| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||
Net Income | |||||||||
26,991 | 12,003 | 7,575 | 12,912 | 6,816 | 2,079 | 4,020 | 4,168 | 2,702 | 2,237 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | |||||||||
Net amortization and accretion of investments | |||||||||
1,258 | 1,293 | 1,166 | 1,001 | 765 | 820 | 1,041 | 1,240 | - | - |
Net amortization of deferred loan costs | |||||||||
-448 | -324 | 26 | 55 | 203 | 405 | 168 | -63 | - | - |
Provision for loan losses | |||||||||
1,789 | 2,440 | 2,173 | 3,632 | 2,493 | 2,582 | 2,260 | 2,800 | 1,723 | 1,100 |
Depreciation and amortization | |||||||||
3,260 | 2,938 | 2,691 | 3,407 | 2,908 | 1,245 | 936 | - | - | - |
Depreciation and amortization | |||||||||
- | - | - | - | - | - | - | 533 | 466 | 447 |
Stock based compensation | |||||||||
1,759 | 1,267 | 813 | 568 | 413 | 321 | 196 | 138 | 117 | 46 |
Loans originated for sale | |||||||||
1,604,825 | 1,214,078 | 1,367,531 | 1,643,450 | 1,341,965 | 843,233 | 1,023,418 | 160,367 | - | - |
Loans originated for sale | |||||||||
- | - | - | - | - | - | - | - | 62,647 | -46,657 |
Proceeds of loans sold | |||||||||
1,600,000 | 1,200,000 | 1,400,000 | 1,691,572 | 1,338,341 | 881,323 | 1,039,688 | 146,068 | 58,236 | 46,582 |
Mortgage fee income | |||||||||
41,045 | 32,337 | 37,149 | 35,700 | 29,472 | 17,557 | 20,801 | - | - | - |
Gain on sale of loans held for sale | |||||||||
- | - | - | - | - | - | - | 3,850 | -897 | - |
Proceeds from sale of other real estate owned | |||||||||
- | - | - | - | - | - | - | - | - | 866 |
Loss on sale of other real estate owned | |||||||||
- | - | - | - | - | - | - | - | 73 | -61 |
Gain on sale of available-for-sale securities | |||||||||
105 | 352 | 1,103 | 1,084 | 130 | 553 | 145 | 638 | -833 | -88 |
Loss on sale of available-for-sale securities | |||||||||
-271 | -25 | -372 | -2 | - | - | - | - | - | - |
Loss on sale of equity securities | |||||||||
7 | 0 | 0 | - | - | - | - | - | - | - |
Holding gain on equity securities | |||||||||
13,767 | 590 | 0 | 0 | - | - | - | - | - | - |
Loss on sale of securities | |||||||||
- | - | - | - | 0 | -140 | - | - | - | - |
Gain on sale of portfolio loans | |||||||||
520 | 198 | 538 | 1,042 | 1,413 | 702 | - | - | - | - |
Gain on sale of subsidiary | |||||||||
- | - | - | 6,926 | 0 | 0 | 626 | - | - | - |
Income on bank owned life insurance | |||||||||
1,197 | 1,182 | 646 | 638 | 653 | 588 | 460 | 343 | - | - |
Deferred taxes | |||||||||
-3,953 | 139 | 1,349 | 707 | -395 | -1,082 | 494 | -144 | 147 | -144 |
Amortization of operating lease right-of-use asset | |||||||||
10 | - | - | - | - | - | - | - | - | - |
Other, net | |||||||||
10,564 | -1,752 | -4,137 | 221 | -812 | -779 | -2,199 | -477 | - | - |
Loans purchased | |||||||||
- | - | - | - | - | - | 76,052 | - | - | - |
(Gain) on derivatives | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Changes in other assets | |||||||||
- | - | - | - | - | - | - | - | -1,489 | -409 |
Changes in other liabilities | |||||||||
- | - | - | - | - | - | - | - | 775 | 573 |
Net cash (used in) provided by operating activities | |||||||||
-8,062 | 6,694 | 33,121 | - | - | - | - | - | -741 | 5,005 |
Amortization, net of accretion | |||||||||
- | - | - | - | - | - | - | - | 886 | 513 |
Net cash provided by operating activities | |||||||||
- | - | - | 25,264 | -22,901 | 24,421 | 1,154 | -10,935 | - | - |
INVESTING ACTIVITIES | |||||||||
Purchases of investment securities available-for-sale | |||||||||
70,984 | 31,068 | 139,127 | 114,612 | 39,552 | 29,573 | 56,995 | 61,207 | 249,771 | 69,602 |
Purchases of investment securities held-to-maturity | |||||||||
- | - | - | - | 700 | 250 | 21,600 | 22,046 | 7,361 | 1,359 |
Maturities/paydowns of investment securities available-for-sale | |||||||||
33,583 | 25,748 | 19,011 | 17,790 | 24,412 | 8,230 | 11,269 | - | - | - |
Maturities/paydowns of investment securities held-to-maturity | |||||||||
- | - | - | 400 | 1,580 | 2,000 | - | 115 | 1,225 | 474 |
Sales of investment securities available-for-sale | |||||||||
31,200 | 2,700 | 53,200 | 55,191 | - | - | - | - | - | - |
Maturities/paydowns of investment securities available-for-sale | |||||||||
- | - | - | - | - | - | - | 31,624 | 212,300 | 45,082 |
Sales of investment securities available-for-sale | |||||||||
- | - | - | - | 12,912 | 61,299 | 15,237 | 48,617 | - | - |
Sales of investment securities held-to-maturity | |||||||||
- | - | - | - | 421 | 0 | 0 | - | - | - |
Purchases of premises & equipment, including premises & equipment included in assets of branches held for sale | |||||||||
2,042 | 2,693 | 4,496 | 1,668 | 2,153 | 9,798 | 6,501 | 3,859 | 669 | 269 |
Disposals of premises and equipment | |||||||||
0 | 0 | 307 | 0 | 0 | 0 | - | - | - | - |
Disposals of premises and equipment from sale of subsidiary | |||||||||
- | - | - | 581 | 0 | - | - | - | - | - |
Net increase in loans and loans included in assets of branches held for sale | |||||||||
113,076 | 199,282 | 53,960 | 22,245 | 215,173 | 176,989 | 101,853 | 74,610 | - | - |
Gain on sale of portfolio loans | |||||||||
- | - | - | - | - | - | - | - | 80,934 | 62,060 |
Purchases of restricted bank stock | |||||||||
49,600 | 29,370 | 20,712 | 23,933 | 24,344 | 13,975 | 12,226 | 2,447 | - | - |
Redemptions of restricted bank stock | |||||||||
45,853 | 25,681 | 18,980 | 26,684 | 20,972 | 15,024 | 8,757 | 1,622 | - | - |
Decrease (increase) in deposits with FHLB and Fed, net | |||||||||
- | - | - | - | - | - | - | - | -9,813 | - |
Purchases of certificates of deposit in other banks | |||||||||
- | - | - | - | - | - | - | - | 9,918 | - |
Decrease/(increase) in deposits with FHLB and Fed, net | |||||||||
- | - | - | - | - | - | - | - | - | -6,156 |
Purchases of certificates of deposit in other banks | |||||||||
- | - | - | - | - | - | - | - | - | 16,321 |
Proceeds from sale of certificates of deposit with banks | |||||||||
2,229 | 0 | 1,978 | 6,717 | 248 | 1,234 | - | 491 | 17,734 | 48,029 |
Purchases of certificates of deposit with banks | |||||||||
0 | 0 | 2,229 | 8,094 | 1,491 | 3,714 | - | - | - | - |
Proceeds from sale of other real estate owned | |||||||||
731 | 707 | 0 | 159 | 1,132 | 76 | 278 | 215 | 373 | - |
Purchase of bank owned life insurance | |||||||||
574 | 1,149 | 9,050 | 0 | - | - | - | 2,105 | 2,100 | 0 |
Proceeds from death benefit of bank owned life insurance policies | |||||||||
688 | 706 | 0 | 0 | - | - | - | - | - | - |
Purchase of equity securities | |||||||||
1,400 | 2,000 | 0 | 0 | - | - | - | - | - | - |
Branch acquisition, net cash acquired | |||||||||
- | - | - | - | 48,292 | 0 | - | - | - | - |
Proceeds from death benefit of bank owned life insurance policies | |||||||||
- | - | - | - | 0 | 5,000 | 5,078 | - | - | - |
Sales of equity securities | |||||||||
5,968 | 0 | 0 | - | - | - | - | - | - | - |
Net cash used in business combination | |||||||||
2,651 | 0 | 0 | - | - | - | - | 15,646 | 0 | - |
Proceeds from sale of subsidiary | |||||||||
- | - | - | 7,047 | 0 | 0 | 725 | - | - | - |
Net cash provided by (used in) investing activities | |||||||||
-120,055 | -209,977 | -136,100 | - | - | - | - | - | -109,308 | -62,182 |
Net cash used in investing activities | |||||||||
- | - | - | -55,983 | -173,444 | -151,436 | -244,039 | -99,236 | - | - |
FINANCING ACTIVITIES | |||||||||
Net increase in deposits and deposits in branches held for sale | |||||||||
144,158 | 149,574 | 52,563 | 94,703 | 120,390 | 127,416 | 209,292 | 95,974 | 90,111 | 35,903 |
Net decrease in repurchase agreements | |||||||||
-4,753 | -7,478 | -2,757 | -2,277 | -5,236 | -48,905 | 11,344 | -7,601 | 30,212 | 11,982 |
Net change in FHLB & other borrowings | |||||||||
-63,532 | 74,999 | 49,663 | -92,184 | 84,088 | -2,199 | 15,945 | - | - | - |
Proceeds from stock offering, net of issuance costs | |||||||||
0 | 0 | 4,931 | 20,519 | 0 | 5,588 | 23,109 | 13,734 | 6,500 | 1,729 |
Preferred stock redemption | |||||||||
500 | 0 | 8,500 | 0 | 0 | - | - | - | - | - |
Preferred stock issuance | |||||||||
- | - | - | - | - | 7,834 | - | - | 8,463 | 0 |
Common stock options exercised | |||||||||
2,164 | 2,129 | -10 | 32 | -448 | 63 | 323 | - | - | 183 |
Principal payments on FHLB borrowings | |||||||||
1,670 | 62,281 | 15,097 | 93 | 2,177 | 1,160 | 2,916 | 232 | 98,951 | 196,300 |
Proceeds from new FHLB borrowings | |||||||||
73,200 | 50,000 | 26,682 | 0 | 0 | - | - | 23,065 | 80,104 | 205,716 |
Subordinated debt redemption | |||||||||
12,400 | 0 | 0 | - | - | - | - | - | - | - |
Subordinated debt conversion costs | |||||||||
0 | 35 | 0 | 0 | - | - | - | - | - | - |
Proceeds from subordinated debt | |||||||||
- | - | - | - | - | 29,400 | - | - | - | - |
Common stock repurchased | |||||||||
- | - | - | - | - | - | - | - | 78 | 484 |
Dividend reinvestment plan proceeds | |||||||||
- | - | - | - | - | 180 | 913 | 973 | 0 | - |
Cash dividends paid on common stock | |||||||||
2,290 | 1,220 | 1,033 | 646 | 641 | 636 | 537 | 307 | 218 | 160 |
Cash dividends paid on preferred stock | |||||||||
479 | 489 | 498 | 1,128 | 575 | 332 | 85 | 136 | 44 | - |
Net cash provided by financing activities | |||||||||
- | - | - | 18,926 | 195,401 | 117,249 | 257,388 | 125,470 | - | - |
Net cash provided by financing activities | |||||||||
133,898 | 205,199 | 105,944 | - | - | - | - | - | 116,099 | 58,569 |
Increase (decrease) in cash and cash equivalents | |||||||||
5,781 | 1,916 | 2,965 | - | - | - | - | - | - | - |
Business combination non-cash disclosures: | |||||||||
Assets acquired in business combinations (net of cash received) | |||||||||
3,389 | 0 | 0 | - | - | - | - | - | - | - |
Liabilities assumed in business combination | |||||||||
855 | 0 | 0 | - | - | - | - | - | - | - |
Increase (decrease) in cash and cash equivalents | |||||||||
- | - | - | -11,793 | -944 | -9,766 | 14,503 | 15,299 | 6,050 | 1,392 |
Supplemental disclosure of cash flow information: | |||||||||
Loans transferred to other real estate owned | |||||||||
115 | 1,369 | 1,164 | 332 | 174 | 346 | 472 | 284 | 284 | - |
Restricted stock units vested | |||||||||
10 | 1 | 0 | 0 | - | - | - | - | - | - |
Common stock converted from subordinated debt | |||||||||
1,000 | 15,965 | 0 | 0 | - | - | - | - | - | - |
Initial recognition of operating lease right-of-use assets | |||||||||
12,935 | - | - | - | - | - | - | - | - | - |
Initial recognition of operating lease liabilities | |||||||||
15,659 | - | - | - | - | - | - | - | - | - |
Cashless stock options exercised | |||||||||
57 | 161 | 4 | 16 | 1,180 | 0 | - | - | - | - |
Cash payments for: | |||||||||
Interest on deposits, repurchase agreements and borrowings | |||||||||
22,970 | 17,277 | 12,399 | 10,890 | - | - | - | - | - | - |
Income taxes | |||||||||
3,962 | 191 | 6,026 | 6,922 | - | - | - | - | - | - |
Interest on deposits, repurchase agreements and borrowings | |||||||||
- | - | - | - | 11,124 | 8,953 | 5,551 | 4,922 | 4,958 | 5,623 |
Income taxes | |||||||||
- | - | - | - | 2,400 | 1,729 | 863 | 1,184 | 1,101 | 811 |
Issuance of stock in acquisition | |||||||||
- | - | - | - | - | - | - | 2,000 | 0 | - |