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As Reported 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 35,166 45,903 45,632 77,852 47,523

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

Net amortization on investment securities 729 503 245 97 (21)
Net accretion on loans and amortization of core deposit intangible and operating lease components (2,835) (2,573) (6,373) (3,540) (1,833)
Unrealized (gains) losses on equity securities with readily determinable fair value NA 0 0 122 (448)
Depreciation of premises and equipment 6,610 7,304 8,472 9,347 4,572
Amortization of mortgage servicing rights 1,400 1,757 1,504 1,432 733
Provision for loan and lease losses 5,396 14,493 27,704 31,368 21,691
Net gain on sale of mortgage loans held for sale (3,915) (6,656) (3,977) (3,839) (3,478)
Origination of mortgage loans held for sale (160,989) (216,812) (160,091) (176,916) (122,696)
Proceeds from sale of mortgage loans held for sale 167,209 214,760 169,969 177,545 121,262
Net gain on sale of consumer loans held for sale (978) (2,835) (5,647) (5,930) (2,618)
Origination of consumer loans held for sale (137,551) (380,066) (663,171) (778,476) (346,413)
Proceeds from sale of consumer loans held for sale 138,015 379,907 661,098 781,951 324,260
Net gain on sale of banking center (28) NA NA NA NA
Net realized losses on debt securities (88) 0 136 0 NA
Net gain realized on sale of other real estate owned (956) (514) (831) (729) (220)
Writedowns of other real estate owned 1,257 270 155 0 NA
Impairment of premises held for sale 132 191 1,175 482 132
Deferred compensation expense - Class A Common Stock 223 170 191 645 332
Stock-based awards expense - Class A Common Stock 422 1,030 1,142 1,001 618
Increase in cash surrender value of bank owned life insurance (1,402) (1,516) (1,562) (1,527) (759)
Net change in other assets and liabilities
Accrued interest receivable (426) (659) (1,726) (1,860) (774)
Accrued interest payable (33) (298) 152 (16) 491
Other assets (2,785) (7,227) 730 2,822 581
Other liabilities 5,473 540 2,850 7,368 (7,775)
Net cash provided by operating activities 50,046 47,672 77,777 119,199 35,160

INVESTING ACTIVITIES

Net change in cash for acquisition of Cornerstone Bancorp, Inc. 0 (9,088) 0 0 NA
Purchases of available-for-sale debt securities (1,512,809) (419,254) (225,212) (173,875) 0
Purchases of held-to-maturity debt securities 0 (19,935) (15,595) (4,934) 0
Proceeds from calls, maturities and paydowns of available-for-sale debt securities 1,427,696 452,247 158,056 220,798 101,051
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities 6,663 6,112 4,207 3,911 1,315
Proceeds from sales of available-for-sale debt securities 0 0 20,012 0 NA
Net change in outstanding warehouse lines of credit (67,298) (198,710) 59,867 56,877 (269,099)
Purchase of non-business-acquisition loans, including premiums paid (117,516) (51,868) (6,160) 0 NA
Net change in other loans (100,660) (125,756) (268,839) (216,600) (137,490)
Proceeds from sale of mortgage loans transferred to held for sale 0 72,330 0 0 NA
Proceeds from redemption of Federal Home Loan Bank stock 0 224 0 0 2,102
Purchase of Federal Home Loan Bank stock 0 0 (3,859) 0 (2,277)
Proceeds from sales of other real estate owned 9,412 4,595 2,793 1,346 580
Proceeds from sale of banking center 1,623 NA NA NA NA
Net purchases of premises and equipment (5,319) (7,031) (12,383) (9,044) (4,083)
Net cash used in investing activities (358,208) (296,134) (287,113) (121,521) (307,901)

FINANCING ACTIVITIES

Net change in deposits 429,295 468,544 272,466 22,987 257,729
Net change in securities sold under agreements to repurchase and other short-term borrowings 39,325 (221,960) 30,548 (21,031) 43,012
Payments of Federal Home Loan Bank advances (218,000) (292,000) (490,000) (457,500) (565,000)
Proceeds from Federal Home Loan Bank advances 210,000 395,000 425,000 530,000 670,000
Payoff of subordinated note, net of common security interest 0 (4,000) 0 0 NA
Repurchase of Class A Common Stock (551) (1,207) (1,048) (827) (379)
Net proceeds from Class A Common Stock purchased through employee stock purchase plan NA 0 0 230 235
Net proceeds from Class A Common Stock options exercised 1,136 80 68 83 (102)
Cash dividends paid (15,839) (16,768) (17,656) (19,497) (10,449)
Net cash provided by (used in) financing activities 445,366 327,689 219,378 54,445 395,046
NET CHANGE IN CASH AND CASH EQUIVALENTS 137,204 79,227 10,042 52,123 122,305
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 72,878 210,082 289,309 299,351 351,474
CASH AND CASH EQUIVALENTS AT END OF PERIOD 210,082 289,309 299,351 351,474 473,779

SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION

Cash paid during the period for

Interest 18,495 18,219 20,106 30,139 21,561
Income taxes 17,942 26,069 28,779 11,119 6,726

SUPPLEMENTAL NONCASH DISCLOSURES

Transfers from loans to real estate acquired in settlement of loans 2,938 4,778 841 662 1,295
Transfers from loans held for sale to held for investment 0 71,201 0 2,237 0
Loans provided for sales of other real estate owned 3,248 256 0 0 NA
Transfers from loans held for investment to held for sale NA 0 0 1,392 124,202
Unfunded commitments in low-income-housing investments NA 0 9,736 14,029 0
Right-of-use assets recorded upon adoption of ASU 2016-02 NA NA NA NA 40,202
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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