| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||
Net income | ||||||||||
289,539 | 300,403 | 135,083 | 177,146 | 138,199 | 113,063 | 66,520 | 63,022 | 54,741 | 17,591 | 26,806 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||
Depreciation & amortization | ||||||||||
19,427 | 19,205 | 16,716 | 14,548 | 10,296 | 10,116 | 7,225 | 5,990 | 5,681 | 5,387 | 5,082 |
Amortization of securities, net | ||||||||||
15,943 | 14,205 | 12,917 | 11,591 | 21,783 | 35,648 | -1,214 | 6,696 | 1,506 | -733 | 3,081 |
Accretion of purchased loans | ||||||||||
35,890 | 41,455 | 35,716 | 42,343 | - | - | - | - | - | - | - |
Share-based compensation | ||||||||||
10,719 | 9,084 | 6,705 | 6,628 | 3,925 | 2,073 | 1,298 | 917 | 382 | 376 | -81 |
Tax benefits from stock options exercised | ||||||||||
- | - | - | 4,154 | 605 | 1,225 | 836 | 1,377 | 562 | 964 | 439 |
Gain on assets | ||||||||||
1,942 | 3,302 | 4,223 | -1,978 | 6 | 2,696 | 2,620 | 121 | -1,145 | -4,421 | -23 |
Gain on acquisitions | ||||||||||
- | - | 3,807 | - | 1,635 | - | - | 5,205 | - | 34,484 | - |
Provision for loan losses | ||||||||||
1,325 | 4,322 | 44,250 | 18,608 | 25,164 | 22,664 | 5,180 | 2,750 | 3,500 | 72,850 | 11,150 |
Deferred income tax effect | ||||||||||
28,974 | 3,289 | 34,084 | 12,705 | 7,168 | 18,698 | 24,160 | -434 | -9,237 | 386 | -802 |
Increase in cash value of life insurance | ||||||||||
2,752 | 2,856 | 1,989 | 1,412 | 1,199 | 1,210 | 836 | 873 | 1,128 | 1,383 | 1,981 |
Originations of mortgage loans held for sale | ||||||||||
469,451 | 347,410 | 333,558 | 354,481 | 280,858 | 228,119 | 228,382 | 182,763 | 116,873 | 156,159 | 177,586 |
Proceeds from sales of mortgage loans held for sale | ||||||||||
424,540 | 327,488 | 345,501 | 337,128 | 272,107 | 225,499 | 210,184 | 171,067 | 120,565 | 136,288 | 179,190 |
Changes in assets and liabilities: | ||||||||||
Accrued interest receivable | ||||||||||
-3,859 | 2,413 | 6,451 | 1,706 | 3,615 | -153 | -3,816 | 754 | -625 | -2,617 | 22 |
Other assets | ||||||||||
27,087 | 736 | 38,408 | 11,520 | 10,312 | -28,073 | -64,647 | -68,295 | -37,039 | -18,375 | 15,330 |
Accrued interest payable and other liabilities | ||||||||||
-9,789 | 24,078 | -31,033 | 10,985 | 24,651 | 22,658 | -36,105 | -9,531 | -4,708 | -8,177 | 5,862 |
Net cash provided by operating activities | ||||||||||
247,415 | 303,902 | 140,071 | 175,701 | 205,063 | 245,395 | 113,037 | 117,679 | 92,676 | 56,391 | 34,953 |
Investing Activities | ||||||||||
Net increase in federal funds sold | ||||||||||
325 | 23,784 | -21,044 | - | -1,300 | 4,419 | 17,473 | -5,027 | 26,748 | 14,907 | -3,895 |
Net (increase) decrease in loans, excluding purchased loans | ||||||||||
-245,366 | 329,001 | 137,219 | 722,322 | 874,092 | 245,656 | 56,242 | -66,493 | -168,532 | -62,951 | 24,410 |
Purchases of investment securities – available-for-sale | ||||||||||
609,510 | 500,713 | 692,482 | 253,458 | 382,631 | 75,456 | 364,055 | 427,667 | 408,251 | 199,918 | 107,170 |
Proceeds from maturities of investment securities – available-for-sale | ||||||||||
528,159 | 348,032 | 184,280 | 284,392 | 290,506 | 253,551 | 226,208 | 384,505 | 214,258 | 131,968 | 109,879 |
Proceeds from sale of investment securities – available-for-sale | ||||||||||
1,472 | - | 32,732 | 87,157 | 4,034 | 0 | 282,451 | 1,623 | 1,116 | 21,504 | 35,740 |
Proceeds from sale of equity securities | ||||||||||
- | 3,800 | - | - | - | - | - | - | - | - | - |
Purchases of investment securities – held-to-maturity | ||||||||||
- | - | 281 | 25,933 | 6,563 | 265,704 | 19,052 | - | - | - | - |
Proceeds from maturities of investment securities – held-to-maturity | ||||||||||
- | 31,360 | 58,162 | 49,231 | 52,127 | 22,474 | - | - | - | - | - |
Proceeds from qualified sale of investment securities – held-to-maturity | ||||||||||
- | - | 491 | - | - | - | - | - | - | - | - |
Purchases of other investments | ||||||||||
-34,709 | 1,683 | -1,123 | - | - | - | - | - | - | - | - |
Proceeds from qualified sale of investment securities - held-to-maturity | ||||||||||
- | - | 491 | - | - | - | - | - | - | - | - |
Proceeds from foreclosed assets held for sale | ||||||||||
14,190 | 19,249 | 18,734 | 13,978 | 20,928 | 46,029 | 59,607 | 38,806 | 25,576 | 20,995 | 9,590 |
Proceeds from sale of SBA loans | ||||||||||
21,843 | 9,443 | 13,630 | 17,910 | 8,256 | 1,488 | 2,085 | 6,250 | 4,524 | 268 | 882 |
Proceeds from sale of insurance book of business | ||||||||||
- | - | - | - | 2,938 | - | - | - | - | - | - |
Sale of mortgage servicing portfolio | ||||||||||
- | - | - | - | - | - | - | - | - | 225 | - |
Purchases of premises and equipment, net | ||||||||||
14,898 | 7,950 | 5,191 | 3,082 | 10,536 | 67 | 12,715 | 13,518 | 13,022 | 16,223 | 2,311 |
Return of investment on cash value of life insurance | ||||||||||
- | 1,544 | 592 | 57 | 27 | - | 540 | - | 700 | 1,585 | - |
Net cash paid – market acquisitions | ||||||||||
- | 377,411 | -227,842 | - | -144,097 | -11,720 | 52,134 | 205,190 | - | - | - |
Cash paid on FDIC loss share buy-out | ||||||||||
- | - | - | 6,613 | - | - | - | - | - | - | - |
Acquisition of Centennial Bancshares, Inc., net funds received | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,100 |
Net cash proceeds received - FDIC-assisted acquisitions | ||||||||||
- | - | - | - | - | - | - | 105,645 | - | 281,509 | - |
Net cash (used in) provided by investing activities | ||||||||||
221,656 | -779,578 | -318,631 | -558,683 | -752,209 | -247,202 | 84,166 | 362,300 | 20,181 | 319,771 | 15,205 |
Financing Activities | ||||||||||
Net increase in deposits | ||||||||||
378,605 | 511,276 | 476,623 | 503,918 | 74,992 | -370,656 | -222,907 | -364,810 | -103,767 | -147,422 | -12,485 |
Net (decrease) increase in securities sold under agreements to repurchase | ||||||||||
48 | -4,110 | 336 | -7,099 | -48,076 | 15,481 | 11,330 | -421 | -12,140 | 12,459 | -51,389 |
Net decrease in federal funds purchased | ||||||||||
-5,000 | - | - | - | - | - | - | - | - | - | 0 |
Net decrease in FHLB and other borrowed funds | ||||||||||
850,954 | -173,205 | 95,375 | 100,747 | -702,186 | -325,653 | 10,666 | -25,668 | 34,493 | 117,765 | 18,615 |
Retirement of subordinated debentures | ||||||||||
- | - | - | - | - | - | 25,000 | 15,000 | - | 3,252 | - |
Proceeds from issuance of preferred stock and common stock warrant | ||||||||||
- | - | - | - | - | - | - | - | - | - | 50,000 |
Repurchase of preferred stock and common stock warrant | ||||||||||
- | - | - | - | - | - | - | - | 51,300 | - | - |
Proceeds from exercise of stock options | ||||||||||
1,407 | 1,454 | 1,082 | 1,495 | 389 | 574 | 431 | 1,958 | 715 | 1,555 | 1,391 |
Proceeds from issuance of subordinated debentures | ||||||||||
- | - | 297,201 | - | - | - | - | - | - | - | - |
Proceeds from issuance of common stock | ||||||||||
- | - | - | - | - | - | - | - | - | - | 107,341 |
Repurchase of common stock | ||||||||||
84,888 | 104,276 | 20,825 | 9,817 | 2,015 | - | - | 13,549 | 6,768 | - | - |
Disgorgement of profits | ||||||||||
- | - | - | - | - | 25 | - | - | - | 11 | - |
Common stock issuance costs – market acquisitions | ||||||||||
- | - | 825 | - | 60 | 331 | 577 | - | - | - | - |
Tax benefits from stock options exercised | ||||||||||
- | - | - | 4,154 | 605 | 1,225 | 836 | 1,377 | 562 | 964 | 439 |
Dividends paid on preferred stock | ||||||||||
- | - | - | - | - | - | - | - | 1,286 | 2,500 | 2,395 |
Dividends paid on common stock | ||||||||||
85,627 | 79,867 | 60,373 | 48,096 | 37,580 | 23,170 | 16,971 | 16,315 | 7,608 | 6,170 | 5,123 |
Net cash provided by (used in) financing activities | ||||||||||
-636,409 | 497,682 | 597,844 | 343,808 | 690,441 | -51,199 | -263,524 | -432,428 | -216,085 | -262,120 | 69,164 |
Net change in cash and cash equivalents | ||||||||||
-167,338 | 22,006 | 419,284 | -39,174 | 143,295 | -53,006 | -66,321 | 47,551 | -103,228 | 114,042 | 119,322 |