As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD

Operating activities

Net income 65,000 75,063 88,526 96,787 117,581

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

Provision for loan and lease losses 1,528 9,641 10,140 3,582 9,276
Depreciation and amortization 12,785 13,266 13,037 12,645 17,326
Stock-based compensation expense 3,970 4,049 5,354 5,446 4,985
Pension expense (income) (1,137) (1,042) (1,153) (628) 521
Net amortization (accretion) on investment securities 7,379 7,899 8,476 10,798 8,209
Net (gain) loss on sales of investment securities (70) (1,505) (234) (1,649) 197
Originations of loans held for sale (145,377) (246,845) (232,526) (157,796) (113,142)
Net gains from sales of loans held for sale (4,364) (6,471) (6,804) (5,169) (4,643)
Proceeds from sales of loans held for sale 144,803 242,029 246,829 163,300 112,904
Deferred income taxes (22,405) 4,192 346 (4,488) (349)
Decrease (increase) cash surrender value of life insurance (4,255) (5,379) (186) (3,792) (4,484)
Decrease (increase) in interest receivable (1,903) (995) (1,456) (5,707) (4,264)
Decrease (increase) in indemnification asset 22,425 5,036 5,613 10,117 1,900
(Decrease) increase in interest payable 30 2,296 46 55 3,597
Decrease (increase) in other assets (8,156) (33,370) (5,347) (23,808) (25)
(Decrease) increase in other liabilities (13,599) 23,703 7,700 21,478 24,990
Net cash provided by (used in) operating activities 56,654 91,567 138,361 121,171 174,579

Investing activities

Proceeds from sales of securities available-for-sale 166,356 70,219 206,990 189,962 259,518
Proceeds from calls, paydowns and maturities of securities available-for-sale 101,420 120,953 186,132 224,690 271,597
Purchases of securities available-for-sale (147,854) (547,901) (396,984) (723,131) (566,528)
Proceeds from sales of securities held-to-maturity 0 0 4,862 0 NA
Proceeds from calls, paydowns and maturities of securities held-to-maturity 105,623 140,059 127,021 121,903 31,964
Purchases of securities held-to-maturity (140,426) (3,520) (11,196) (23,402) (14,014)
Net decrease (increase) in interest-bearing deposits with other banks 3,200 (11,104) (48,716) 48,476 4,985
Net decrease (increase) in loans and leases (226,558) (390,312) (376,848) (266,043) (45,783)
Proceeds from disposal of other real estate owned 30,570 15,817 9,356 6,983 3,138
Purchases of premises and equipment (10,609) (7,467) (9,726) (6,537) (15,544)
Net cash acquired from business combinations 34,300 (305,591) 0 0 64,941
Net cash paid for branch divestitures NA NA NA NA (41,197)
Net cash provided by (used in) investing activities (83,978) (918,847) (309,109) (427,099) (46,923)

Financing activities

Net (decrease) increase in total deposits 249,630 523,882 346,164 369,258 (406,450)
Net (decrease) increase in short-term borrowings (162,248) 277,033 (130,513) 6,653 284,092
Payments on long-term debt (33,220) (46,238) (86) (94) (52,274)
Proceeds from issuance of long-term debt 0 120,000 0 0 NA
Proceeds from FHLB borrowings NA NA NA NA 150,000
Cash dividends paid on common stock (34,848) (39,070) (39,125) (41,178) (60,670)
Purchases of treasury stock (697) (4,498) 0 0 NA
Proceeds from exercise of stock options 1,056 744 801 341 284
Excess tax benefit on share-based compensation 153 146 264 0 NA
Net cash provided by (used in) financing activities 19,826 831,999 177,505 334,980 (85,018)

Cash and due from banks

Change in cash and due from banks (7,498) 4,719 6,757 29,052 42,638
Cash and due from banks at beginning of period 117,620 110,122 114,841 121,598 150,650
Cash and due from banks at end of period 110,122 114,841 121,598 150,650 193,288

Supplemental schedule for investing activities

Business combinations

Assets acquired, net of purchase consideration NA NA NA NA 3,341,999
Liabilities assumed NA NA NA NA 4,018,948
Goodwill NA NA NA NA 676,949

Supplemental disclosures

Interest paid 18,154 20,961 33,233 49,474 NA
Income taxes paid 61,180 31,193 37,566 38,329 NA
Acquisition of other real estate owned through foreclosure 10,537 8,398 2,872 4,119 NA
Issuance of restricted stock awards 4,601 7,760 5,759 6,416 NA
Common stock issued in bank acquisitions 60,429 NA NA NA NA
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