| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net Income (Loss) Attributable to Parent | ||||||||
60,193 | 54,424 | 37,988 | 28,641 | 22,488 | 15,928 | 12,867 | 10,672 | 7,218 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and intangible amortization expense | ||||||||
3,646 | 3,509 | 3,366 | 3,077 | 2,882 | 2,506 | 1,058 | 878 | 832 |
Amortization of deferred financing costs | ||||||||
84 | 203 | 203 | 202 | 203 | 118 | 0 | 0 | - |
Provision for Loan and Lease Losses | ||||||||
-968 | -205 | -623 | 838 | 13 | 10,159 | 8,187 | 8,185 | 5,339 |
Net gain on the sale of loans | ||||||||
0 | 19 | 17 | 0 | 0 | - | - | - | - |
Net decrease in prepaid FDIC insurance expense | ||||||||
- | - | - | - | - | - | -7,843 | -1,284 | -1,717 |
Stock-based compensation expense | ||||||||
8,825 | 8,200 | 5,872 | 3,567 | 1,949 | 896 | 654 | 889 | 1,618 |
Net gain on the sale or call of debt securities available-for-sale | ||||||||
312 | -73 | 295 | 31 | 33 | 1,428 | 797 | 1,114 | 1,323 |
Income from equity securities | ||||||||
842 | -775 | 0 | 0 | - | - | - | - | - |
Income from debt securities trading | ||||||||
0 | 0 | 48 | 0 | - | - | - | - | - |
Net gain on the call of debt securities held-to-maturity | ||||||||
104 | 3 | 15 | 46 | 0 | 0 | - | - | - |
Income from investment securities trading | ||||||||
- | - | - | - | 20 | 0 | 120 | 507 | 0 |
Purchase of debt securities trading | ||||||||
0 | 0 | 9,802 | 0 | 4,963 | 0 | 77,244 | 108,957 | 0 |
Proceeds from the sale of debt securities trading | ||||||||
0 | 0 | 9,850 | 0 | 4,983 | 0 | 77,400 | 109,466 | 0 |
Net amortization (accretion) of premiums and discounts on debt securities | ||||||||
-16 | -606 | -919 | -883 | -752 | -1,337 | -2,186 | -2,205 | -1,443 |
Decrease (increase) in investment management fees receivable, net | ||||||||
261 | -421 | -29 | 646 | -627 | 1,514 | 0 | 0 | - |
Decrease (increase) in accrued interest receivable | ||||||||
1,624 | 7,183 | 3,905 | 2,558 | 777 | 99 | 840 | 538 | -408 |
Decrease (increase) in accrued interest payable | ||||||||
286 | 2,705 | 632 | 105 | 27 | 1,214 | -288 | -541 | -1,166 |
Bank owned life insurance income | ||||||||
1,736 | 1,716 | 1,778 | 1,796 | 1,696 | 1,441 | 996 | 512 | 346 |
Change in fair value of acquisition earn out | ||||||||
0 | -218 | 0 | -3,687 | 0 | 1,614 | 0 | 0 | - |
Decrease in income taxes payable | ||||||||
-156 | -9 | 166 | -95 | 713 | -160 | 54 | -966 | -147 |
Decrease in prepaid income taxes | ||||||||
-5,189 | -8,369 | 10,222 | 5,438 | -762 | 2,514 | 0 | 0 | - |
Deferred tax provision | ||||||||
-2,640 | -234 | -11,110 | -3,675 | -172 | 1,076 | 1,853 | 793 | -808 |
Increase (decrease) in accounts payable and other accrued expenses | ||||||||
-6,361 | 9,566 | -1,508 | 3,661 | 7,263 | 2,149 | 6,167 | -140 | -314 |
Payment of contingent consideration impacting operations | ||||||||
- | - | - | - | 1,771 | 0 | 0 | - | - |
Cash received for allowance for leasehold improvements | ||||||||
- | - | - | 1,050 | 0 | 0 | - | - | - |
Other, net | ||||||||
-322 | 2,966 | -3,709 | -1,293 | -1,884 | 659 | -1,704 | -1,214 | -845 |
Net cash provided by (used in) operating activities | ||||||||
68,193 | 82,698 | 38,213 | 30,109 | 31,690 | 28,348 | 32,552 | 18,297 | 15,242 |
Cash flows from investing activities: | ||||||||
Purchase of debt securities available-for-sale | ||||||||
59,110 | 155,632 | 30,204 | 27,211 | 36,732 | 52,799 | 154,951 | 68,190 | 121,798 |
Purchase of debt securities held-to-maturity | ||||||||
258,428 | 144,127 | 8,467 | 9,250 | 14,357 | 24,454 | 5,000 | 0 | 0 |
Purchase of equity securities | ||||||||
0 | 5,224 | 266 | 284 | - | - | - | - | - |
Proceeds from Sale of Debt Securities, Available-for-sale | ||||||||
6,993 | 31,306 | 2,527 | 4,691 | 11,792 | 69,555 | 68,200 | 19,748 | 90,763 |
Proceeds from the sale of equity securities | ||||||||
13,679 | 0 | 0 | - | - | - | - | - | - |
Principal repayments and maturities of debt securities available-for-sale | ||||||||
43,704 | 25,652 | 55,621 | 17,333 | 21,292 | 21,198 | 48,345 | 21,018 | 13,013 |
Principal repayments and maturities of debt securities held-to-maturity | ||||||||
258,581 | 7,176 | 3,000 | 2,500 | 6,540 | 10,000 | 0 | - | - |
Purchase of bank owned life insurance | ||||||||
- | - | - | 3,000 | 5,000 | 10,000 | 20,000 | 10,000 | 0 |
Investment in low income housing and historic tax credits | ||||||||
12,505 | 4,834 | 5,502 | 1,625 | 0 | - | - | - | - |
Net redemption of Federal Home Loan Bank stock | ||||||||
-347 | 10,879 | 4,151 | -161 | 4,072 | 3,394 | -90 | 846 | -360 |
Net increase in loans and leases | ||||||||
1,442,818 | 956,706 | 793,762 | 564,634 | 448,236 | 348,057 | 187,991 | 245,521 | 140,768 |
Investment in small business investment companies | ||||||||
1,283 | 736 | 1,405 | 0 | 0 | - | - | - | - |
Purchase of low income housing tax credit investments | ||||||||
- | - | - | - | - | 0 | - | - | - |
Purchase of loans held-for-investment | ||||||||
- | - | - | - | - | 219,547 | 41,146 | 0 | 0 |
Proceeds from loan sales | ||||||||
0 | 7,092 | 6,867 | 1,196 | 4,692 | 19,445 | 2,925 | 4,228 | 11,423 |
Proceeds from the sale of other real estate owned | ||||||||
169 | 0 | 597 | 1,080 | 0 | 0 | - | - | - |
Additions to office properties and equipment | ||||||||
6,080 | 1,782 | 929 | 2,937 | 1,035 | 971 | 1,017 | 1,149 | 1,442 |
Acquisition | ||||||||
0 | 1,335 | 0 | 14,095 | 0 | 42,912 | 0 | 0 | - |
Net cash used in investing activities | ||||||||
-1,456,751 | -1,210,029 | -776,074 | -596,075 | -465,116 | -581,936 | -290,515 | -280,712 | -148,449 |
Cash flows from financing activities: | ||||||||
Net increase in deposit accounts | ||||||||
1,584,152 | 1,062,850 | 700,832 | 596,935 | 352,891 | 375,248 | 138,326 | 186,253 | 166,526 |
Net decrease in Federal Home Loan Bank advances | ||||||||
10,000 | - | - | 15,000 | 0 | 0 | - | - | - |
Net increase (decrease) in line of credit advances | ||||||||
4,250 | 1,950 | 6,200 | 0 | 0 | - | - | - | - |
Net increase (decrease) in Federal Home Loan Bank advances | ||||||||
- | 70,000 | 90,000 | - | 90,000 | 110,000 | 0 | 20,000 | 0 |
Net proceeds from issuance of subordinated notes payable | ||||||||
- | - | - | - | - | 33,988 | 0 | 0 | - |
Net proceeds from issuance of preferred stock | ||||||||
77,611 | 38,468 | 0 | 0 | - | - | - | 46,011 | 0 |
Repayment of subordinated debt | ||||||||
35,000 | 0 | 0 | - | - | - | - | - | - |
Net proceeds from issuance of common stock | ||||||||
- | - | - | - | - | - | 65,990 | 0 | 230 |
Net proceeds from exercise of stock options | ||||||||
900 | 1,667 | 1,663 | 2,674 | 353 | 250 | 125 | 0 | 0 |
Payments for Cancellation of Stock Options | ||||||||
0 | 945 | 0 | 6,200 | 229 | 0 | - | - | - |
Payment of contingent consideration | ||||||||
2,920 | 0 | 0 | - | 15,465 | 0 | 0 | - | - |
Redemption of stock options | ||||||||
- | - | - | - | - | - | 0 | - | - |
Purchase of treasury stock | ||||||||
2,312 | 6,807 | 8,675 | 5,125 | 3,158 | 6,746 | 0 | 0 | - |
Retirement of preferred stock | ||||||||
- | - | - | - | - | - | - | 24,150 | 0 |
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | ||||||||
5,753 | 2,120 | 0 | 0 | - | - | - | 1,083 | 1,254 |
Net cash provided by financing activities | ||||||||
1,602,428 | 1,161,163 | 790,020 | 573,284 | 424,392 | 512,740 | 204,441 | 227,031 | 165,502 |
Net change in cash and cash equivalents during the period | ||||||||
213,870 | 33,832 | 52,159 | 7,318 | -9,034 | -40,848 | -53,522 | -35,384 | 32,295 |
Supplemental disclosure of cash flow information: | ||||||||
Interest expense | ||||||||
135,021 | 83,474 | 42,107 | 23,192 | 15,413 | 10,918 | 11,355 | 14,215 | 19,152 |
Income taxes | ||||||||
-2,035 | -4,331 | 7,266 | 14,823 | 9,393 | 10,722 | 7,504 | 8,065 | 3,488 |
Assets acquired | ||||||||
- | - | - | 1,038 | 0 | 6,351 | 0 | 0 | - |
Liabilities assumed | ||||||||
- | - | - | 1,402 | 0 | 1,647 | 0 | 0 | - |
Other non-cash activity: | ||||||||
Operating lease right-of-use asset | ||||||||
22,589 | - | - | - | - | - | - | - | - |
Loan foreclosures and repossessions | ||||||||
1,500 | 0 | 0 | 3,618 | 360 | 0 | 1,122 | 949 | 0 |
Sale of other real estate owned financed by the Company | ||||||||
- | - | - | - | - | - | - | 750 | 0 |
Transfer of investment securities available-for-sale to held-to-maturity | ||||||||
- | - | - | - | - | - | 20,335 | 0 | 0 |