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As Reported Financial Statements

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 35,166 45,903 45,632 77,852 65,931

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

Net amortization on investment securities 729 503 245 97 (95)
Net accretion on loans and amortization of core deposit intangible and operating lease components (2,835) (2,573) (6,373) (3,540) (2,622)
Unrealized (gains) losses on equity securities with readily determinable fair value NA 0 0 122 (561)
Depreciation of premises and equipment 6,610 7,304 8,472 9,347 6,989
Amortization of mortgage servicing rights 1,400 1,757 1,504 1,432 1,275
Provision for loan and lease losses 5,396 14,493 27,704 31,368 24,844
Net gain on sale of mortgage loans held for sale (3,915) (6,656) (3,977) (3,839) (6,452)
Origination of mortgage loans held for sale (160,989) (216,812) (160,091) (176,916) (247,071)
Proceeds from sale of mortgage loans held for sale 167,209 214,760 169,969 177,545 229,755
Net gain on sale of consumer loans held for sale (978) (2,835) (5,647) (5,930) (3,869)
Origination of consumer loans held for sale (137,551) (380,066) (663,171) (778,476) (534,268)
Proceeds from sale of consumer loans held for sale 138,015 379,907 661,098 781,951 532,471
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) (487)
Writedowns of other real estate owned 1,257 270 155 0 NA
Impairment of premises held for sale 132 191 1,175 482 198
Deferred compensation expense - Class A Common Stock 223 170 191 645 457
Stock-based awards expense - Class A Common Stock 422 1,030 1,142 1,001 883
Increase in cash surrender value of bank owned life insurance (1,402) (1,516) (1,562) (1,527) (1,154)
Net change in other assets and liabilities
Accrued interest receivable (426) (659) (1,726) (1,860) 269
Accrued interest payable (33) (298) 152 (16) 1,278
Other assets (2,785) (7,227) 730 2,822 (6,011)
Other liabilities 5,473 540 2,850 7,368 (1,836)
Net cash provided by operating activities 50,046 47,672 77,777 119,199 59,924

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) (350,036)
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 1,427,696 452,247 158,056 220,798 259,569
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities 6,663 6,112 4,207 3,911 1,897
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 (504,893)
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) (163,133)
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 1,892
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) (9,102)
Net cash used in investing activities (358,208) (296,134) (287,113) (121,521) (763,981)

FINANCING ACTIVITIES

Net change in deposits 429,295 468,544 272,466 22,987 420,991
Net change in securities sold under agreements to repurchase and other short-term borrowings 39,325 (221,960) 30,548 (21,031) (15,041)
Payments of Federal Home Loan Bank advances (218,000) (292,000) (490,000) (457,500) (590,000)
Proceeds from Federal Home Loan Bank advances 210,000 395,000 425,000 530,000 950,000
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) (580)
Net proceeds from Class A Common Stock purchased through employee stock purchase plan NA 0 0 230 372
Net proceeds from Class A Common Stock options exercised 1,136 80 68 83 (174)
Cash dividends paid (15,839) (16,768) (17,656) (19,497) (15,913)
Net cash provided by financing activities 445,366 327,689 219,378 54,445 749,655
NET CHANGE IN CASH AND CASH EQUIVALENTS 137,204 79,227 10,042 52,123 45,598
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 210,082 289,309 299,351 351,474 397,072

SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION

Cash paid during the period for

Interest 18,495 18,219 20,106 30,139 33,348
Income taxes 17,942 26,069 28,779 11,119 11,506

SUPPLEMENTAL NONCASH DISCLOSURES

Transfers from loans to real estate acquired in settlement of loans 2,938 4,778 841 662 1,414
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 1,392 130,770
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 41,726
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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