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

OPERATING ACTIVITIES

Net income 39,158 15,979 (681) 11,905 7,541

Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities

Provision for Loan Losses 3,300 17,717 43,197 16,870 1,627
Origination of Loans Held-for-Sale 0 0 (45,900) (29,307) (18,324)
Proceeds From Loans Held-for-Sale 0 0 45,383 27,265 14,598
Depreciation of Bank Premises and Equipment, Net 3,255 3,285 3,150 3,682 1,274
Amortization of Core Deposit Intangible 2,447 NA NA NA NA
Deferred Income Tax Provision (Benefit) (2,283) (5,832) (10,371) 4,850 744
Net Amortization of Securities 0 NA 1,332 4,704 982
Tax Credit Impairment NA 0 3,259 0 NA
Tax Credit Amortization NA 0 0 4,060 563
Gains on Sales of Securities, Net 0 0 (1,186) (1,271) (31)
Write-downs of Other Real Estate Owned, Net 13 8,411 9,967 8,714 7
Loss (Gain) on Sales of Other Real Estate Owned, Net 248 2,336 (58) (513) 181
Losses on Sales and Write-downs of Bank Premises 0 0 714 186 NA
Loss on Sales and Write-downs of Bank Premises and Equipment NA NA NA NA 170
Increase in the Value of Life Insurance Contracts NA 0 0 (1,161) (361)
Stock Compensation Expense NA 0 0 9 47
Forfeiture of Restricted Stock NA NA NA NA (1)
Decrease in Other Assets 10,469 (9,254) (8,053) (2,504) 7,775
Increase (Decrease) in Other Liabilities (2,949) 14 3,511 1,653 1,377
Net Cash Provided By Operating Activities 53,658 32,656 44,264 49,142 18,169

INVESTING ACTIVITIES

Securities Held-to-Maturity

Proceeds from Maturities and Redemptions 406,163 667,407 57,330 0 NA
Purchases 0 (125,000) (41,436) 0 NA

Securities Available-for-Sale

Proceeds from Sales 0 0 123,920 133,120 24,882
Proceeds from Maturities, Redemptions, and Pay downs 0 0 183,197 219,223 19,054
Purchases 0 0 (393,499) (201,240) (52,925)
Purchase of Bank Premises and Equipment, Net (597) (844) (3,540) (14,613) (2,354)
Loan Originations and Payments, Net (319,186) (95,977) (5,606) (59,655) (143,247)
Purchases of Bank Owned Life Insurance NA 0 0 (50,000) 0
Other Real Estate Owned Improvements 0 (168) (372) (1,272) 0
Proceeds from Sales and Payments of Other Real Estate Owned 649 2,124 3,802 28,679 3,080
Net Cash Used In Investing Activities 87,029 447,542 (76,204) 54,242 (151,510)

FINANCING ACTIVITIES

Net Change in Demand, Money Markets and Savings Accounts 88,996 (45,681) (66,225) (121,986) 40,442
Decrease in Time Deposits 151,608 (345,041) (327,999) 43,552 (13,357)
Cash Dividends (10,503) (7,878) 0 0 NA
Net Cash Provided by (Used In) Financing Activities 230,101 (398,600) (394,224) (78,434) 27,085
Net Decrease in Cash and Cash Equivalents 370,788 81,598 (426,164) 24,950 (106,256)
Cash and Cash Equivalents at Beginning of Period 242,391 613,179 694,777 268,613 293,823
Cash and Cash Equivalents at End of Period 613,179 694,777 268,613 293,563 187,567

Supplementary Data

Cash Paid for Interest 47,124 46,848 37,824 37,918 10,785
Cash Paid for Income Taxes 6,988 10,801 1,675 175 0
Transfer of Securities from Held-to-Maturity to Available-for-Sale 0 0 863,800 0 NA
Unrealized Gain on Transfer of Securities from Held-to-Maturity to Available-for-Sale 0 0 5,600 0 NA
Unrealized Gains (Losses) on Securities Available-for-Sale 0 0 (8,435) (9,907) 7,873
Transfer from Loans to Loans Held-for-Sale 0 NA NA NA NA
Transfer from Loans to Other Real Estate Owned 503 610 17,912 28,212 179
Loans Provided for Sales of Other Real Estate Owned 0 7,771 7,347 893 0
Transfer from Fixed Assets to Other Real Estate Owned 0 0 19,009 2,177 NA
Right-of-use Asset Recorded in Exchange for Lease Liabilities NA NA NA NA 1,047
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.
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