| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||
Net income | ||||||||||||
753 | 12,827 | 14,617 | 12,283 | 14,155 | 13,178 | 12,318 | 12,702 | 13,407 | 5,772 | -2,173 | 3,823 | 7,247 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Provision for credit losses | ||||||||||||
18,500 | 2,409 | 4,201 | 1,990 | 1,000 | 1,709 | 504 | 311 | -1,524 | 206 | 3,327 | 1,953 | 2,814 |
Depreciation and amortization | ||||||||||||
1,735 | 1,717 | 1,695 | 1,697 | 1,597 | 1,553 | 1,618 | 1,356 | 1,342 | 1,811 | 1,044 | 1,482 | 1,515 |
Net amortization on securities | ||||||||||||
-552 | -574 | -296 | -73 | -32 | -59 | -349 | -377 | -353 | 21 | -759 | -318 | -360 |
Amortization of investments in tax credit funds | ||||||||||||
368 | 403 | 395 | 405 | 405 | 482 | 442 | 487 | 488 | 1,142 | 456 | 515 | 516 |
Net realized gain on securities sold | ||||||||||||
54 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Deferred income tax (benefit) | ||||||||||||
-4,122 | -1,236 | -374 | -640 | -346 | 954 | 1,520 | 2,630 | 533 | -1,014 | 1,897 | 4,011 | 37 |
Stock-based compensation expense | ||||||||||||
537 | 600 | 613 | 564 | 470 | 634 | 411 | 223 | 194 | 392 | 266 | 275 | 217 |
Originations of mortgage loans held for sale | ||||||||||||
97,987 | 112,741 | 116,427 | 77,822 | 46,100 | 66,864 | 76,583 | 81,708 | 74,938 | 119,864 | 132,751 | 144,896 | 102,723 |
Proceeds from mortgage loans held for sale | ||||||||||||
87,528 | 116,480 | 108,009 | 60,962 | 49,507 | 66,000 | 83,832 | 74,793 | 84,528 | 129,635 | 130,855 | 142,273 | 114,563 |
Gain on mortgage loans held for sale, including origination of servicing rights | ||||||||||||
- | - | - | - | - | - | - | - | 2,024 | - | - | - | - |
Mortgage servicing rights valuation adjustment | ||||||||||||
5,228 | - | - | - | 1,990 | - | - | - | - | - | - | - | - |
Originations of mortgage servicing rights | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 748 | 808 | 628 |
Net loss (gain) on disposals of premises and equipment | ||||||||||||
-1 | -15 | -51 | -84 | 11 | -15 | -41 | 7 | -26 | -20 | -44 | 1,515 | -17 |
Increase in the cash surrender value of life insurance | ||||||||||||
554 | 206 | 185 | 182 | 182 | 219 | 161 | 141 | 192 | 160 | 148 | 155 | 168 |
Net loss on sales and write downs of other real estate owned | ||||||||||||
-24 | -23 | -81 | -82 | -8 | -8 | -166 | 114 | -35 | -316 | 0 | 30 | -112 |
Net decrease in accrued interest and other assets | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 3,533 | 9,865 | -3,969 |
Net increase in accrued expenses and other liabilities | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 15,921 | -7,468 | 9,545 |
Other operating activities, net | ||||||||||||
2,939 | -2,219 | 5,650 | -14,569 | 3,103 | 5,463 | -15,730 | 6,371 | -4,198 | -1,461 | 1,003 | 1,294 | -1,309 |
Net cash provided by operating activities | ||||||||||||
7,728 | 22,569 | 10,932 | 9,722 | 18,330 | 13,730 | 34,078 | 3,617 | 26,401 | 7,746 | 19,622 | -4,082 | 38,702 |
Cash flows from investing activities: | ||||||||||||
Purchases of securities available for sale | ||||||||||||
131,064 | 53,482 | 34,239 | -2 | 6,825 | 27,089 | 131,810 | 200,315 | 118,334 | 124,846 | 98,045 | 94,078 | 126,064 |
Maturities and paydowns of securities available for sale | ||||||||||||
26,440 | 26,677 | 83,898 | 20,121 | 23,777 | 21,169 | 50,429 | 104,883 | 102,671 | 101,581 | 102,195 | 101,895 | 103,509 |
Proceeds from sales and calls of securities available for sale | ||||||||||||
22,375 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Maturities, paydowns and calls of securities held to maturity | ||||||||||||
138 | 137 | 138 | 131 | 135 | 433 | 129 | 129 | 327 | 125 | 119 | 127 | 149 |
Net purchases of non-marketable equity securities held in other financial institutions | ||||||||||||
12,306 | -9,592 | 14 | 6,170 | 22 | 2,786 | 14,240 | 0 | 0 | - | - | - | - |
Originations of mortgage warehouse loans | ||||||||||||
1,259,966 | 1,198,480 | 1,272,555 | 1,049,024 | 786,112 | 1,007,075 | 1,250,837 | 1,294,495 | 943,243 | 3,077,783 | 46,032 | 434,983 | 784,671 |
Proceeds from pay-offs of mortgage warehouse loans | ||||||||||||
1,097,367 | 1,228,739 | 1,192,577 | 1,026,826 | 791,239 | 1,032,529 | 1,288,005 | 1,215,155 | 1,007,133 | 3,088,257 | 78,365 | 420,696 | 757,482 |
Net increase in loans, excluding mortgage warehouse and loans held for sale | ||||||||||||
174,836 | -11,957 | 128,266 | 124,592 | 49,377 | 217,241 | 265,734 | 47,233 | 70,945 | 25,620 | 109,274 | 78,506 | -34,017 |
Bank-owned life insurance payout | ||||||||||||
1,641 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Return of capital on limited partnership investments | ||||||||||||
0 | 102 | 0 | 326 | 75 | 120 | 192 | 0 | 144 | 88 | 15 | 221 | 520 |
Capital calls on limited partnership investments | ||||||||||||
150 | 250 | 450 | 821 | 0 | 0 | 713 | 675 | 1,450 | 509 | 523 | 143 | 1,000 |
Purchases of premises and equipment | ||||||||||||
1,173 | 966 | 1,698 | 3,430 | 5,058 | 1,280 | 1,941 | 1,717 | 544 | 1,329 | 311 | 303 | 1,088 |
Proceeds from sales of premises and equipment | ||||||||||||
0 | 0 | 0 | 16 | 11 | 0 | 0 | 58 | 53 | -98 | -2,281 | 6,619 | 171 |
Proceeds from sales of other real estate owned | ||||||||||||
20 | 31 | 344 | 23 | 72 | 11 | -81 | 438 | 148 | 1,950 | 0 | 666 | 628 |
Net cash used in investing activities | ||||||||||||
-431,514 | 24,251 | -136,999 | -146,352 | -32,085 | -180,297 | -337,048 | -223,542 | -24,040 | -29,737 | -80,058 | -71,508 | -16,347 |
Cash flows from financing activities: | ||||||||||||
Net increase in deposits | ||||||||||||
327,634 | -55,705 | 429,305 | -43,236 | 115,110 | 55,980 | 55,061 | 91,359 | 68,724 | 58,479 | 49,211 | -66,452 | 27,510 |
Repayments on long-term FHLB advances | ||||||||||||
211 | 100,578 | 206 | 658 | 207 | 20,589 | 30,254 | 251 | 248 | - | - | 239 | 237 |
Proceeds from short-term FHLB advances | ||||||||||||
400,000 | - | - | - | 505,000 | - | - | - | - | - | - | - | - |
Repayments on short-term FHLB advances | ||||||||||||
100,000 | - | - | - | 605,000 | - | - | - | - | - | - | - | - |
Issuance of subordinated debentures, net | ||||||||||||
68,847 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Net increase in other borrowed funds | ||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - |
Net decrease in securities sold under agreements to repurchase | ||||||||||||
-1,184 | -5,616 | -11,609 | -389 | -5,983 | 6,504 | -693 | 7,320 | -8,996 | 14,378 | -6,654 | 1,119 | -6,110 |
Dividends paid | ||||||||||||
2,164 | 2,165 | 2,161 | 769 | 768 | 768 | 766 | 2,658 | 1,749 | 1,750 | 1,748 | 1,750 | 1,748 |
Taxes paid related to net share settlement of equity awards | ||||||||||||
- | - | - | - | - | 0 | 0 | 3 | 22 | 224 | 44 | 18 | 62 |
Cash received from exercise of stock options | ||||||||||||
248 | 0 | 0 | 1 | 165 | 461 | 98 | 0 | 0 | - | - | - | - |
Common stock repurchased | ||||||||||||
723 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||||||
692,447 | -64,064 | 235,269 | 224,950 | 8,317 | 142,808 | 273,833 | 142,242 | 57,709 | 70,431 | 40,522 | -67,340 | 19,353 |
Net increase (decrease) in cash and cash equivalents | ||||||||||||
268,661 | -17,244 | 109,202 | 88,320 | -5,438 | -23,759 | -29,137 | -77,683 | 60,070 | 48,440 | -19,914 | -142,930 | 41,708 |
Interest paid | ||||||||||||
11,965 | 12,792 | 14,439 | 13,890 | 12,106 | 10,883 | 8,807 | 7,821 | 6,879 | - | - | - | - |
Income taxes paid | ||||||||||||
0 | 9,385 | 0 | 638 | 0 | 293 | 8 | 373 | 1 | -30 | 493 | 4,793 | 12 |
Significant non-cash transactions: | ||||||||||||
Unsettled liability for investment purchases recorded at trade date | ||||||||||||
8,760 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Real estate acquired in settlement of loans | ||||||||||||
588 | 242 | 1,335 | 0 | 0 | 452 | -57 | 257 | 405 | 0 | -1 | 631 | 119 |