As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD

Cash flows from operating activities

Net income 45,172 43,251 46,432 47,346 36,581

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

Depreciation and amortization 4,562 4,314 3,932 3,904 3,019
Deferred taxes 582 (1,048) 115 701 122
Stock-based compensation 698 852 783 458 447
Excess tax benefits of stock-based compensation 572 760 104 100 0
Provision for loan losses 8,568 8,755 8,650 7,872 4,659
Write-downs of other real estate owned and other repossessed assets 2,480 1,730 1,656 1,214 2,871
Gains on sale of mortgage loans held for sale (3,098) (1,468) (1,978) (1,831) (897)
Securities gains 45 211 106 (522) (58)
Gain on debt repurchase NA NA NA NA (560)
(Gains)/losses on sale of assets, net (19) (73) (321) 46 (2)
Proceeds from sale of mortgage loans held for sale 134,695 51,181 80,571 81,441 40,130
Funding of mortgage loans held for sale (109,939) (51,149) (77,501) (79,682) (39,594)
Amortization of securities premiums and discounts, net 3,976 2,661 3,098 2,452 2,375
Change in cash surrender value of bank owned life insurance (1,488) (1,506) (1,638) (1,546) (1,117)
Mortgage servicing rights
Fair value adjustments (206) 830 289 324 419
New servicing assets created (854) (374) (557) (521) (269)
Changes in
Other assets 4,647 (60) (6,274) (3,205) (3,412)
Other liabilities 323 (1,339) (2,488) 2,874 1,181
Net cash provided by operating activities 90,716 57,528 54,979 61,425 45,895

Cash flows from investing activities

Certificates of deposit in other banks

Purchase of certificates of deposit (4,472) (245) 0 0 (11,515)
Maturity of certificates of deposit 240 1,616 4,365 2,852 1,225

Securities available-for-sale (AFS)

Purchase of AFS securities (197,264) (217,949) (81,456) (176,236) (146,822)
Proceeds from the sales of AFS securities 42,936 135,411 44,198 54,446 66,359
Proceeds from prepayments and maturities of AFS securities 112,412 63,023 79,068 104,302 82,672

Securities held-to-maturity (HTM)

Proceeds from maturities of HTM securities 0 0 1 795 8
Change in loans, net (76,442) (132,906) (161,702) (74,379) (181,282)
Purchase of premises and equipment (2,105) (2,081) (2,246) (3,498) (1,681)
Proceeds from sale and retirement of premises and equipment 48 82 239 10 25
Redemption of stock by FHLB 0 7,746 0 0 NA
Additional investment in Federal Reserve Bank stock (1) (1) (18) 0 NA
Cancellation of Federal Reserve Bank stock 0 18 0 0 NA
Proceeds from sale of other real estate and other repossessed assets 9,914 6,714 9,287 5,601 3,073
Additional investment in other real estate owned and repossessed assets (6) 0 (85) 0 NA
Additional investment in bank owned life insurance (7,306) (5,504) 0 0 NA
Net cash used in investing activities (122,046) (144,076) (108,349) (86,107) (187,938)

Cash flows from financing activities

Change in deposits, net (48,774) 19,183 106,525 100,526 119,058
Change in repurchase agreements and federal funds purchased, net (1,902) 25,695 8,594 1,060 12,322
Proceeds from Federal Home Loan Bank advances 30,000 60,000 170,000 50,000 150,000
Payments on advances from Federal Home Loan Bank (30,143) (116) (130,114) (150,112) (100,075)
Repurchase of long-term debt NA NA NA NA (1,440)
Issuance of common stock 6,348 1,992 2,082 2,985 1,017
Netting of common stock 0 NA NA NA NA
Repurchase of common stock NA 0 (189) (382) 0
Excess tax benefits of stock-based compensation (572) (760) (104) (100) 0
Dividends paid (24,546) (20,570) (21,330) (22,190) (17,139)
Net cash provided by (used in) financing activities (69,589) 85,424 135,464 (18,213) 163,743
Net increase (decrease) in cash and cash equivalents (100,919) (1,124) 82,094 (42,895) 21,700
Cash and cash equivalents at beginning of period 207,560 106,641 105,517 187,611 144,716
Cash and cash equivalents at end of period 106,641 105,517 187,611 144,716 166,416

Supplemental disclosures

Income taxes paid 20,827 15,818 20,527 19,244 16,250
Interest paid 13,717 11,922 11,609 13,426 11,151

Non-cash activities

Loans to facilitate the sale of other real estate owned and repossessed assets 3,528 6,168 4,343 3,964 2,250
Common stock dividends accrued, paid in subsequent quarter 167 216 239 209 208
Real estate acquired in settlement of loans 7,384 12,199 18,557 5,900 4,156
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.