| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
48,861 | 45,060 | 69,384 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
2,618 | 2,813 | 2,903 | ||||
Provision for loan losses | ||||||
1,250 | 3,600 | -3,372 | ||||
Amortization of deferred loan costs, net | ||||||
-14,556 | -10,218 | -9,285 | ||||
Amortization of premiums on investment securities, net | ||||||
-1,582 | -1,870 | -2,800 | ||||
Loss on disposition of leasehold improvements | ||||||
-1,120 | 0 | - | ||||
Gain on sale of loans | ||||||
607 | 140 | 3,277 | ||||
Originations of loans held for sale | ||||||
- | - | 25,809 | ||||
Proceeds from sale of loans held for sale | ||||||
- | - | 33,618 | ||||
Stock based compensation expense, net of forfeitures | ||||||
2,993 | 4,355 | 586 | ||||
Provision (benefit) for deferred income tax | ||||||
1,059 | -1,868 | -6,584 | ||||
Change in fair value of mortgage servicing rights | ||||||
961 | 931 | -30 | ||||
Change in fair value of equity securities | ||||||
344 | 0 | - | ||||
Other items, net | ||||||
-122 | -86 | 0 | ||||
Effect of changes in: | ||||||
Accrued interest receivable | ||||||
594 | 5,319 | 2,760 | ||||
Accrued interest payable | ||||||
-1,406 | 2,526 | 479 | ||||
Prepaid expenses and other assets | ||||||
2,876 | 272 | 5,356 | ||||
Other liabilities and accrued expenses | ||||||
5,712 | -4,900 | 6,547 | ||||
Net cash provided by operating activities | ||||||
75,007 | 58,960 | 78,414 | ||||
Cash flows from investing activities: | ||||||
Proceeds from maturities and paydowns of available for sale debt securities | ||||||
88,454 | 77,785 | 113,842 | ||||
Proceeds from maturities and paydowns of held to maturity debt securities | ||||||
1,629 | 415 | 626 | ||||
Purchases of available for sale debt securities | ||||||
99,102 | 196,648 | 162,830 | ||||
Net increase in loans receivable | ||||||
- | - | 1,236,187 | ||||
Proceeds from loans held for sale previously classified as portfolio loans | ||||||
68,809 | 19,604 | 655,754 | ||||
Purchases of held to maturity debt securities | ||||||
0 | 5,375 | 0 | ||||
Proceeds from sales of available for sale debt securities | ||||||
1,000 | 0 | - | ||||
Purchase of loans | ||||||
172,725 | 1,118,502 | - | ||||
Purchase of loan | ||||||
10,052 | 0 | - | ||||
Redemption (purchase) of FHLB stock, net | ||||||
-1,481 | 4,090 | -2,677 | ||||
Purchase of premises and equipment | ||||||
2,261 | 1,477 | 1,056 | ||||
Net cash provided by (used in) investing activities | ||||||
-122,767 | -1,228,288 | -627,174 | ||||
Cash flows from financing activities: | ||||||
Net increase in customer deposits | ||||||
233,677 | 1,049,802 | 617,269 | ||||
Proceeds from long-term FHLB advances | ||||||
375,100 | 575,000 | 100,000 | ||||
Repayment of long-term FHLB advances | ||||||
375,030 | 175,528 | 0 | ||||
Net change in short-term FHLB advances | ||||||
-164,500 | -245,600 | -222,626 | ||||
Net proceeds from issuance of common stock | ||||||
- | - | 138,287 | ||||
Shares withheld for taxes on vested restricted stock | ||||||
2,796 | 769 | 0 | ||||
Shares repurchased | ||||||
8,791 | 1,495 | 0 | ||||
Cash paid for dividends | ||||||
13,000 | 16,000 | 67,800 | ||||
Net cash provided by financing activities | ||||||
44,628 | 1,185,447 | 565,130 | ||||
Cash and Cash Equivalents, Period Increase (Decrease) | ||||||
-3,132 | 16,119 | 16,370 | ||||
Supplemental disclosure of cash flow information: Cash paid during the period for: | ||||||
Interest | ||||||
140,141 | 98,444 | 62,863 | ||||
Income taxes | ||||||
18,032 | 21,565 | 1,845 | ||||
Non-cash investing activity: | ||||||
Loans transferred to held for investment | ||||||
- | - | 38,342 | ||||
Loans transferred to held for sale | ||||||
68,325 | 19,603 | 630,103 | ||||
Conversion of cash-settled to stock-settled compensation | ||||||
- | - | 6,379 | ||||