| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
55,784 | 39,421 | 16,056 | 31,542 | 24,324 | 10,816 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Provision for loan losses | ||||||
16,985 | 9,430 | 9,556 | 5,591 | 11,127 | 92 | |
Depreciation on premises and equipment | ||||||
6,600 | 6,200 | 5,000 | 5,080 | 5,139 | 3,464 | |
Amortization of intangible assets | ||||||
7,100 | 7,000 | 3,300 | 2,147 | 2,460 | 2,115 | |
Amortization of operating lease right-of-use asset | ||||||
2,937 | - | - | - | - | - | |
FDIC loss-sharing expense | ||||||
- | - | - | -1,661 | -566 | -3,491 | |
Share-based compensation expense | ||||||
2,364 | 1,533 | 1,384 | 492 | 413 | 240 | |
Amortization of restricted stock awards | ||||||
- | - | - | 555 | 517 | 468 | |
Increase in cash surrender value of life insurance | ||||||
3,640 | 3,579 | 2,791 | 2,150 | 1,474 | -1,065 | |
Gain on proceeds from bank-owned life insurance | ||||||
- | 709 | - | 732 | - | - | |
Provision for deferred income taxes | ||||||
12,608 | 10,522 | 12,032 | 14,541 | 6,474 | 4,064 | |
Investment securities amortization, net | ||||||
-3,757 | -3,898 | -1,960 | -1,133 | -1,202 | 857 | |
Gain on sales of other real estate owned | ||||||
185 | 544 | 145 | 113 | 600 | 761 | |
Other-than-temporary impairment on investment securities | ||||||
- | - | - | 824 | 461 | 190 | |
Gain on sales of investment securities, net | ||||||
674 | 464 | 222 | 14,702 | 193 | 77 | |
Impairment of other real estate owned | ||||||
16 | 301 | 244 | 247 | 114 | 1,530 | |
Origination of loans held for sale | ||||||
504,973 | 557,305 | 778,626 | 1,176,716 | 943,844 | 88,444 | |
Proceeds from sales of loans held for sale | ||||||
530,530 | 590,282 | 815,471 | 1,184,739 | 1,002,770 | 88,562 | |
Gain on loans sold and held for sale | ||||||
15,082 | 11,165 | 24,295 | 35,127 | 34,017 | -1,994 | |
Loss on disposals of premises and equipment | ||||||
-32 | -385 | -64 | -97 | - | - | |
Amortization of loan servicing rights | ||||||
2,820 | 2,949 | 5,107 | 6,141 | 5,015 | 421 | |
Impairment of loan servicing rights | ||||||
2,139 | -449 | 2,324 | 3,135 | 448 | -83 | |
(Gain) loss on mortgage servicing rights held for sale | ||||||
490 | -458 | -4,059 | - | - | - | |
Impairment of assets held for sale | ||||||
-3,577 | - | -1,516 | - | - | - | |
Gain on sales of other assets | ||||||
- | - | - | - | - | 3,224 | |
Net change in other operating assets and liabilities: | ||||||
Accrued interest receivable | ||||||
-1,399 | 431 | 1,137 | 505 | -945 | 646 | |
Accrued interest payable | ||||||
1,430 | 1,785 | 1,211 | 66 | -88 | 50 | |
Accrued income taxes receivable | ||||||
-2,454 | 451 | 2,496 | -2,892 | 4,775 | -3,048 | |
Operating lease liabilities | ||||||
-3,241 | - | - | - | - | - | |
Other assets | ||||||
8,470 | 5,712 | -3,673 | 6,399 | 2,722 | 1,797 | |
Other liabilities | ||||||
3,656 | 3,783 | -2,835 | -313 | -945 | 1,391 | |
Net cash provided by operating activities | ||||||
119,406 | 97,060 | 70,449 | 24,126 | 73,317 | 21,498 | |
Investment securities available for sale: | ||||||
Purchases | ||||||
200,231 | 76,289 | 259,098 | 198,680 | 83,668 | 30,405 | |
Sales | ||||||
33,464 | 20,178 | 22,595 | 115,999 | 62,751 | 24,958 | |
Maturities and payments | ||||||
239,760 | 131,220 | 247,929 | 74,948 | 29,989 | 30,594 | |
Investment securities held to maturity: | ||||||
Purchases | ||||||
- | - | 3,155 | 2,617 | 809 | 8,509 | |
Maturities | ||||||
- | - | 16,889 | 11,019 | 14,225 | 15,283 | |
Equity securities: | ||||||
Purchases | ||||||
82 | 59 | - | - | - | - | |
Sales | ||||||
105 | 7,733 | - | - | - | - | |
Net (increase) decrease in loans | ||||||
145,772 | 131,114 | 238,398 | 335,943 | 209,109 | 94,858 | |
Proceeds from sale of consumer loans held for sale | ||||||
59,486 | - | - | - | - | - | |
Purchases of premises and equipment | ||||||
5,538 | 7,200 | 6,182 | 2,179 | 6,115 | 2,920 | |
Proceeds from sales of mortgage servicing rights held for sale | ||||||
3,288 | 12,994 | - | - | - | - | |
Proceeds from settlements of bank-owned life insurance | ||||||
- | 1,449 | - | 1,385 | - | - | |
Purchase of bank-owned life insurance | ||||||
- | - | - | 20,000 | 20,000 | - | |
Purchases of nonmarketable equity securities | ||||||
14,263 | 20,737 | 18,376 | 4,103 | 5,311 | - | |
Sales of nonmarketable equity securities | ||||||
12,684 | 15,099 | 11,233 | 90 | 1,918 | - | |
Proceeds from sale of premises and equipment | ||||||
32 | 33 | 4,286 | 11 | 55 | - | |
Proceeds from sales of other real estate owned | ||||||
1,647 | 3,879 | 6,189 | 6,199 | 6,617 | 10,928 | |
Net cash acquired (paid) in acquisitions | ||||||
-69,879 | -36,153 | 18,519 | 5,191 | 20,053 | -85,021 | |
Net cash (used in) provided by investing activities | ||||||
54,459 | -6,661 | -234,607 | -359,062 | -229,510 | 30,092 | |
Net increase (decrease) in deposits | ||||||
148,344 | -168,049 | -13,144 | 36,718 | 217,015 | 2,674 | |
Net (decrease) increase in short-term borrowings | ||||||
-42,206 | -31,891 | 10,135 | 24,019 | -22,176 | 25,324 | |
Proceeds from FHLB borrowings | ||||||
360,000 | 1,017,080 | 447,357 | 1,015,000 | 47,500 | 112,500 | |
Payments made on FHLB borrowings | ||||||
482,190 | 886,726 | 320,857 | 817,500 | 67,500 | 117,500 | |
Proceeds from other borrowings, net of issuance costs | ||||||
- | - | 39,964 | - | - | 14,000 | |
Payments made on other borrowings | ||||||
32,857 | 4,286 | 3,198 | - | 14,177 | 7,857 | |
Proceeds from issuance of subordinated debt, net of issuance costs | ||||||
98,265 | - | 39,354 | - | 55,325 | - | |
Payments made on subordinated debt | ||||||
17,765 | - | - | 8,000 | - | - | |
Cash dividends paid on preferred stock | ||||||
191 | 330 | 184 | - | - | 4,254 | |
Redemption of Series H preferred stock | ||||||
2,636 | - | - | - | - | - | |
Cash dividends paid on common stock | ||||||
23,599 | 19,977 | 14,008 | 9,853 | 7,692 | 3,512 | |
Common stock repurchased | ||||||
4,019 | - | - | - | - | - | |
Proceeds from issuance of common stock in initial public offering, net of issuance costs | ||||||
- | - | - | 71,475 | - | - | |
Proceeds from issuance of common stock under employee benefit plans | ||||||
5,794 | 2,278 | 3,225 | 1,318 | 470 | 215 | |
Net cash provided by (used in) financing activities | ||||||
6,940 | -91,901 | 188,644 | 313,177 | 208,765 | 21,590 | |
Net increase (decrease) in cash and cash equivalents | ||||||
180,805 | -1,502 | 24,486 | -21,759 | 52,572 | 73,180 | |
Supplemental disclosures of cash flow information: | ||||||
Cash payments for: | ||||||
Interest paid on deposits and borrowed funds | ||||||
58,158 | 40,956 | 21,965 | 15,929 | 12,977 | 8,493 | |
Income tax paid (net of refunds) | ||||||
479 | 580 | 653 | 1,073 | 8,541 | 4,684 | |
Supplemental disclosures of noncash investing and financing activities: | ||||||
Transfer of investment securities held to maturity to investment securities available for sale | ||||||
- | - | 64,520 | - | - | - | |
Transfer of investment securities available for sale to equity securities | ||||||
- | 2,830 | - | - | - | - | |
Transfer of loans to loans held for sale | ||||||
59,486 | - | - | - | - | - | |
Transfer of loans to other real estate owned | ||||||
3,819 | 1,104 | 3,718 | 4,839 | 3,533 | 6,509 | |
Transfer of premises and equipment, net to assets held for sale | ||||||
4,350 | - | 3,988 | - | - | - | |
Lease liabilities arising from obtaining ROU assets | ||||||
887 | - | - | - | - | - | |
Transfer of loan servicing rights, at lower of cost or market to mortgage servicing rights held for sale | ||||||
- | 3,649 | 14,234 | - | - | - | |
Issuance of common stock for preferred dividends | ||||||
- | - | - | - | - | 2,903 | |
Cash portion of merger consideration accrued for at year-end | ||||||
- | - | - | - | - | 20,053 | |