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As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD

Cash flows from operating activities

Net income (84) 30,205 62,072 115,416 46,407

Adjustments to reconcile net income to net cash provided by (used in) operating activities

Provision for loan and lease losses 7,963 10,976 7,469 5,271 8,647
Provision for unfunded loan commitments NA NA NA NA 2,257
Reversal for loan repurchases 2,383 2,808 2,326 (3,352) (1,477)
Depreciation on premises and equipment 4,283 6,834 9,154 11,680 9,546
Amortization of intangible assets 2,651 4,079 5,836 4,851 3,062
Amortization of debt issuance cost 385 686 727 704 171
Stock option compensation expense 582 480 528 531 NA
Stock award compensation expense 2,311 5,838 8,598 11,398 NA
Change in fair value of converted stock options related to business acquisition 9 NA NA NA NA
Stock appreciation right compensation expense 1,072 1,889 202 18 NA
Net amortization (accretion) of premium and discount on securities 1,742 746 1,602 1,206 (1,553)
Net amortization of deferred loan fees and costs (248) (1,296) 512 (1) (917)
Accretion of discounts on purchased loans (20,304) (34,776) (30,933) (36,800) (4,502)
Deferred income tax (benefit) expense 7,573 (17,157) 7,279 5,613 (25,341)
Bank owned life insurance income (177) (224) (1,076) (2,341) (1,780)
Share-based compensation expense NA NA NA NA 9,912
Loss on investments in alternative energy partnerships NA 0 0 31,510 26,791
Impairment on intangible assets 1,061 48 258 690 336
Impairment on capitalized software projects NA 0 0 595 NA
Debt redemption costs NA 0 0 2,737 0
Net revenue on mortgage banking activities (67,890) (95,430) (144,685) (167,024) (43,083)
Net gain on sale of loans (8,700) (19,828) (37,211) (35,895) (10,737)
Net gain on sale of securities available for sale (331) (1,183) (3,258) (29,405) (12,080)
Loss from change of fair value on mortgage servicing rights (298) 1,564 8,765 17,729 10,346
Increase in valuation allowances on other real estate owned 97 32 38 31 NA
Loss on sale or disposal of property and equipment 0 942 80 122 894
Net gain on disposal of discontinued operations NA NA NA NA (13,749)
Gain on sale of mortgage servicing rights 0 (2,318) 0 (2) NA
Loss (gain) on sale of other real estate owned (464) (66) (23) 96 NA
Gain on sale of building 0 0 (9,919) 0 NA
Gain on sale of branches (12,104) (456) (163) 0 NA
Gain on sale of subsidiary NA 0 0 (3,694) 0
Gain on sale of business unit NA 0 0 (2,629) NA
Repurchase of mortgage loans 0 (3,343) (19,387) (40,822) (27,261)
Originations of loans held-for-sale from mortgage banking (1,942,622) (2,822,406) (4,388,042) (5,135,046) (1,533,889)
Originations of other loans held-for-sale (441,969) (1,439,700) (803,936) (614,596) (92,393)
Proceeds from sales of and principal collected on loans held-for-sale from mortgage banking 1,916,746 2,838,771 4,406,924 5,271,093 1,962,308
Proceeds from sales of and principal collected on other loans held-for-sale 107,222 923,494 882,288 615,437 290,236
Change in accrued interest receivable and other assets (5,865) (4,247) (7,687) (14,274) 4,929
Change in other assets 4,140 (5,875) (15,935) (29,051) NA
Change in accrued interest payable and other liabilities 5,347 (8,603) 12,354 31,881 (96,259)
Net cash provided by (used in) operating activities (435,489) (627,516) (45,243) 13,677 510,821

Cash flows from investing activities

Proceeds from sales of securities available-for-sale 127,298 111,764 989,786 4,096,453 937,173
Proceeds from maturities and calls of securities available-for-sale 12,606 1,231 687 51,550 262,378
Proceeds from principal repayments of securities available-for-sale 98,287 41,142 109,026 95,556 33,272
Proceeds from maturities and calls of securities held-to-maturity NA 0 0 78,050 143,505
Purchases of securities held-to-maturity 0 0 (962,052) 0 NA
Purchases of bank owned life insurance 0 0 (80,000) 0 NA
Net cash used in acquisitions 5,644 (23,409) 0 0 NA
Net cash used in branch sale (448,891) 0 (46,731) 0 NA
Purchases of securities available-for-sale (71,129) (327,069) (1,591,883) (5,723,578) (769,290)
Net cash provided by disposal of discontinued operations NA NA NA NA 56,076
Proceeds from sale of subsidiary NA 0 0 259 0
Proceeds from sale of business unit NA 0 0 246,957 NA
Loan and lease originations and principal collections, net (385,272) (376,771) (501,927) (1,778,994) (694,581)
Purchase of loans and leases (857,733) (38,572) (705,709) (182,231) 0
Redemption of Federal Home Loan Bank stock 25 559 18,459 38,988 18,738
Purchase of Federal Home Loan Bank and other bank stock (13,783) (20,200) (35,287) (47,798) (17,959)
Proceeds from sale of loans 276,516 161,638 575,477 930,342 604,538
Net change in time deposits in financial institutions 3,181 (54) 400 500 NA
Proceeds from sale of other real estate owned 5,123 264 909 1,737 1,652
Proceeds from sale of mortgage servicing rights 0 18,808 5,862 5 0
Proceeds from sale of premises and equipment 0 79 50,639 28 2,184
Additions to premises and equipment (54,965) (11,663) (83,259) (44,683) (13,093)
Payments of capital lease obligations (389) (901) (947) (954) (764)
Funding of equity investment NA 0 0 (23,324) (24,506)
Investments in alternative energy partnerships NA 0 0 (57,149) (45,926)
Net cash provided by (used in) investing activities (1,303,482) (463,154) (2,256,550) (2,318,286) 493,397

Cash flows from financing activities

Net (decrease) increase in deposits 1,514,930 676,372 1,677,855 2,839,065 (1,738,557)
Net increase (decrease) in short-term Federal Home Loan Bank advances 133,167 143,000 362,000 (390,000) 980,000
Repayment of long-term Federal Home Loan Bank advances 0 (10,000) (465,000) (50,000) (100,000)
Proceeds from long-term Federal Home Loan Bank advances 0 250,000 400,000 0 100,000
Net increase in securities sold under repurchase agreements NA NA NA NA 36,520
Net (decrease) increase in other borrowings NA 0 0 68,000 (68,000)
Net proceeds from issuance of common stock 67,792 103,656 0 175,078 0
Net proceeds from issuance of preferred stock 37,943 0 110,873 120,255 0
Net proceeds from issuance of long term debt 0 0 172,304 0 NA
Net proceeds from issuance of tangible equity units 0 64,959 0 0 NA
Redemption of preferred stock NA 0 0 (42,000) 0
Payment of amortizing debt 0 (2,157) (4,715) (5,078) (2,684)
Redemption of long term debt NA 0 0 (84,750) 0
Purchase of treasury stock (5,005) (280) 0 0 NA
Proceeds from exercise of stock options 540 993 501 0 1,963
Cash settlement of stock options NA 0 0 (359) 0
Restricted stock surrendered due to employee tax liability NA NA NA NA (6,022)
Dividend equivalents paid on stock appreciation rights 0 (471) (699) (742) (607)
Dividends paid on preferred stock (2,185) (3,652) (9,446) (19,630) (15,338)
Dividends paid on common stock (6,736) (10,669) (16,955) (21,844) (19,177)
Net cash (used in) provided by financing activities 1,740,446 1,211,751 2,226,718 2,587,995 (831,902)
Net change in cash and cash equivalents 1,475 121,081 (75,075) 283,386 172,316
Cash and cash equivalents at beginning of period 108,643 110,118 231,199 156,124 439,510
Cash and cash equivalents at end of period 110,118 231,199 156,124 439,510 611,826

Supplemental cash flow information

Interest paid on deposits and borrowed funds 23,277 32,592 44,810 59,380 57,066
Income taxes paid 0 9,855 33,429 42,377 8,940
Income taxes refunds received 0 263 19 1 14,070

Supplemental disclosure of non-cash activities

Transfer from loans to other real estate owned, net 0 653 1,598 3,269 3,068
Transfer of loans held-for-investment to loans held-for-sale 181,360 66,334 0 191,666 592,998
Transfer of loans held-for-sale to loans held-for-investment 0 117,116 482,851 7,115 88,591
Reclassification of securities held-to-maturity to securities available-for-sale NA NA NA NA 740,863
Equipment acquired under capital leases 2,675 1,313 112 16 70
Conversion of stock appreciation rights to stock options 1,433 NA NA NA NA
Due on unsettled securities purchases NA NA NA NA 54,500
Recognition of sold loans that are subject to repurchase option NA NA NA NA 42,141
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.