As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

Cash flows from operating activities

Net income 46,432 47,346 51,493 59,228 14,939

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

Depreciation and amortization 3,932 3,904 4,007 3,786 1,427
Deferred taxes 115 701 (3,090) (246) 2,008
Stock-based compensation 783 458 636 710 200
Excess tax benefits of stock-based compensation 104 100 0 0 NA
Provision for loan losses 8,650 7,872 7,521 6,167 190
Write-downs of other real estate owned and other repossessed assets 1,656 1,214 3,034 2,530 489
Gains on sale of mortgage loans held for sale (1,978) (1,831) (1,320) (1,288) (330)
Securities (gains) losses 106 (522) (73) 85 (1)
Gain on debt repurchase 0 0 (560) 0 NA
Change in fair market value of equity securities NA NA NA NA (355)
Gains on sale of assets, net (321) 46 40 (175) (51)
Proceeds from sale of mortgage loans held for sale 80,571 81,441 59,400 56,689 14,927
Funding of mortgage loans held for sale (77,501) (79,682) (57,869) (56,829) (25,785)
Amortization of securities premiums and discounts, net 3,098 2,452 3,437 4,679 1,112
Change in cash surrender value of bank owned life insurance (1,638) (1,546) (1,473) (2,924) (357)

Mortgage servicing rights

Fair value adjustments 289 324 361 343 (116)
New servicing assets created (557) (521) (412) (466) 333

Changes in

Other assets (6,274) (3,205) (4,412) (15,788) 7,082
Other liabilities (2,488) 2,874 1,631 8,986 (3,622)
Net cash provided by (used in) operating activities 54,979 61,425 62,351 65,487 12,090

Cash flows from investing activities

Certificates of deposit in other banks

Purchase of certificates of deposit 0 0 (11,760) 0 NA
Maturity of certificates of deposit 4,365 2,852 2,940 5,880 2,450

Securities available-for-sale (AFS)

Purchase of AFS securities (81,456) (176,236) (231,680) (281,511) (59,583)
Proceeds from the sales of AFS securities 44,198 54,446 87,472 153,315 12,550
Proceeds from prepayments and maturities of AFS securities 79,068 104,302 159,584 109,701 46,491

Securities held-to-maturity (HTM)

Proceeds from maturities of HTM securities 1 795 207 10 30
Change in loans, net (161,702) (74,379) (194,548) (93,151) 18,755
Purchase of premises and equipment (2,246) (3,498) (2,400) (2,832) (226)
Proceeds from sale and retirement of premises and equipment 239 10 25 97 0
Additional investment in Federal Reserve Bank stock (18) NA NA NA NA
Redemption of stock by Federal Home Loan Bank NA 0 0 3,214 2,452
Proceeds from sale of other real estate and repossessed assets 9,287 5,601 3,574 3,485 964
Additional investment in other real estate owned and repossessed assets (85) NA NA NA NA
Proceeds from settlement of bank owned life insurance NA 0 0 1,202 0
Net cash provided by (used in) investing activities (108,349) (86,107) (186,586) (100,590) 23,883

Cash flows from financing activities

Change in deposits, net 106,525 100,526 182,555 42,087 77,153
Change in repurchase agreements and federal funds purchased, net 8,594 1,060 (4,755) (17,234) 5,414
Proceeds from Federal Home Loan Bank advances 170,000 50,000 350,000 0 30,000
Payments on advances from Federal Home Loan Bank (130,114) (150,112) (350,099) (409) (30,005)
Repurchase of long-term debt 0 0 (1,440) 0 NA
Issuance of common stock 2,082 2,985 1,513 1,230 258
Repurchase of common stock (189) (382) 0 0 NA
Excess tax benefits of stock-based compensation (104) (100) 0 0 NA
Dividends paid (21,330) (22,190) (22,981) (24,395) (6,383)
Net cash provided by financing activities 135,464 (18,213) 154,793 1,279 76,437
Net increase in cash and cash equivalents 82,094 (42,895) 30,558 (33,824) 112,410
Cash and cash equivalents at beginning of period 105,517 187,611 144,716 175,274 141,450
Cash and cash equivalents at end of period 187,611 144,716 175,274 141,450 253,860

Supplemental disclosures

Income taxes paid 20,527 19,244 21,400 9,700 NA
Interest paid 11,609 13,426 17,266 28,621 8,830

Non-cash activities

Loans to facilitate the sale of other real estate owned and repossessed assets 4,343 3,964 2,679 4,385 1,797
Common stock dividends accrued, paid in subsequent quarter 239 209 205 221 215
Real estate acquired in settlement of loans 18,557 5,900 5,235 5,459 854
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.