| Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
14,436 | 11,863 | 5,572 | 5,955 | - | - | - |
Net income | ||||||
- | - | - | - | 6,256 | 4,978 | 2,305 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Provision for loan losses | ||||||
-900 | -250 | 0 | - | - | 8,202 | 4,800 |
Provision for non-acquired loan losses | ||||||
- | - | - | 300 | - | - | - |
Provision for non-acquired loan losses | ||||||
- | - | - | - | 1,400 | 3,300 | 1,700 |
Provision for acquired loan losses | ||||||
- | - | - | -1,012 | 89 | 1,201 | 1,200 |
Provision for FDIC receivable impairment | ||||||
0 | 0 | 2,541 | 521 | - | - | - |
Provision for FDIC receivable impairment | ||||||
- | - | - | - | -642 | 0 | 0 |
Depreciation and amortization | ||||||
1,767 | 1,476 | 1,523 | 1,395 | 1,571 | 1,782 | 1,335 |
Deferred income tax expense | ||||||
-55 | 1,050 | 1,857 | 2,560 | -3,615 | -2,738 | -1,973 |
Accretion and amortization of premiums and discounts, net | ||||||
-1,005 | -935 | -1,331 | -2,010 | -2,853 | -2,974 | -1,995 |
Accretion of fair value discounts related to acquired loans | ||||||
-1,741 | -4,371 | -5,945 | -6,593 | -8,922 | -8,987 | -8,248 |
Accretion of fair value discounts related to FDIC receivable | ||||||
0 | 0 | 106 | 347 | - | - | - |
Accretion of fair value discounts related to FDIC receivable | ||||||
- | - | - | - | -675 | 1,461 | 1,035 |
Amortization of FDIC loss share receivable | ||||||
0 | 0 | 2,387 | 3,507 | 0 | - | - |
Write down of asset held for sale | ||||||
0 | 325 | 87 | 0 | 0 | - | - |
Gain on sale of loans | ||||||
2,418 | 2,118 | 1,612 | 1,103 | 1,334 | 961 | 655 |
Proceeds from sale of loans | ||||||
100,316 | 87,666 | 64,715 | 43,420 | 50,753 | 40,057 | 33,976 |
Originations and purchases of loans held for sale | ||||||
97,410 | 86,590 | 62,455 | 42,514 | 48,584 | 41,496 | 31,550 |
Gain on acquisition | ||||||
- | - | - | - | - | 0 | 1,095 |
Gain on sale of mortgage-backed securities, collateralized mortgage obligations and other investments | ||||||
247 | 48 | -27 | 200 | 249 | 939 | 774 |
Other-than-temporary impairment-securities | ||||||
- | - | - | - | - | 273 | 2,296 |
Write down of real estate owned | ||||||
29 | 163 | 246 | 523 | 1,683 | 1,298 | 774 |
Gain on sale of real estate owned | ||||||
624 | 900 | 397 | 298 | 581 | -24 | -44 |
(Gain) loss on sale of fixed assets | ||||||
-46 | -61 | 7 | 0 | 0 | - | - |
Loss on sale and writedowns of other assets held for sale | ||||||
- | - | - | - | - | -588 | -349 |
FHLB advance prepayment penalty | ||||||
- | - | - | - | - | 0 | 809 |
Restricted stock award expense | ||||||
797 | 784 | 792 | 662 | 53 | 108 | 216 |
Stock option expense | ||||||
327 | 330 | 330 | 291 | 69 | 93 | 105 |
Increase in cash surrender value of bank owned life insurance | ||||||
1,195 | 1,225 | 1,245 | 1,252 | 993 | 1,057 | 1,096 |
Gain on settlement of bank owned life insurance | ||||||
0 | 266 | 0 | 0 | - | - | - |
Donation of other real estate owned | ||||||
0 | 21 | 0 | 0 | - | - | - |
Changes in assets and liabilities: | ||||||
Increase in accrued interest and dividends receivable | ||||||
286 | -65 | 209 | -269 | -512 | -449 | -267 |
Decrease (increase) in other assets | ||||||
-2,499 | -4,240 | -905 | 647 | 6,960 | -1,741 | -4,125 |
(Decrease) increase in other liabilities | ||||||
2,904 | -4,952 | 8,207 | 1,383 | 3,485 | -2,242 | -5,239 |
Net cash provided by operating activities | ||||||
19,251 | 8,261 | 18,547 | 8,830 | -2,546 | -1,013 | -165 |
Cash flows from investing activities: | ||||||
Proceeds from sales of investment securities available for sale | ||||||
6,578 | 22,031 | 14,024 | 9,906 | 21,057 | 41,638 | 41,338 |
Principal collections on investment securities available for sale | ||||||
17,898 | 20,133 | 23,907 | 24,782 | 45,166 | - | - |
Purchase of investment securities available for sale | ||||||
30,163 | 46,442 | 39,599 | 23,863 | 111,194 | 135,293 | 111,244 |
Proceeds from maturities or calls of investment securities available for sale | ||||||
24,107 | 4,500 | 6,774 | 15,385 | 13,531 | 57,210 | 52,477 |
Proceeds from redemption of Federal Home Loan Bank stock | ||||||
0 | -2,932 | -437 | -497 | -1,377 | -5,317 | -4,473 |
Purchase of Federal Home Loan Bank stock | ||||||
122 | 2,233 | 510 | 0 | - | - | - |
Net decrease in certificates of deposit held at other financial institutions | ||||||
-6,966 | -10,699 | 0 | 0 | - | - | - |
Purchase of FHLB stock | ||||||
- | - | - | - | 0 | 45 | 0 |
Principal collections on investment securities available for sale | ||||||
- | - | - | - | - | 6,789 | 3,574 |
Net increase in loans receivable | ||||||
25,405 | -24,075 | 105,753 | 25,733 | -4,170 | -40,430 | -59,326 |
Net decrease in FDIC receivable | ||||||
0 | 0 | -5,266 | -15,710 | -7,960 | -70,878 | -45,638 |
Principal reductions of OREO | ||||||
0 | 0 | 58 | 180 | 0 | - | - |
Proceeds from sale of real estate owned | ||||||
3,218 | 3,631 | 7,676 | 14,509 | 21,802 | 20,364 | 31,784 |
Proceeds from sale of premises and equipment | ||||||
259 | 354 | 7 | 547 | 0 | 148 | 412 |
Purchase of bank owned life insurance | ||||||
- | - | - | 6,100 | 5,000 | 0 | 0 |
Proceeds from settlement of bank owned life insurance | ||||||
0 | 646 | 0 | 0 | - | - | - |
Purchases of premises and equipment, net of dispositions | ||||||
1,541 | 1,593 | 413 | 383 | 393 | - | - |
Net cash received (paid) in acquisitions | ||||||
-5,421 | 42,520 | 0 | 0 | - | - | - |
Purchases of premises and equipment | ||||||
- | - | - | - | - | 2,755 | 839 |
Net cash received from acquisitions | ||||||
- | - | - | - | - | 0 | 49,326 |
Net cash provided by (used in) investing activities | ||||||
7,216 | -3,784 | -88,124 | 25,436 | -1,520 | 104,684 | 176,268 |
Cash flows from financing activities: | ||||||
Purchase of treasury stock and conversion expense | ||||||
- | - | - | - | 1,163 | 3,588 | 0 |
First Charter elimination | ||||||
- | - | - | - | -277 | 0 | 0 |
Repurchase of shares | ||||||
1 | 13,171 | 25,505 | 53,238 | 0 | - | - |
Issuance of common stock | ||||||
624 | 126 | 0 | 0 | 135,378 | 0 | 0 |
Dividends paid | ||||||
3,578 | 2,875 | 3,134 | 4,171 | 7,684 | 1,372 | 1,940 |
Net (decrease) increase in deposits | ||||||
39,616 | 89,531 | 21,662 | -34,104 | -48,964 | -110,832 | -156,755 |
Proceeds from Federal Home Loan Bank advances | ||||||
27,000 | 97,000 | 12,000 | 0 | 0 | 1,000 | 0 |
Principal payments on Federal Home Loan Bank advances | ||||||
27,000 | 114,000 | 5,000 | 5,000 | 21,000 | 30,000 | 102,809 |
Principal payments on other borrowings | ||||||
3,250 | 0 | 0 | - | - | - | - |
Net (decrease) increase in advance payments by borrowers for taxes and insurance | ||||||
610 | 418 | 433 | 258 | 402 | 188 | -473 |
Net cash (used in) provided by financing activities | ||||||
34,021 | 57,029 | 456 | -96,257 | 56,691 | -144,603 | -261,979 |
Net increase in cash and cash equivalents | ||||||
60,488 | 61,506 | -69,119 | -61,989 | 52,624 | -40,933 | -85,876 |
Supplemental disclosures of cash flow information: | ||||||
Interest paid | ||||||
6,724 | 5,141 | 4,973 | 5,747 | 7,160 | 10,973 | 16,565 |
Income taxes paid | ||||||
2,822 | 2,547 | 409 | -81 | - | - | - |
Income taxes paid | ||||||
- | - | - | - | 10,060 | 2,529 | 1,678 |
Supplemental disclosure of noncash activities: | ||||||
Real estate acquired through foreclosure of collateral on loans receivable | ||||||
1,354 | 1,757 | 3,237 | 6,527 | 17,311 | 25,180 | 14,830 |
Effect of restricted stock awards | ||||||
- | - | - | - | - | 659 | 391 |
Write down of real estate owned reimbursed by the FDIC | ||||||
0 | 0 | -830 | 1,330 | 6,948 | 7,774 | 0 |
Gain on real estate sold payable to the FDIC | ||||||
0 | 0 | 1,273 | 1,349 | 4,214 | - | - |
Provision for acquired loan losses reimbursed by the FDIC | ||||||
- | - | - | - | 743 | - | - |
Premises and equipment acquired through foreclosure of collateral on loans receivable | ||||||
- | - | - | - | - | 474 | 286 |
Issuance of common stock under stock benefit plan | ||||||
684 | 661 | 561 | 592 | 210 | 158 | 151 |
Interest capitalization into ESOP loan | ||||||
- | - | - | - | -50 | 0 | 0 |
Unrealized loss on investment securities available for sale, net | ||||||
-2,241 | 499 | 1,358 | 1,085 | -2,042 | 2,174 | 1,526 |
Total merger consideration | ||||||
25,775 | 55,906 | 0 | 0 | - | - | - |
Assets acquired at fair value | ||||||
- | - | - | - | - | 0 | 248,978 |
Liabilities assumed at fair value | ||||||
- | - | - | - | - | 0 | 248,304 |
Net assets acquired | ||||||
- | - | - | - | - | 0 | 674 |