| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
62,740 | 49,670 | 28,565 | 17,570 | 14,420 | 8,311 | 16,818 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||
Provision for loan losses | ||||||
2,580 | 2,059 | 779 | - | 0 | - | -860 |
Deferred income tax expense (benefit) | ||||||
1,553 | -1,530 | 8,226 | 800 | -307 | - | 542 |
Amortization of unearned discount/premium on investments, net | ||||||
-4,250 | -4,595 | -3,856 | -3,039 | -3,416 | -2,802 | -2,318 |
Accretion of deferred loan fees | ||||||
-2,656 | -2,386 | -1,279 | 674 | 955 | 550 | 4,424 |
Accretion of acquired loans | ||||||
7,559 | 9,846 | 4,286 | -814 | 0 | 0 | - |
Amortization of core deposit intangibles | ||||||
-2,910 | -3,139 | -1,037 | -407 | -343 | -47 | -2,444 |
Net gain (loss) on sale of securities | ||||||
3,891 | -1,946 | 933 | 706 | 1,493 | 1,084 | -1,125 |
Mortgage banking income | ||||||
19,326 | 15,295 | 15,140 | 17,226 | 17,417 | 11,908 | 29,914 |
Originations of loans held for sale | ||||||
907,427 | 852,929 | 909,627 | 972,422 | 1,060,241 | 982,204 | 1,616,594 |
Proceeds from sale of loans held for sale | ||||||
912,443 | 886,544 | 922,431 | 999,853 | 1,076,796 | 990,097 | 1,760,073 |
Loss on extinguishment of debt | ||||||
-178 | - | - | -1,868 | -1,251 | -58 | -19 |
Recovery of mortgage loan repurchase losses | ||||||
-400 | -600 | -900 | -1,000 | -1,000 | -750 | 2,438 |
Mortgage repurchase loan losses paid, net of recoveries | ||||||
- | - | -88 | 4 | -123 | -360 | -1,211 |
Fair value adjustments on interest rate swaps | ||||||
-3,659 | -340 | 382 | 590 | -1,111 | -1,170 | 428 |
Stock-based compensation | ||||||
3,143 | 2,700 | 1,658 | 1,271 | 874 | 617 | 303 |
Increase in cash surrender value of bank owned life insurance | ||||||
1,591 | 1,530 | 1,116 | -902 | -726 | -731 | 267 |
Depreciation | ||||||
4,359 | 4,181 | 2,756 | 1,972 | 1,778 | 1,229 | 918 |
Loss (gain) on disposals of premises and equipment | ||||||
-61 | 2 | -23 | 1 | -11 | -8 | 24 |
Loss (gain) on sale of real estate acquired through foreclosure | ||||||
149 | -110 | -33 | 88 | 10 | 91 | 425 |
Purchases of mortgage servicing rights | ||||||
461 | 9,853 | - | - | - | - | - |
Write-down of real estate acquired through foreclosure | ||||||
- | 126 | - | -15 | 0 | -526 | -849 |
Gain on sale of servicing assets | ||||||
- | - | - | - | - | 775 | 5,489 |
Originations of mortgage servicing rights | ||||||
-1,368 | -6,283 | -6,061 | -5,911 | -3,238 | -1,868 | -6,860 |
Impairment of mortgage servicing rights | ||||||
3,100 | - | - | - | - | - | - |
Amortization of mortgage servicing rights | ||||||
5,721 | 4,206 | 2,966 | 2,312 | 1,986 | 1,795 | - |
Accrued interest receivable | ||||||
-389 | 1,502 | 6,619 | 754 | 705 | 668 | -401 |
Prepaid FDIC insurance | ||||||
- | - | - | - | - | - | 2,035 |
Other assets | ||||||
-5,865 | 10,670 | -29,271 | -1,737 | 416 | 464 | -906 |
Increase (decrease) in: | ||||||
Accrued interest payable | ||||||
336 | 465 | 799 | -28 | 21 | 1 | -1,288 |
Dividends payable to stockholders | ||||||
651 | 525 | 549 | 141 | 118 | 243 | 0 |
Accrued expenses and other liabilities | ||||||
126 | 106 | -6,588 | 2,365 | -5,224 | 4,116 | -3,391 |
Cash flows provided by (used in) operating activities | ||||||
57,784 | 69,406 | -8,678 | 28,764 | 11,102 | 10,495 | 129,238 |
Cash flows from investing activities: | ||||||
Activity in available-for-sale securities: | ||||||
Purchases | ||||||
250,572 | 351,329 | 345,815 | 165,510 | 207,316 | 193,577 | 177,284 |
Maturities, payments and calls | ||||||
125,305 | 105,005 | 77,781 | 57,909 | 52,906 | 37,782 | 51,180 |
Proceeds from sales | ||||||
151,389 | 135,681 | 173,727 | 99,113 | 105,840 | 74,901 | 91,653 |
Purchases | ||||||
- | - | - | - | 497 | 1,487 | -6,708 |
Maturities, payments and calls | ||||||
- | - | - | - | 199 | 536 | 299 |
Increase in other investments | ||||||
- | - | - | -29 | -973 | -419 | -130 |
Increase in Federal Home Loan Bank stock | ||||||
117 | 2,631 | 6,400 | 804 | 4,514 | 1,302 | -2,310 |
Increase in loans receivable, net | ||||||
214,221 | 192,852 | 182,467 | 180,077 | 144,812 | 163,846 | 32,386 |
Proceeds from the sale of servicing assets | ||||||
- | - | - | - | - | 1,575 | 11,036 |
Purchases of premises and equipment | ||||||
5,703 | 3,724 | 7,002 | 3,714 | 3,329 | 4,017 | 2,136 |
Proceeds from disposals of premises and equipment | ||||||
- | 10 | - | 1 | 34 | 0 | 54 |
Proceeds from sale of real estate acquired through foreclosure | ||||||
1,065 | 1,840 | 660 | 3,898 | 2,182 | 4,060 | 3,727 |
Purchase of bank owned life insurance | ||||||
- | - | 25 | 25 | 6,025 | 0 | 20,053 |
Distribution of bank owned life insurance | ||||||
- | - | - | - | 175 | 0 | 223 |
Net cash received for acquisitions | ||||||
72,285 | - | 122,320 | 3,668 | 0 | 131,135 | 0 |
Cash flows (used in) investing activities | ||||||
-120,569 | -308,000 | -167,221 | -185,570 | -206,130 | -114,659 | -89,251 |
Cash flows from financing activities: | ||||||
Net increase in deposit accounts | ||||||
152,355 | 113,264 | 83,230 | 137,407 | 67,338 | 51,488 | 44,334 |
Net (decrease) increase in Federal Home Loan Bank advances | ||||||
3,178 | -52,177 | -100,772 | 13,632 | 104,249 | 34,942 | 47,519 |
Net increase in other short-term borrowed funds | ||||||
- | - | - | - | - | - | -4,682 |
Principal repayment of subordinated debt | ||||||
- | - | - | - | 1,575 | 300 | 10,300 |
Net (decrease) increase in drafts outstanding | ||||||
-327 | 805 | 1,101 | 4,069 | -1,166 | 617 | -307 |
Net (decrease) increase in advances from borrowers for insurance and taxes | ||||||
-820 | 1,095 | 1,947 | 417 | 28 | 329 | -329 |
Cash dividends paid on common stock | ||||||
8,021 | 5,563 | 2,371 | 1,475 | 781 | 606 | 401 |
Proceeds from exercise of stock options | ||||||
961 | 56 | 10 | 27 | 70 | 50 | 43 |
Issuance of common stock, net of offering expenses | ||||||
- | 63,022 | 47,671 | - | 32,156 | 0 | - |
Stock repurchase plan, net of commissions | ||||||
-7,115 | -5,381 | - | - | - | - | - |
Net increase in excess tax benefit in connection with equity awards | ||||||
- | - | 439 | 454 | 189 | 126 | 0 |
Cash flows provided by financing activities | ||||||
133,855 | 219,475 | 232,799 | 154,531 | 200,508 | 86,646 | -19,161 |
Net increase (decrease) in cash and cash equivalents | ||||||
71,070 | -19,119 | 56,900 | -2,275 | 5,480 | -17,518 | 20,826 |
Supplemental disclosure: | ||||||
Interest on deposits and borrowed funds | ||||||
37,007 | 26,783 | 12,454 | 8,759 | 6,583 | 5,601 | 7,006 |
Income taxes paid, net of refunds | ||||||
10,738 | 6,822 | 11,521 | 7,101 | 7,160 | 3,553 | 11,556 |
Noncash investing activities: | ||||||
Transfer of loans receivable to real estate acquired through foreclosure | ||||||
1,299 | 285 | 2,554 | 2,630 | 1,307 | 1,461 | 4,140 |
Transfer of available-for-sale securities to held-to-maturity securities | ||||||
- | - | - | 16,955 | 12,652 | 0 | 8,649 |
Acquisitions: | ||||||
Assets acquired, net of cash | ||||||
562,711 | - | 1,356,242 | 100,554 | 0 | - | - |
Liabilities assumed | ||||||
572,161 | - | 1,345,119 | 92,203 | 0 | - | - |
Net (liabilities) assets | ||||||
- | - | - | 8,351 | 0 | - | - |
Goodwill | ||||||
56,667 | - | 123,325 | 4,266 | 0 | - | - |
Change in unrealized gain on available-for-sale securities | ||||||
- | - | - | - | - | - | 3,401 |