ||||||||||
97,206 | 505,272 | 654,017 | 537,930 | 318,887 | 408,439 | 164,503 | 31,355 | 315 | 2,055 | 19,514 |
Purchases of securities held to maturity | ||||||||||
- | 1,000 | 4,128 | 46,495 | 21,650 | 52,464 | 68,251 | 132,304 | 83,911 | 137,240 | 65,838 |
Proceeds from sales of securities available for sale | ||||||||||
46,500 | 230,400 | 52,400 | 264,358 | 75,750 | 360,963 | 129,431 | 151,959 | 14,084 | 31,446 | 13,087 |
Redemption of securities, restricted | ||||||||||
88,355 | 516,593 | 653,411 | 527,975 | 308,808 | 408,036 | 160,447 | 30,037 | 225 | 1,976 | 22,109 |
Maturities, calls and principal payments of securities available for sale | ||||||||||
149,456 | 92,818 | 118,092 | 167,045 | 113,217 | 80,242 | 130,411 | 266,095 | 196,886 | 175,013 | 108,838 |
Maturities, calls and principal payments of securities held to maturity | ||||||||||
25,642 | 20,851 | 45,334 | 30,460 | 34,897 | 37,983 | 76,128 | 89,123 | 61,844 | 66,056 | 31,752 |
Net increase in loans | ||||||||||
421,024 | 213,973 | 526,989 | 206,380 | 354,375 | 235,320 | 217,668 | 185,790 | 73,029 | 57,070 | 20,413 |
Proceeds from loan sale | ||||||||||
- | 40,133 | 23,171 | 18,116 | 21,011 | - | - | 575 | - | - | - |
Proceeds from sales of other real estate owned ("OREO"), net | ||||||||||
297 | - | - | 278 | - | 2,942 | 218 | - | - | - | - |
Purchase of bank owned life insurance | ||||||||||
- | - | - | 30,000 | - | 20,000 | 10,000 | - | - | - | - |
Purchase of premises and equipment | ||||||||||
3,307 | 5,325 | 2,069 | 4,270 | 4,325 | 5,232 | 4,029 | 3,592 | 2,031 | 3,989 | 4,382 |
Net cash acquired in business combination | ||||||||||
- | - | - | - | 24,628 | 2,926 | - | - | 2,309 | - | - |
Net cash provided by (used in) investing activities | ||||||||||
-352,606 | -80,549 | -411,784 | -279,545 | -451,572 | -170,548 | -301,175 | -327,231 | -186,698 | -152,076 | -48,336 |
Cash flows from financing activities: | ||||||||||
Net increase (decrease) in deposits | ||||||||||
-71,728 | 551,891 | 408,597 | 83,120 | 223,872 | 125,300 | 129,773 | 221,192 | 214,252 | 123,455 | 134,453 |
Net decrease in federal funds purchased | ||||||||||
- | 50,000 | 50,000 | 20,000 | -45,000 | -11,000 | -19,500 | -44,500 | 7,000 | -5,000 | 70,900 |
Net (decrease) increase in FHLB advances | ||||||||||
-194,568 | 260,855 | -5,056 | -199,666 | 124,087 | 1,499 | 83,000 | -15,000 | 5,016 | - | 30,000 |
Repayment of junior subordinated debentures | ||||||||||
- | - | 352 | - | - | 1,450 | - | - | - | - | - |
Net increase in repurchase agreements | ||||||||||
460 | -338 | 203 | -50,217 | 14,628 | 24,893 | -1,020 | -4,507 | 527 | 1,370 | - |
Net proceeds from issuance of subordinated debentures | ||||||||||
- | - | - | - | 78,324 | - | - | - | - | - | - |
Proceeds from issuance of junior subordinated debentures | ||||||||||
- | - | - | - | - | - | - | - | - | - | 16,002 |
Net proceeds from issuance of common stock | ||||||||||
1,102 | 1,017 | 951 | 48,442 | 779 | 631 | 46,237 | 10,507 | 28,088 | 1,395 | 255 |
Purchase of treasury stock | ||||||||||
625 | - | - | - | - | - | - | - | - | - | - |
Net proceeds from exercise of stock options | ||||||||||
- | - | - | 62 | 80 | 7 | 4 | - | - | 17 | 34 |
Repurchase of surrendered stock from vesting of stock plans | ||||||||||
887 | 586 | 350 | 344 | 228 | 173 | 291 | 175 | 128 | 37 | 35 |
Excess tax benefit from share based compensation | ||||||||||
- | - | - | - | 50 | 36 | 21 | -18 | -16 | 11 | 12 |
Cash dividends paid | ||||||||||
18,420 | 18,342 | 18,238 | 16,140 | 13,415 | 10,657 | 6,754 | 9,898 | 6,061 | 5,787 | 5,716 |
Other, net | ||||||||||
- | - | - | - | -303 | -192 | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
104,470 | 222,787 | 345,867 | 244,589 | 472,874 | 150,894 | 270,470 | 276,601 | 224,646 | 125,424 | 44,105 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
-178,174 | 200,621 | -19,091 | 9,280 | 52,828 | 6,157 | -5,676 | -28,297 | 56,628 | -11,229 | 5,262 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for: | ||||||||||
Interest | ||||||||||
39,395 | 32,254 | 22,917 | 16,640 | 8,793 | 7,377 | 7,194 | 7,727 | 7,730 | 7,838 | 7,956 |
Income taxes | ||||||||||
9,158 | 2,474 | 8,445 | 21,585 | 8,744 | 4,068 | 5,108 | 5,260 | 4,550 | 5,922 | 3,264 |
Non-cash investing and financing activities: | ||||||||||
Transfers from portfolio loans to loans held for sale | ||||||||||
12,643 | - | - | - | - | - | - | - | 2,300 | - | - |
Conversion of junior subordinated debentures | ||||||||||
- | - | 15,350 | - | - | - | - | - | - | - | - |
Financing of sale of loans held for sale | ||||||||||
- | - | - | - | - | - | - | 1,725 | - | - | - |
Transfers from portfolio loans to other real estate owned | ||||||||||
- | 175 | - | - | 250 | 577 | 2,242 | 250 | - | - | - |
Acquisition of noncash assets and liabilities: | ||||||||||
Fair value of assets acquired | ||||||||||
- | - | - | - | 875,302 | 209,022 | - | - | 66,566 | - | - |
Fair value of liabilities assumed | ||||||||||
- | - | - | - | 831,422 | 213,224 | - | - | 65,059 | - | - |