As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

OPERATING ACTIVITIES

Net income 19,972 26,477 36,497 44,170 35,201

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

Depreciation 3,921 3,093 3,275 3,127 2,342
Amortization of premium and accretion of discount on securities, net 1,664 1,478 1,697 1,399 1,165
Amortization of restricted stock 1,621 2,836 3,741 4,445 4,374
Amortization of intangible assets 82 124 321 1,187 688
Amortization of subordinated debt costs 0 71 135 169 168
Provision for loan and lease losses 7,100 7,500 5,850 3,550 2,050
Valuation allowance on other real estate owned 250 0 0 232 NA
Provision for OREO losses NA NA NA NA 0
Deferred tax expense (4,043) 952 14,118 17,042 3,719
Stock-based compensation and employee stock purchase plan expense 319 156 122 189 117
Fair value adjustment for equity security NA 0 0 105 (162)
Loss on sale of securities, available for sale, net (527) (119) 0 288 0
Loans originated for sale (34,734) (70,874) (43,381) (44,075) (40,561)
Proceeds from sales of loans held for sale 34,543 72,477 45,763 44,483 42,188
Gain on loans held for sale (535) (1,633) (1,965) (1,970) (1,593)
Loss on loans held for sale at lower of cost or fair value 0 (1,233) (412) 4,392 6
Loss/(gain) on sale of other real estate owned 0 (5) 0 58 NA
Gain on disposal of premises and equipment 15 NA NA NA NA
Gain on death benefit (285) 0 (62) (3,000) NA
Loss on OREO sold NA NA NA NA 0
Cash surrender value of life insurance, net (643) (921) (818) (767) (587)
Increase in accrued interest receivable (1,449) (1,333) (1,299) (1,362) (945)
Decrease in other assets (476) 945 (9,977) (8,485) 9,681
Increase in accrued expenses and other liabilities 3,511 2,935 2,330 (929) 9,292
NET CASH PROVIDED BY OPERATING ACTIVITIES 30,306 42,926 55,935 64,248 67,143

INVESTING ACTIVITIES

Principal repayments, maturities and calls of securities available for sale 96,194 67,999 66,450 79,313 170,247
Redemptions of FHLB and FRB stock 48,627 61,606 40,561 87,602 361
Proceeds from sales of securities available for sale 46,254 5,499 0 19,542 0
Purchase of securities available for sale (8,049) (187,043) (91,561) (156,893) (140,537)
Purchase of FHLB and FRB stock (51,018) (61,435) (40,126) (92,758) (3,231)
Proceeds from sales of loans held for sale at lower of cost or fair value 0 201,681 109,454 126,898 (6)
Net increase in loans, net of participations sold (746,132) (518,832) (505,046) (358,652) (233,900)
Sale of other real estate owned 744 568 534 1,800 0
Purchase of premises and equipment (1,924) (3,218) (2,380) (1,059) (1,097)
Purchase of wealth management company (800) 0 (13,500) (3,500) (2,600)
Proceeds from death benefit 677 0 100 0 NA
Purchase of life insurance (10,000) NA NA NA NA
NET CASH USED IN INVESTING ACTIVITIES (625,427) (433,175) (435,514) (297,707) (210,763)

FINANCING ACTIVITIES

Net increase/(decrease) in deposits 636,777 476,367 286,517 196,986 166,016
Net increase in overnight borrowings (13,900) (40,700) 0 0 52,000
Proceeds from Federal Home Loan Bank long term advances NA 0 0 105,000 0
Proceeds from Federal Home Loan Bank short term advances NA NA NA NA 15,000
Repayments of Federal Home Loan Bank advances 0 (21,897) (23,897) (34,898) (3,000)
Dividends paid on common stock (3,100) (3,296) (3,548) (3,712) (2,913)
Exercise of Stock Options, net of stock swaps 86 1,069 690 275 23
Restricted stock repurchased on vesting to pay taxes (81) (554) (1,826) (1,540) (981)
Proceeds from issuance of subordinated debt 0 48,693 34,125 0 NA
Sales of common shares (Dividend Reinvestment Program) 13,648 22,461 36,588 16,677 0
Issuance of shares for employee's savings and investment plan 0 0 889 1,039 NA
Issuance of shares for employee stock purchase plan 644 637 797 958 532
Purchase of treasury shares NA NA NA NA (16,717)
NET CASH PROVIDED BY FINANCING ACTIVITIES 634,074 482,780 330,335 280,785 209,960
Net increase in cash and cash equivalents 38,953 92,531 (49,244) 47,326 66,340
Cash and cash equivalents at beginning of period 31,207 70,160 162,691 113,447 160,773
Cash and cash equivalents at end of period 70,160 162,691 113,447 160,773 227,113

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during the year for

Interest 13,726 19,965 26,506 42,768 44,497
Income tax, net 15,572 14,870 11,597 3,605 1,047
Transfer of loans to loans held for sale 286,519 182,694 0 137,317 NA
Transfer of loans held for sale to loan portfolio 0 30,121 0 0 NA
Transfer of loans to other real estate owned 233 534 2,090 0 336
Acquisition goodwill 1,010 0 15,534 7,310 9,400
Customer relationship & other intangibles 1,790 0 5,466 2,440 NA
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.