| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net Income (Loss) Attributable to Parent | |||||||||
16,552 | 53,057 | 41,791 | 38,918 | 37,489 | 21,014 | 9,575 | 13,261 | 6,518 | 13,354 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation of premises and equipment, amortization of securities available for sale, and amortization of discount of junior subordinated debentures | |||||||||
2,234 | 9,808 | 10,704 | 12,709 | 13,967 | 12,882 | 5,411 | 4,290 | 2,185 | 2,050 |
Changes in net deferred loan costs, net of amortization | |||||||||
-276 | 150 | 1,007 | 1,422 | 1,866 | 1,733 | -574 | -236 | -537 | 274 |
Provision for loan losses | |||||||||
920 | 5,129 | 4,220 | 4,931 | 4,372 | 4,594 | 3,672 | 2,016 | 14,430 | 11,990 |
Net change in accrued interest receivable, prepaid expenses and other assets, and accrued expenses and other liabilities | |||||||||
1,345 | 10,195 | 11,634 | 2,147 | -78 | 13,236 | 9,023 | 5,878 | -4,224 | 5,762 |
Stock-based compensation expense | |||||||||
741 | 2,744 | 2,103 | 1,840 | 1,555 | 1,395 | 1,223 | 1,185 | 855 | 508 |
Stock option compensation expense | |||||||||
- | - | - | - | - | 20 | 71 | 106 | 165 | 204 |
Net excess tax benefit from exercise of stock-based compensation | |||||||||
- | - | - | 123 | 140 | 118 | -37 | - | - | - |
Tax benefits and excess tax benefits from restricted stock | |||||||||
- | - | - | - | - | - | - | -93 | -4 | -10 |
Amortization of intangible assets | |||||||||
1,025 | 3,819 | 1,286 | 1,415 | 2,100 | 1,920 | 543 | 427 | 440 | 225 |
Impairment loss on investment securities, net | |||||||||
- | - | - | - | - | 45 | 38 | 78 | 98 | 298 |
Origination of mortgage loans held for sale | |||||||||
8,607 | 76,101 | 108,696 | 145,107 | 132,932 | 57,656 | 6,784 | 21,035 | 18,016 | 18,665 |
Proceeds from sale of mortgage loans held for sale | |||||||||
7,458 | 79,237 | 121,482 | 148,121 | 135,515 | 57,515 | 8,602 | 21,482 | 17,268 | 19,127 |
Earnings on bank owned life insurance | |||||||||
487 | 1,753 | 1,424 | 1,460 | 1,354 | 455 | 70 | 80 | - | - |
Valuation adjustment on other real estate owned | |||||||||
- | -49 | 0 | -383 | -529 | 0 | -371 | -824 | 871 | - |
Loss on sale of other real estate owned, net | |||||||||
0 | 0 | 144 | 173 | -97 | 23 | 264 | 587 | -71 | -121 |
Gain on sale of loans, net | |||||||||
252 | 2,759 | 7,696 | 6,994 | 4,683 | 1,518 | 142 | 295 | 316 | 401 |
Deferred income tax | |||||||||
- | - | - | - | - | - | - | - | - | 4,549 |
Bargain purchase gain on bank acquisition | |||||||||
- | - | - | - | - | - | 399 | 0 | 0 | - |
Gain on FDIC assisted bank acquisitions, net | |||||||||
- | - | - | - | - | - | - | - | - | 11,830 |
Gain on sale of investment securities, net | |||||||||
15 | 137 | 6 | 1,315 | 1,516 | 287 | 0 | 0 | 23 | -44 |
Gain (Loss) of Assets Held for Sale | |||||||||
0 | 798 | 747 | 0 | 0 | - | - | - | - | - |
Impairment of assets held for sale | |||||||||
- | 75 | 0 | - | - | - | - | - | - | - |
Impairment for right of use asset | |||||||||
117 | 0 | 0 | 0 | - | - | - | - | - | - |
Gain on termination of FDIC shared-loss agreements | |||||||||
- | - | - | - | 1,747 | 0 | 0 | - | - | - |
Loss on sale or write-off of premises and equipment, net | |||||||||
-5 | -32 | -13 | 110 | 89 | 505 | 584 | 3 | -8 | 2 |
Net cash provided by operating activities | |||||||||
21,312 | 82,447 | 73,513 | 53,980 | 51,397 | 51,336 | 30,897 | 27,882 | 20,871 | 27,070 |
Bank Owned Life Insurance Death Benefit | |||||||||
0 | - | - | - | - | - | - | - | - | - |
Cash flows from investing activities: | |||||||||
Loans originated, net of principal payments | |||||||||
42,357 | 98,563 | 235,154 | 263,387 | 184,862 | 21,651 | 43,140 | 2,790 | -45,379 | 39,173 |
Maturities of other interest earning deposits | |||||||||
- | - | - | 6,709 | 3,346 | 5,475 | 1,987 | 0 | 10 | - |
Maturities, calls and payments of investment securities available for sale | |||||||||
47,004 | 92,563 | 98,894 | 129,408 | 124,592 | 66,876 | 51,443 | 61,751 | 35,196 | 25,125 |
Maturities, calls and payments of investment securities held to maturity | |||||||||
- | - | - | - | 5,221 | 3,284 | 4,192 | 2,177 | 2,221 | 2,301 |
Purchase of other interest earning deposits | |||||||||
- | - | - | - | - | - | - | 2,232 | 496 | - |
Purchase of investment securities available for sale | |||||||||
57,606 | 342,141 | 149,914 | 267,657 | 290,499 | 344,146 | 43,627 | 63,903 | 53,590 | 13,740 |
Proceeds from sales of investment securities available for sale | |||||||||
10,932 | 156,014 | 31,028 | 140,373 | 116,332 | 156,994 | 0 | 0 | 412 | 1,105 |
Purchase of investment securities held to maturity | |||||||||
- | - | - | - | - | 3,294 | 7,414 | 0 | 271 | 2,296 |
Purchase of premises and equipment | |||||||||
1,030 | 23,265 | 3,063 | 6,722 | 1,821 | 3,940 | 5,205 | 3,859 | 3,127 | 6,914 |
Purchase of other real estate owned | |||||||||
- | - | - | - | 188 | 0 | 0 | - | - | - |
Proceeds from sales of other loans | |||||||||
- | 9,993 | 28,874 | 21,077 | 30,751 | - | - | - | - | - |
Proceeds from sales of other real estate owned | |||||||||
79 | 198 | 930 | 2,486 | 3,555 | 9,914 | 6,003 | 5,255 | 3,257 | 1,948 |
Proceeds from sales of investment securities held to maturity | |||||||||
- | - | - | - | 972 | 0 | 0 | - | - | - |
Proceeds from Sale of Assets Held for Sale | |||||||||
0 | 1,908 | 1,849 | 0 | 0 | - | - | - | - | - |
Proceeds from Sale of Federal Home Loan Bank Stock | |||||||||
2,276 | - | - | - | - | - | - | - | - | - |
Proceeds from redemption of Federal Home Loan Bank stock | |||||||||
- | -26,538 | -30,018 | -23,732 | -8,040 | -617 | -208 | -99 | 0 | - |
Purchases of Federal Home Loan Bank stock | |||||||||
3,577 | 22,524 | 30,801 | 27,148 | 0 | 0 | - | - | - | - |
Proceeds from sales of premises and equipment | |||||||||
0 | 28 | 0 | 659 | 815 | 1,170 | 700 | 0 | 2 | 446 |
Purchase bank owned life insurance | |||||||||
0 | 54 | 4,394 | 8,000 | 25,019 | 0 | 0 | - | - | - |
Proceeds from bank owned life insurance death benefit | |||||||||
- | 0 | 1,101 | 0 | 0 | - | - | - | - | - |
Investment in new market tax credit partnership | |||||||||
- | - | - | - | - | 25,000 | 0 | 0 | - | - |
Capital contributions to low-income housing tax credit partnerships and new market tax credit partnerships, net | |||||||||
-80 | -8,303 | -10,762 | -4,456 | -746 | 0 | 0 | - | - | - |
Net cash used for termination of FDIC shared-loss agreements | |||||||||
- | - | - | - | 7,110 | 0 | 0 | - | - | - |
Net cash received from acquisitions | |||||||||
- | 105,974 | 0 | 0 | - | 32,052 | 18,260 | 0 | 0 | 196,614 |
Net cash used in investing activities | |||||||||
-44,359 | -101,634 | -241,394 | -252,926 | -216,621 | -121,649 | -16,593 | -3,502 | -61,765 | 243,762 |
Cash flows from financing activities: | |||||||||
Net increase (decrease) in deposits | |||||||||
-38,687 | 214,740 | 163,412 | 121,361 | 201,956 | 73,248 | 13,763 | -18,073 | -232 | -229,234 |
Federal Home Loan Bank advances | |||||||||
-76,900 | -554,950 | -763,350 | -660,900 | 0 | 0 | - | - | - | - |
Repayment of Federal Home Loan Bank advances | |||||||||
51,900 | 663,450 | 750,450 | 581,300 | 0 | 0 | - | - | - | - |
Net (decrease) increase in borrowed funds | |||||||||
- | - | - | - | - | - | - | - | - | -17,530 |
Preferred stock cash dividends paid | |||||||||
- | - | - | - | - | - | - | - | - | 1,173 |
Common stock cash dividends paid | |||||||||
6,662 | 25,791 | 18,305 | 21,569 | 15,916 | 12,892 | 6,672 | 12,155 | 5,910 | - |
Net decrease in securities sold under agreement to repurchase | |||||||||
6,564 | 796 | -9,717 | 1,110 | 8,967 | -2,761 | -13,399 | 7,070 | -4,064 | -8,587 |
Proceeds from common stock issuance, net of expenses | |||||||||
- | - | - | - | - | - | - | - | - | 54,086 |
Proceeds from exercise of stock options | |||||||||
22 | 133 | 164 | 540 | 751 | 915 | 200 | 129 | 50 | 202 |
Excess Tax Benefit from Share-based Compensation, Financing Activities | |||||||||
- | - | - | 123 | 140 | 118 | -37 | -93 | -4 | -10 |
Repurchase of common stock | |||||||||
802 | 1,704 | 737 | 2,894 | 7,736 | 2,601 | 8,825 | 6,023 | 2,342 | - |
Repurchase of common stock warrant | |||||||||
- | - | - | - | - | - | - | - | 450 | - |
Repurchase of preferred stock | |||||||||
- | - | - | - | - | - | - | - | - | 24,000 |
Net cash provided by (used in) financing activities | |||||||||
-27,693 | 78,082 | 167,151 | 176,051 | 170,228 | 61,549 | 11,828 | -43,285 | -4,824 | -209,072 |
Net increase (decrease) in cash and cash equivalents | |||||||||
- | 58,895 | -730 | -22,895 | 5,004 | -8,764 | 26,132 | -18,905 | -45,718 | 61,760 |
Supplemental disclosures of cash flow information: | |||||||||
Cash paid for interest | |||||||||
3,801 | 12,385 | 8,399 | 5,998 | 6,324 | 5,422 | 3,678 | 4,608 | 6,724 | 8,455 |
Cash paid for income taxes, net of refunds | |||||||||
0 | 5,634 | 2,045 | 11,500 | 15,286 | 9,786 | 3,574 | 10,713 | 9,998 | 1,494 |
Supplemental non-cash disclosures of cash flow information: | |||||||||
Transfers of loans receivable to other real estate owned | |||||||||
0 | 434 | 32 | 1,431 | 2,657 | 1,566 | 2,974 | 7,406 | - | - |
Transfers of properties held for sale recorded in premises and equipment, net to prepaid expenses and other assets | |||||||||
763 | 1,836 | 2,687 | 0 | 0 | - | - | - | - | - |
Seller-financed sale of other real estate owned | |||||||||
- | - | - | - | - | - | 250 | 732 | 0 | - |
Investment in low income housing tax credit partnership and related funding commitment | |||||||||
- | 0 | 33,171 | 19,663 | 0 | 3,817 | 0 | 0 | - | - |
Transfer of bank owned life insurance to prepaid expenses and other assets | |||||||||
- | 421 | 0 | 0 | - | - | - | - | - | - |
Business Combinations: | |||||||||
Common stock issued in business combinations | |||||||||
- | 230,043 | 0 | 0 | - | 226,235 | 24,195 | 0 | - | - |
Stock issuance costs in connection with business combination | |||||||||
- | - | - | - | - | 489 | 0 | 0 | - | - |
Transfer from investment securities held to maturity to available for sale | |||||||||
- | - | - | - | 29,370 | 0 | 0 | - | - | - |
Receivable due from bank owned life insurance contract | |||||||||
- | - | - | - | 445 | 0 | 0 | - | - | - |
Assets acquired (liabilities assumed) in acquisitions: | |||||||||
Loans transferred to other real estate owned | |||||||||
- | - | - | - | - | - | - | - | 5,653 | -3,693 |
Stock issued for acquisition | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Other interest earning deposits | |||||||||
- | - | - | - | - | - | 14,869 | 0 | 0 | - |
Investment securities available for sale | |||||||||
- | 84,846 | 0 | 0 | - | 458,312 | 34,197 | 0 | 0 | - |
Investment securities held to maturity | |||||||||
- | - | - | - | - | - | 22,908 | 0 | 0 | - |
Loans held for sale | |||||||||
- | - | - | - | - | 3,923 | 0 | 0 | - | - |
Loans receivable | |||||||||
- | 718,620 | 0 | 0 | - | 895,978 | 168,580 | 0 | 0 | - |
Investment securities | |||||||||
- | - | - | - | - | - | - | - | - | 47,397 |
Loans receivable, covered at merger date | |||||||||
- | - | - | - | - | 107,050 | 0 | 0 | - | 142,974 |
Other real estate owned | |||||||||
- | 1,796 | 0 | 0 | - | 7,121 | 2,279 | 0 | 0 | 702 |
Premises and equipment | |||||||||
- | 3,785 | 0 | 0 | - | 31,776 | 6,772 | 0 | 0 | - |
Loans not covered by loss sharing | |||||||||
- | - | - | - | - | - | - | - | - | 145,246 |
Federal Home Loan Bank stock | |||||||||
- | 1,743 | 0 | 0 | - | 7,064 | 454 | 0 | 0 | 2,264 |
FDIC indemnification asset | |||||||||
- | - | - | - | - | 7,174 | 0 | 0 | - | 16,084 |
Accrued interest receivable | |||||||||
- | 2,454 | 0 | 0 | - | 4,943 | 697 | 0 | 0 | 1,133 |
Bank owned life insurance | |||||||||
- | 17,116 | 0 | 0 | - | 32,519 | 0 | 0 | - | - |
Prepaid expenses and other assets | |||||||||
- | 2,957 | 0 | 0 | - | 14,852 | 7,135 | 0 | 0 | 1,219 |
Other intangible assets | |||||||||
- | 18,345 | 0 | 0 | - | 11,194 | 1,072 | 0 | 0 | 1,832 |
Goodwill | |||||||||
- | 121,910 | 0 | 0 | - | - | - | - | - | - |
Deposits | |||||||||
- | 824,602 | 0 | 0 | - | 1,433,894 | 267,455 | 0 | 0 | -525,382 |
Federal Home Loan Bank advances | |||||||||
- | 16,000 | 0 | 0 | - | 18,937 | 0 | 0 | - | - |
Securities sold under agreement to repurchase | |||||||||
- | 462 | 0 | 0 | - | - | - | - | - | - |
Borrowings | |||||||||
- | - | - | - | - | - | - | - | - | -17,530 |
Deferred tax liability | |||||||||
- | - | - | - | - | - | - | - | - | -4,140 |
Accrued expenses and other liabilities | |||||||||
- | 8,439 | 0 | 0 | - | 24,067 | 1,528 | 0 | 0 | -724 |
Purchase of investment securities available for sale not settled | |||||||||
0 | - | - | - | 1,288 | 1,288 | 0 | 0 | - | - |