As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2012 Y 12/31/2014 USD 2013 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD
Source Document Currency Code 2012 Y 12/31/2014 USD 2013 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD

Cash flows from operating activities

Net income 44,862 45,172 43,251 46,432 35,480

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

Depreciation and amortization 4,324 4,562 4,314 3,932 2,878
Deferred taxes 5,441 582 (1,048) 115 519
Stock-based compensation 592 698 852 783 347
Excess tax benefits of stock-based compensation 496 572 760 104 (58)
Provision for loan losses 9,450 8,568 8,755 8,650 5,829
Write-downs of other real estate owned and other repossessed assets 2,704 2,480 1,730 1,656 632
Gains on sale of mortgage loans held for sale (2,562) (3,098) (1,468) (1,978) (1,357)
Securities gains (1,155) 45 211 106 (522)
(Gains)/losses on sale of assets, net 328 (19) (73) (321) 77
Proceeds from sale of mortgage loans held for sale 113,632 134,695 51,181 80,571 61,339
Funding of mortgage loans held for sale (133,021) (109,939) (51,149) (77,501) (60,885)
Amortization of securities premiums and discounts, net 5,375 3,976 2,661 3,098 1,614
Change in cash surrender value of bank owned life insurance (1,410) (1,488) (1,506) (1,638) (1,151)
Mortgage servicing rights
Fair value adjustments 559 (206) 830 289 660
New servicing assets created (641) (854) (374) (557) (388)
Changes in
Other assets 1,792 4,647 (60) (6,274) (3,902)
Other liabilities 7,130 323 (1,339) (2,488) 11,967
Net cash provided by operating activities 57,896 90,716 57,528 54,979 53,079

Cash flows from investing activities

Certificates of deposit in other banks

Purchase of certificates of deposit 0 (4,472) (245) 0 NA
Maturity of certificates of deposit 6,539 240 1,616 4,365 2,852

Securities available-for-sale (AFS)

Purchase of AFS securities (285,795) (197,264) (217,949) (81,456) (159,603)
Proceeds from the sales of AFS securities 39,856 42,936 135,411 44,198 54,446
Proceeds from prepayments and maturities of AFS securities 169,592 112,412 63,023 79,068 73,027

Securities held-to-maturity (HTM)

Proceeds from maturities of HTM securities NA 0 0 1 480
Change in loans, net (7,664) (76,442) (132,906) (161,702) (65,136)
Purchase of premises and equipment (4,301) (2,105) (2,081) (2,246) (2,411)
Proceeds from sale and retirement of premises and equipment 108 48 82 239 10
Asset retirement 167 NA NA NA NA
Redemption of stock by FHLB 0 0 7,746 0 NA
Investment in Federal Reserve Bank stock (2) (1) (1) (18) 0
Cancellation of Federal Reserve Bank stock 0 0 18 0 NA
Proceeds from sale of other real estate and other repossessed assets 11,082 9,914 6,714 9,287 4,041
Investment in other real estate and other repossessed assets (545) (6) 0 (85) 0
Additional investment in bank owned life insurance 0 (7,306) (5,504) 0 NA
Net cash used in investing activities (70,963) (122,046) (144,076) (108,349) (92,294)

Cash flows from financing activities

Change in deposits, net 25,489 (48,774) 19,183 106,525 73,203
Change in repurchase agreements, federal funds purchased, and other short-term borrowings, net (7,847) (1,902) 25,695 8,594 14,272
Advances from Federal Home Loan Bank 0 30,000 60,000 170,000 0
Payments on advances from Federal Home Loan Bank (20,180) (30,143) (116) (130,114) (100,085)
Issuance of common stock 4,395 6,348 1,992 2,082 2,262
Netting of common stock NA 0 0 (189) NA
Repurchase of common stock NA NA NA NA (382)
Excess tax benefits of stock-based compensation (496) (572) (760) (104) 58
Dividends paid (19,215) (24,546) (20,570) (21,330) (16,546)
Net cash provided by (used in) financing activities (17,854) (69,589) 85,424 135,464 (27,218)
Net increase (decrease) in cash and cash equivalents (30,921) (100,919) (1,124) 82,094 (66,433)
Cash and cash equivalents at beginning of period 238,481 207,560 106,641 105,517 187,611
Cash and cash equivalents at end of period 207,560 106,641 105,517 187,611 121,178

Supplemental disclosures

Income taxes paid 11,752 20,827 15,818 20,527 13,991
Interest paid 22,451 13,717 11,922 11,609 8,796

Non-cash activities

Loans to facilitate the sale of other real estate owned and repossessed assets 7,768 3,528 6,168 4,343 2,624
Common stock dividends accrued, paid in subsequent quarter 4,887 167 216 239 212
Real estate acquired in settlement of loans 12,031 7,384 12,199 18,557 4,300
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.