As Reported Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q2 YTD 10-Q 6/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q2 YTD 10-Q 6/30/2019 USD

Cash flows from operating activities

Net income 46,432 47,346 51,493 59,228 33,263

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

Depreciation and amortization 3,932 3,904 4,007 3,786 2,689
Deferred taxes 115 701 (3,090) (246) (2,588)
Stock-based compensation 783 458 636 710 432
Excess tax benefits of stock-based compensation 104 100 0 0 NA
Provision for loan losses 8,650 7,872 7,521 6,167 1,753
Write-downs of other real estate owned and other repossessed assets 1,656 1,214 3,034 2,530 1,181
Gains on sale of mortgage loans held for sale (1,978) (1,831) (1,320) (1,288) (848)
Securities (gains) losses, net 106 (522) (73) 85 (6)
Gain on debt repurchase 0 0 (560) 0 NA
Change in fair market value of equity securities NA NA NA NA (554)
(Gains) losses on sale of assets, net (321) 46 40 (175) 38
Proceeds from sale of mortgage loans held for sale 80,571 81,441 59,400 56,689 44,665
Funding of mortgage loans held for sale (77,501) (79,682) (57,869) (56,829) (42,423)
Amortization of securities premiums and discounts, net 3,098 2,452 3,437 4,679 2,361
Change in cash surrender value of bank owned life insurance (1,638) (1,546) (1,473) (2,924) (843)
Payment of operating lease liabilities NA NA NA NA (848)

Mortgage servicing rights

Fair value adjustments 289 324 361 343 795
New servicing assets created (557) (521) (412) (466) (307)

Changes in

Other assets (6,274) (3,205) (4,412) (15,788) (11,913)
Other liabilities (2,488) 2,874 1,631 8,986 (5,211)
Net cash provided by operating activities 54,979 61,425 62,351 65,487 21,636

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 3,675

Securities available-for-sale (AFS)

Purchase of AFS securities (81,456) (176,236) (231,680) (281,511) (111,117)
Proceeds from the sales of AFS securities 44,198 54,446 87,472 153,315 25,734
Proceeds from prepayments and maturities of AFS securities 79,068 104,302 159,584 109,701 97,829

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) 15,176
Purchase of premises and equipment (2,246) (3,498) (2,400) (2,832) (1,042)
Proceeds from sale and retirement of premises and equipment 239 10 25 97 13
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 3,353
Proceeds from sale of other real estate and repossessed assets 9,287 5,601 3,574 3,485 2,123
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 1,202 615
Net cash provided by (used in) investing activities (108,349) (86,107) (186,586) (100,590) 36,389

Cash flows from financing activities

Change in deposits, net 106,525 100,526 182,555 42,087 131,231
Change in repurchase agreements and federal funds purchased, net 8,594 1,060 (4,755) (17,234) 3,246
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) (30,010)
Repurchase of long-term debt 0 0 (1,440) 0 NA
Payment of finance lease liabilities NA NA NA NA (7)
Issuance of common stock 2,082 2,985 1,513 1,230 474
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) (12,770)
Net cash provided by financing activities 135,464 (18,213) 154,793 1,279 122,164
Net increase in cash and cash equivalents 82,094 (42,895) 30,558 (33,824) 180,189
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 187,611 144,716 175,274 141,450 321,639

Supplemental disclosures

Income taxes paid 20,527 19,244 21,400 9,700 6,500
Interest paid 11,609 13,426 17,266 28,621 18,218

Non-cash activities

Loans to facilitate the sale of other real estate owned and repossessed assets 4,343 3,964 2,679 4,385 2,650
Common stock dividends accrued, paid in subsequent quarter 239 209 205 221 208
Real estate acquired in settlement of loans 18,557 5,900 5,235 5,459 1,242
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.