As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD

Cash flows from operating activities

Net income 43,251 46,432 47,346 51,493 43,519

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization 4,314 3,932 3,904 4,007 2,853
Deferred taxes (1,048) 115 701 (3,090) 159
Stock-based compensation 852 783 458 636 553
Excess tax benefits of stock-based compensation 760 104 100 0 NA
Provision for loan losses 8,755 8,650 7,872 7,521 4,418
Write-downs of other real estate owned and other repossessed assets 1,730 1,656 1,214 3,034 1,990
Gains on sale of mortgage loans held for sale (1,468) (1,978) (1,831) (1,320) (902)
Securities (gains) losses 211 106 (522) (73) 288
Gain on debt repurchase NA 0 0 (560) 0
Gains on sale of assets, net (73) (321) 46 40 (107)
Proceeds from sale of mortgage loans held for sale 51,181 80,571 81,441 59,400 40,284
Funding of mortgage loans held for sale (51,149) (77,501) (79,682) (57,869) (39,378)
Amortization of securities premiums and discounts, net 2,661 3,098 2,452 3,437 3,648
Change in cash surrender value of bank owned life insurance (1,506) (1,638) (1,546) (1,473) (2,563)
Mortgage servicing rights
Fair value adjustments 830 289 324 361 (2)
New servicing assets created (374) (557) (521) (412) (329)
Changes in
Other assets (60) (6,274) (3,205) (4,412) (11,904)
Other liabilities (1,339) (2,488) 2,874 1,631 9,497
Net cash provided by operating activities 57,528 54,979 61,425 62,351 52,024

Cash flows from investing activities

Certificates of deposit in other banks

Purchase of certificates of deposit (245) 0 0 (11,760) 0
Maturity of certificates of deposit 1,616 4,365 2,852 2,940 4,655

Securities available-for-sale (AFS)

Purchase of AFS securities (217,949) (81,456) (176,236) (231,680) (144,177)
Proceeds from the sales of AFS securities 135,411 44,198 54,446 87,472 57,079
Proceeds from prepayments and maturities of AFS securities 63,023 79,068 104,302 159,584 89,735

Securities held-to-maturity (HTM)

Proceeds from maturities of HTM securities 0 1 795 207 0
Change in loans, net (132,906) (161,702) (74,379) (194,548) (60,707)
Purchase of premises and equipment (2,081) (2,246) (3,498) (2,400) (2,343)
Proceeds from sale and retirement of premises and equipment 82 239 10 25 23
Redemption of stock by FHLB 7,746 NA NA NA NA
Additional investment in Federal Reserve Bank stock (1) (18) 0 0 NA
Cancellation of Federal Reserve Bank stock 18 NA NA NA NA
Redemption of stock by Federal Home Loan Bank NA NA NA NA 3,214
Proceeds from sale of other real estate and repossessed assets 6,714 9,287 5,601 3,574 1,491
Additional investment in other real estate owned and repossessed assets 0 (85) 0 0 NA
Additional investment in bank owned life insurance (5,504) NA NA NA NA
Proceeds from settlement of bank owned life insurance NA NA NA NA 1,202
Net cash used in investing activities (144,076) (108,349) (86,107) (186,586) (49,828)

Cash flows from financing activities

Change in deposits, net 19,183 106,525 100,526 182,555 9,783
Change in repurchase agreements and federal funds purchased, net 25,695 8,594 1,060 (4,755) 1,162
Proceeds from Federal Home Loan Bank advances 60,000 170,000 50,000 350,000 0
Payments on advances from Federal Home Loan Bank (116) (130,114) (150,112) (350,099) (58)
Repurchase of long-term debt NA 0 0 (1,440) 0
Issuance of common stock 1,992 2,082 2,985 1,513 1,003
Repurchase of common stock 0 (189) (382) 0 NA
Excess tax benefits of stock-based compensation (760) (104) (100) 0 NA
Dividends paid (20,570) (21,330) (22,190) (22,981) (18,027)
Net cash provided by (used in) financing activities 85,424 135,464 (18,213) 154,793 (6,137)
Net increase (decrease) in cash and cash equivalents (1,124) 82,094 (42,895) 30,558 (3,941)
Cash and cash equivalents at beginning of period 106,641 105,517 187,611 144,716 175,274
Cash and cash equivalents at end of period 105,517 187,611 144,716 175,274 171,333

Supplemental disclosures

Income taxes paid 15,818 20,527 19,244 21,400 8,700
Interest paid 11,922 11,609 13,426 17,266 18,185

Non-cash activities

Loans to facilitate the sale of other real estate owned and repossessed assets 6,168 4,343 3,964 2,679 2,680
Common stock dividends accrued, paid in subsequent quarter 216 239 209 205 220
Real estate acquired in settlement of loans 12,199 18,557 5,900 5,235 3,693
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.