Investor Relations

Cash Flow Statement

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 2014 Y2015 Y2016 Y2017 Y2018 Q1 YTD
Source Document12/31/201612/31/201712/31/201712/31/20173/31/2018
(in thousands)     
Cash flows from operating activities 
Net income 73,63183,72287,80293,94927,913
Adjustments to reconcile net income to net cash provided by operating activities 
Depreciation and amortization of intangibles 11,13313,71412,76011,6232,598
Provision for loan losses 4,6504,3505,4005,6005,400
Deferred tax expense 3,6663263,16040,6342,015
Increase in cash surrender value of Bank-owned Life Insurance (5,633)NANANANA
Income on Bank-owned life insurance NA(5,345)(5,470)(6,693)(1,264)
Net amortization of premiums and discounts on securities 10,46110,61310,8319,9482,279
Accretion of net deferred loan fees (3,364)(4,624)(3,408)(4,655)(1,286)
Amortization of premiums on purchased loans, net 6941,1001,3111,021200
Net increase in loans originated for sale (12,609)(11,918)(34,976)(24,938)(4,117)
Proceeds from sales of loans originated for sale 14,01812,79937,00826,3874,528
Proceeds from sales and paydowns of foreclosed assets 6,4944,4436,1095,423466
ESOP expense 2,6542,9973,7064,6001,085
Allocation of stock award shares 6,3594,6253,8124,9631,025
Allocation of stock options 29827217220345
Excess tax benefits related to stock-based compensation 0NANANANA
Net gain on sale of loans (1,409)(881)(2,032)(1,449)(411)
Net gain on securities transactions (251)(654)(64)(57)(1)
Net gain on sale of premises and equipment (5)(4)(14)(20)NA
Net gain on sale of foreclosed assets (516)(592)(585)(819)(181)
(Increase) decrease in accrued interest receivable 787(538)(1,316)(2,564)(924)
Decrease in other assets (17,105)(4,912)5,873(52,078)1,146
Decrease in other liabilities 7,7215,373(2,770)6,142(8,309)
Net cash provided by operating activities 101,674114,866127,309117,22032,207
Cash flows from investing activities 
Proceeds from maturities, calls and paydowns of held to maturity debt securities 41,05737,27162,97555,72021,934
Purchases of held to maturity debt securities (73,397)(44,254)(80,349)(47,894)(11,881)
Proceeds from sales of securities 25,03314,0053,4010NA
Proceeds from maturities and paydowns of available for sale debt securities 207,531212,095211,440220,13855,279
Purchases of available for sale debt securities (63,835)(129,720)(306,151)(228,363)(72,154)
Proceeds from redemption of Federal Home Loan Bank stock 84,98887,51056,505130,12539,929
Purchases of Federal Home Loan Bank stock (90,262)(95,902)(54,050)(135,583)(33,342)
Net cash and cash equivalents paid in acquisition 68,650(25,855)00NA
BOLI benefits paid 0NANANANA
Death benefit proceeds from bank-owned life insurance NA77604,428NA
Purchases of loans (130,540)(95,283)(28,590)0NA
Net decrease in loans (129,240)(363,436)(440,999)(322,443)34,994
Proceeds from sales of premises and equipment 1,903191420,766NA
Purchases of premises and equipment (16,441)(5,909)(4,995)(3,231)(502)
Net cash provided by (used in) investing activities (74,553)(408,683)(580,799)(306,337)34,257
Cash flows from financing activities 
Net increase (decrease) in deposits (179,886)131,464629,642160,53742,417
Increase in mortgage escrow deposits 1,2501,6961,1071,4811,061
Cash dividends paid to stockholders (36,118)(41,285)(45,369)(59,980)(13,638)
Shares issued through the dividend reinvestment plan 1,3361,4471,6522,114419
Purchases of treasury stock (3,547)0(1,557)(443)0
Purchase of employee restricted shares to fund statutory tax withholding (873)(1,988)(1,225)(778)(1,792)
Stock options exercised 1173,1666,1982,954175
Proceeds from long-term borrowings 595,063694,937355,000347,000265,000
Payments on long-term borrowings (289,757)(549,935)(485,202)(539,745)(135,810)
Net (decrease) increase in short-term borrowings (112,168)52,77935,315322,514(281,616)
Net cash used in financing activities (24,583)292,281495,561235,654(123,784)
Net (decrease) increase in cash and cash equivalents 2,538(1,536)42,07146,537(57,320)
Cash and cash equivalents at beginning of period 101,224103,762102,226144,297190,834
Cash and cash equivalents at end of period 103,762102,226144,297190,834133,514
Cash paid during the period for 
Interest on deposits and borrowings 39,95241,66344,00446,39112,972
Income taxes 25,77640,62033,88640,5663,619
Non-cash investing activities 
Transfer of loans receivable to foreclosed assets 5,38210,0743,6313,845673
Non-cash assets acquired 
Investment securities available for sale 157,635NANANANA
Loans 631,209NANANANA
Bank-owned life insurance 22,319NANANANA
Goodwill and other intangible assets, net 50,22225,32300NA
Other assets 33,9391,27000NA
Total non-cash assets acquired 895,32426,59300NA
Liabilities assumed 
Deposits 769,936NANANANA
Borrowings 112,835NANANANA
Other Liabilities (2,314)40000NA
Total liabilities assumed 880,45740000NA
Common stock issued for acquisitions 83,517000NA

Data shown on this page is extracted directly from the company’s documents. SNL 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, SNL, as always, stands by its commitment to the quality of the data.

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