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 Q2 YTD 6/30/2019 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 Q2 YTD 6/30/2019 USD

OPERATING ACTIVITIES

Net income 39,158 15,979 (681) 11,905 15,368

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

Provision for Loan Losses 3,300 17,717 43,197 16,870 2,996
Origination of Loans Held-for-Sale 0 0 (45,900) (29,307) (81,077)
Proceeds From Loans Held-for-Sale 0 0 45,383 27,265 73,795
Depreciation of Bank Premises and Equipment, Net 3,255 3,285 3,150 3,682 2,569
Amortization of Core Deposit Intangible 2,447 NA NA NA NA
Deferred Income Tax Provision (2,283) (5,832) (10,371) 4,850 1,001
Net Amortization of Securities 0 NA 1,332 4,704 2,051
Tax Credit Impairment NA 0 3,259 0 NA
Tax Credit Amortization NA 0 0 4,060 1,126
Gains on Sales of Securities, Net 0 0 (1,186) (1,271) (940)
Write-downs of Other Real Estate Owned, Net 13 8,411 9,967 8,714 90
Losses (Gains) on Sales of Other Real Estate Owned, Net 248 2,336 (58) (513) 186
Losses on Sales and Write-downs of Bank Premises 0 0 714 186 NA
(Gains) Losses on Sales and Write-downs of Bank Premises and Equip, Net NA NA NA NA (8)
Increase in the Value of Life Insurance Contracts NA 0 0 (1,161) (717)
Stock Compensation Expense NA 0 0 9 NA
Stock Compensation Expense, net of forfeitures NA NA NA NA 157
Decrease (Increase) in Other Assets 10,469 (9,254) (8,053) (2,504) 6,622
Increase (Decrease) in Other Liabilities (2,949) 14 3,511 1,653 239
Net Cash Provided By Operating Activities 53,658 32,656 44,264 49,142 23,458

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 0 123,920 133,120 163,908
Proceeds from Maturities, Redemptions, and Pay-downs 0 0 183,197 219,223 33,056
Purchases 0 0 (393,499) (201,240) (200,407)
Purchase of Federal Home Loan Bank Stock, at Cost NA NA NA NA (3,688)
Purchase of Bank Premises and Equipment, Net (597) (844) (3,540) (14,613) (4,202)
Proceeds from Sales of Bank Premises and Equipment, Net NA NA NA NA 1,135
Loan Originations and Payments, Net (319,186) (95,977) (5,606) (59,655) (164,118)
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 of Other Real Estate Owned 649 2,124 3,802 28,679 9,751
Net Cash Used In Investing Activities 87,029 447,542 (76,204) 54,242 (164,565)

FINANCING ACTIVITIES

Net Change in Demand, Money Markets and Savings Accounts 88,996 (45,681) (66,225) (121,986) 21,436
(Decrease) Increase in Time Deposits 151,608 (345,041) (327,999) 43,552 (35,137)
Cash Dividends (10,503) (7,878) 0 0 NA
Net Cash Used In Financing Activities 230,101 (398,600) (394,224) (78,434) (13,701)
Net Decrease in Cash and Cash Equivalents 370,788 81,598 (426,164) 24,950 (154,808)
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 613,179 694,777 268,613 293,563 139,015

Supplementary Data

Cash Paid for Interest 47,124 46,848 37,824 37,918 22,705
Cash Paid for Income Taxes 6,988 10,801 1,675 175 150
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) NA
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 28,212 262
Transfer from Bank Premises and Equipment to Other Real Estate Owned 0 0 19,009 2,177 706
Loans Provided for Sales of Other Real Estate Owned 0 7,771 7,347 893 0
Right-of-use Asset Recorded in Exchange for Lease Liabilities NA NA NA NA 1,225
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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