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
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

OPERATING ACTIVITIES

Net Income (Loss) 39,158 15,979 (681) 11,905

Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities

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

INVESTING ACTIVITIES

Securities Held-to-Maturity

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

Securities Available-for-Sale

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

FINANCING ACTIVITIES

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

SUPPLEMENTARY DATA

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