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 Q1 YTD 3/31/2017 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 Q1 YTD 3/31/2017 USD

Cash flows from operating activities

Net income (84) 30,205 62,072 115,416 17,201

Adjustments to reconcile net income to net cash used in operating activities

Provision for loan and lease losses 7,963 10,976 7,469 5,271 2,583
Reversal for loan repurchases 2,383 2,808 2,326 (3,352) (325)
Net revenue on mortgage banking activities (67,890) (95,430) (144,685) (167,024) (29,434)
Net gain on sale of loans (8,700) (19,828) (37,211) (35,895) (4,019)
Net amortization of premiums and discounts on securities 1,742 746 1,602 1,206 218
Depreciation on premises and equipment 4,283 6,834 9,154 11,680 3,324
Amortization of intangibles 2,651 4,079 5,836 4,851 1,090
Amortization of debt issuance cost 385 686 727 704 42
Stock option compensation expense 582 480 528 531 247
Stock award compensation expense 2,311 5,838 8,598 11,398 2,604
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 42
Bank owned life insurance income (177) (224) (1,076) (2,341) (581)
Impairment on intangible assets 1,061 48 258 690 336
Impairment on capitalized software projects NA 0 0 595 NA
Debt extinguishment costs NA 0 0 2,737 NA
Net gain on sale of securities available-for-sale (331) (1,183) (3,258) (29,405) (3,356)
Net gain on disposal of discontinued operations NA NA NA NA (13,302)
Gain on sale of mortgage servicing rights 0 (2,318) 0 (2) 0
Loss (gain) on sale of other real estate owned (464) (66) (23) 96 5
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) NA
Gain on sale of business unit NA 0 0 (2,629) NA
Loss on investments in alternative energy partnerships, net NA 0 0 31,510 8,682
Deferred income tax expense 7,573 (17,157) 7,279 5,613 (8,214)
Loss on sale or disposal of property and equipment 0 942 80 122 255
Loss from change of fair value and runoff on mortgage servicing rights (298) 1,564 8,765 17,729 1,903
Increase in valuation allowances on other real estate owned 97 32 38 31 3
Repurchase of mortgage loans 0 (3,343) (19,387) (40,822) (13,630)
Originations of loans held-for-sale from mortgage banking (1,942,622) (2,822,406) (4,388,042) (5,135,046) (935,428)
Originations of other loans held-for-sale (441,969) (1,439,700) (803,936) (614,596) (63,101)
Proceeds from sales of and principal collected on loans held-for-sale from mortgage banking 1,916,746 2,838,771 4,406,924 5,271,093 958,529
Proceeds from sales of and principal collected on other loans held-for-sale 107,222 923,494 882,288 615,437 127,629
Change in deferred loan fees (248) (1,296) 512 (1) (708)
Net amortization of premiums and discounts on purchased loans (20,304) (34,776) (30,933) (36,800) (2,070)
Change in accrued interest receivable (5,865) (4,247) (7,687) (14,274) 1,331
Change in other assets 4,140 (5,875) (15,935) (29,051) (13,875)
Change in accrued interest payable and other liabilities 5,347 (8,603) 12,354 31,881 (53,972)
Net cash used in operating activities (435,489) (627,516) (45,243) 13,677 (15,991)

Cash flows from investing activities

Proceeds from sales of securities available-for-sale 127,298 111,764 989,786 4,096,453 378,539
Proceeds from maturities and calls of securities available-for-sale 12,606 1,231 687 51,550 32,465
Proceeds from principal repayments of securities available-for-sale 98,287 41,142 109,026 95,556 10,746
Proceeds from maturities and calls of securities held-to-maturity NA 0 0 78,050 21,020
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
Proceeds from sale of subsidiary NA 0 0 259 NA
Proceeds from sale of business unit NA 0 0 246,957 NA
Purchases of securities available-for-sale (71,129) (327,069) (1,591,883) (5,723,578) (472,850)
Net cash provided by disposal of discontinued operations NA NA NA NA 55,629
Loan and lease originations and principal collections, net (385,272) (376,771) (501,927) (1,778,994) (309,961)
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 4,813
Purchase of Federal Home Loan Bank and other bank stock (13,783) (20,200) (35,287) (47,798) (209)
Proceeds from sale of loans 276,516 161,638 575,477 930,342 249,695
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 1,737 320
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 28 172
Additions to premises and equipment (54,965) (11,663) (83,259) (44,683) (10,317)
Funding of equity investment NA 0 0 (23,324) NA
Payments of capital lease obligations (389) (901) (947) (954) (271)
Investments in alternative energy partnerships NA 0 0 (57,149) (30,927)
Net cash used in investing activities (1,303,482) (463,154) (2,256,550) (2,318,286) (71,136)

Cash flows from financing activities

Net (decrease) increase in deposits 1,514,930 676,372 1,677,855 2,839,065 (544,457)
Net increase in short-term Federal Home Loan Bank advances 133,167 143,000 362,000 (390,000) 540,000
Repayment of long-term Federal Home Loan Bank advances 0 (10,000) (465,000) (50,000) (50,000)
Proceeds from long-term Federal Home Loan Bank advances 0 250,000 400,000 0 100,000
Net increase in other borrowings NA 0 0 68,000 NA
Net increase in securities sold under repurchase agreements NA NA NA NA 26,320
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
Repayment of preferred stock NA 0 0 (42,000) NA
Payment of amortizing debt 0 (2,157) (4,715) (5,078) (1,330)
Repayment of Senior Note NA 0 0 (84,750) NA
Purchase of treasury stock (5,005) (280) 0 0 NA
Cash settlements of stock options NA 0 0 (359) NA
Proceeds from exercise of stock options 540 993 501 0 NA
Restricted stock surrendered due to employee tax liability NA NA NA NA (2,135)
Dividend equivalents paid on stock appreciation rights 0 (471) (699) (742) (202)
Dividends paid on preferred stock (2,185) (3,652) (9,446) (19,630) (5,113)
Dividends paid on common stock (6,736) (10,669) (16,955) (21,844) (6,185)
Net cash provided by financing activities 1,740,446 1,211,751 2,226,718 2,587,995 56,898
Net change in cash and cash equivalents 1,475 121,081 (75,075) 283,386 (30,229)
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 110,118 231,199 156,124 439,510 409,281

Supplemental cash flow information

Interest paid on deposits and borrowed funds 23,277 32,592 44,810 59,380 15,888
Income taxes paid 0 9,855 33,429 42,377 6,574
Income taxes refunds received 0 263 19 1 0

Supplemental disclosure of non-cash activities

Transfer from loans to other real estate owned, net 0 653 1,598 3,269 1,171
Transfer of loans held-for-investment to loans held-for-sale, net of transfer 181,360 66,334 0 191,666 242,288
Transfer of loans held-for-sale to loans held-for-investment 0 117,116 482,851 7,115 0
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
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.