| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net (loss) income | ||||||
14,822 | 34,521 | 28,099 | 28,057 | 16,080 | 8,414 | 4,561 |
Adjustments to reconcile net income to net cash from operating activities | ||||||
Depreciation and amortization on premises and equipment | ||||||
1,800 | 1,713 | 1,482 | - | - | - | - |
Depreciation and amortization on premises and equipment | ||||||
- | - | - | 1,330 | 1,325 | 931 | 653 |
Accretion of purchase accounting adjustments | ||||||
700 | 1,338 | 1,078 | 1,175 | 1,897 | 1,589 | - |
Net amortization of securities | ||||||
-6,876 | -8,083 | -10,129 | -7,673 | -4,961 | -2,596 | -4,199 |
Amortization of loan servicing right asset | ||||||
1,289 | 867 | 934 | 1,201 | 909 | 727 | 1,265 |
Amortization of core deposit intangible | ||||||
504 | 612 | 473 | 563 | 655 | 362 | 0 |
Amortization of debt issuance costs | ||||||
179 | 178 | 178 | 124 | - | - | - |
Decrease in impairment of servicing asset | ||||||
- | - | - | - | - | - | -90 |
Provision for loan losses | ||||||
32,047 | 2,254 | 4,313 | 5,240 | 5,030 | 2,374 | 907 |
Deferred income tax benefit | ||||||
-6,957 | 197 | 3,785 | -964 | -1,058 | -130 | -396 |
Excess tax benefit related to stock compensation | ||||||
86 | 565 | 484 | 1,013 | 533 | - | 83 |
Excess tax benefit related to the exercise of stock options | ||||||
- | - | - | - | - | -29 | -83 |
Origination of loans held for sale | ||||||
655,546 | 278,559 | 357,983 | 371,173 | 301,190 | 262,955 | 307,592 |
Proceeds from sale of loans held for sale | ||||||
631,572 | 285,116 | 378,469 | 367,369 | 312,150 | 266,932 | 315,242 |
Net gain on sale of loans held for sale | ||||||
9,217 | 6,286 | 6,779 | - | - | - | - |
(Gain) Loss on sale of loans held for investment | ||||||
-2,003 | 0 | 226 | - | - | - | - |
Net gain on sale of loans | ||||||
- | - | - | 7,183 | 6,959 | 5,814 | 4,403 |
Gain on sale of available for sale securities | ||||||
2,043 | -4,160 | 896 | 2,172 | 684 | 259 | 88 |
Gain on call of held to maturity securities | ||||||
- | - | - | - | 149 | - | - |
Income from bank owned life insurance | ||||||
1,487 | 1,535 | 818 | 648 | 611 | 288 | 268 |
(Gain) loss on sale of foreclosed assets | ||||||
0 | 81 | -20 | 28 | 16 | -96 | -223 |
Loss on sale of assets held for sale | ||||||
- | - | - | -98 | - | - | - |
Stock-based compensation | ||||||
- | - | - | - | 860 | - | - |
Stock-based compensation | ||||||
5,917 | 6,569 | 2,802 | 1,641 | - | 611 | 364 |
Compensation expense related to common stock issued to 401(k) plan | ||||||
- | - | - | - | 466 | 275 | 227 |
Deferred gain on sale of loans | ||||||
15 | 15 | 58 | 64 | 36 | 50 | 30 |
Deferred gain on sale of foreclosed assets | ||||||
14 | 10 | 14 | 12 | 10 | 5 | - |
Loss on disposal of non-bank subsidiary | ||||||
- | - | - | - | - | -32 | - |
Net change in: | ||||||
Accrued interest receivable and other assets | ||||||
-6,597 | 8,212 | 9,536 | 2,278 | 5,599 | 82 | -249 |
Accrued interest payable and other liabilities | ||||||
-3,730 | 2,638 | 2,826 | 1,610 | 3,584 | -219 | 572 |
Net cash from operating activities | ||||||
23,811 | 50,307 | 55,638 | 28,196 | 27,278 | 11,930 | 15,512 |
Cash flows from investing activities | ||||||
Securities available for sale : | ||||||
Sales and calls | ||||||
582,950 | 176,016 | 240,175 | 93,873 | - | - | - |
Purchases | ||||||
208,661 | 474,163 | 664,894 | 391,036 | 498,977 | 198,452 | 189,962 |
Sales | ||||||
- | - | - | - | 107,300 | 44,181 | 16,290 |
Maturities and prepayments | ||||||
145,203 | 359,859 | 175,457 | 103,307 | 204,147 | 93,339 | 78,650 |
Securities held to maturity : | ||||||
Purchases | ||||||
4,909 | 3,347 | 4,266 | 94,749 | 116,322 | 8,601 | 28,937 |
Maturities, prepayments and calls | ||||||
8,116 | 11,999 | 16,326 | 21,712 | 10,670 | 11,551 | 5,840 |
Net change in loans | ||||||
228,259 | 311,118 | 487,060 | - | - | - | - |
Net change in loans | ||||||
- | - | - | 468,973 | 515,837 | 181,928 | 122,572 |
Proceeds from sale of loans held for investment | ||||||
76,849 | 0 | 0 | - | - | - | - |
Purchase of bank owned life insurance | ||||||
0 | 119 | 25,000 | - | 10,344 | - | - |
Proceeds from sale of buildings held for sale | ||||||
- | - | - | 1,542 | 4,080 | - | - |
Purchase of restricted equity securities | ||||||
2,971 | 2,463 | 6,649 | 3,845 | 2,649 | 745 | 774 |
Proceeds from sale of foreclosed assets | ||||||
0 | 1,934 | 1,330 | 336 | 531 | 1,166 | 2,477 |
Purchases of premises and equipment, net | ||||||
1,569 | 2,551 | 3,212 | 3,241 | 941 | 3,887 | 1,847 |
Decrease in certificates of deposits at other financial institutions | ||||||
4 | -239 | -1,800 | -805 | - | - | 100 |
Net cash provided from sale of non-bank subsidiary | ||||||
- | - | - | - | - | -205 | - |
Net cash acquired from acquisition (See Note 2) | ||||||
0 | 24,660 | 0 | - | - | 12,197 | - |
Capitalization of foreclosed assets | ||||||
0 | 0 | 35 | - | - | - | - |
Net cash from investing activities | ||||||
366,753 | -219,532 | -759,628 | -741,879 | -818,342 | -230,974 | -240,735 |
Cash flows from financing activities | ||||||
(Decrease) increase in deposits | ||||||
-224,223 | 141,417 | 775,410 | 577,779 | 641,867 | 246,629 | 166,657 |
Increase (decrease) in federal funds purchased and repurchase agreements | ||||||
0 | -31,004 | -52,297 | -17,785 | 62,008 | 13,894 | 22,689 |
Proceeds from Federal Home Loan Bank advances | ||||||
525,000 | 450,000 | 380,000 | 325,000 | 157,000 | 15,000 | 40,000 |
Repayment of Federal Home Loan Bank advances | ||||||
738,500 | 365,000 | 240,000 | 250,000 | 119,000 | 25,000 | 25,000 |
Proceeds from other borrowings | ||||||
- | - | - | 10,000 | - | - | - |
Repayment of other borrowings | ||||||
- | - | - | 10,000 | - | - | - |
Proceeds from issuance of subordinated notes, net of issuance costs | ||||||
- | - | - | 58,213 | - | - | - |
Proceeds from exercise of common stock warrants | ||||||
0 | 0 | 150 | 101 | 79 | - | 36 |
Proceeds from exercise of common stock options | ||||||
5,307 | 3,047 | 1,615 | 1,571 | 1,834 | 265 | 58 |
Cash paid in conjunction with stock option exchange | ||||||
- | - | - | - | - | - | 59 |
Proceeds from issuance of common stock, net of offering costs | ||||||
0 | -242 | 0 | 67,557 | 50,423 | -514 | 14,191 |
Divestment of stock issued to 401(k) plan | ||||||
0 | 308 | 256 | 300 | - | - | - |
Purchase of treasury stock | ||||||
717 | 0 | 0 | - | - | - | - |
Redemption of Series A preferred stock | ||||||
- | - | - | 10,000 | - | - | - |
Noncontrolling interest distributions | ||||||
2,636 | 0 | 0 | 23 | 100 | 100 | 109 |
Noncontrolling interest distributions | ||||||
16 | 16 | 16 | - | - | - | - |
Proceeds from issuance of preferred stock of consolidated subsidiary to noncontrolling interest, net of issuance costs | ||||||
- | - | - | 103 | - | - | - |
Net cash from financing activities | ||||||
-435,785 | 197,894 | 864,606 | 752,216 | 794,111 | 250,174 | 218,463 |
Net change in cash and cash equivalents | ||||||
-45,221 | 28,669 | 160,616 | 38,533 | 3,047 | 31,130 | -6,760 |
Supplemental information: | ||||||
Interest paid | ||||||
74,031 | 63,847 | 34,562 | 17,043 | 9,083 | 5,540 | 4,023 |
Income taxes paid | ||||||
9,994 | 10,892 | 15,680 | 14,023 | 9,738 | 5,692 | 2,750 |
Non-cash supplemental information: | ||||||
Fair value of stock and stock options issued related to Civic Bank acquisition (See FN 2) | ||||||
0 | 33,174 | 0 | - | - | - | - |
Transfers from loans to foreclosed assets | ||||||
0 | 350 | 2,818 | 108 | - | 1,273 | 761 |
Transfers from Held to Maturity to Available for Sale | ||||||
116,203 | 83,501 | 0 | - | - | - | - |
Establishment of lease liability and right of use asset | ||||||
43,723 | - | - | - | - | - | - |
Fair value of stock and stock options issued related to MidSouth Bank acquisition | ||||||
- | - | - | - | - | 40,976 | - |
Transfers from premises and equipment to assets held for sale | ||||||
- | - | - | - | 1,640 | 4,080 | - |
Transfer from additional paid-in-capital to common stock | ||||||
- | - | - | - | - | - | 426 |