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
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

Cash flows from operating activities

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

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

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

Cash flows from investing activities

Certificates of deposit in other banks

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

Securities available-for-sale (AFS)

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

Securities held-to-maturity (HTM)

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

Cash flows from financing activities

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

Supplemental disclosures

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

Non-cash activities

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