As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Operating activities

Net income 75,063 88,526 96,787 172,595

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

Provision for loan and lease losses 9,641 10,140 3,582 14,586
Depreciation and amortization 13,266 13,037 12,645 24,171
Stock-based compensation expense 4,049 5,354 5,446 6,219
Pension expense (income) (1,042) (1,153) (628) 859
Net amortization (accretion) on investment securities 7,899 8,476 10,798 10,846
Net (gains) losses on sales of investments securities (1,505) (234) (1,649) 161
Originations of loans held for sale (246,845) (232,526) (157,796) (157,771)
Net (gains) losses on sales of loans held for sale (6,471) (6,804) (5,169) (6,071)
Proceeds from sales of loans held for sale 242,029 246,829 163,300 167,374
Deferred income taxes 4,192 346 (4,488) 6,267
Decrease (increase) cash surrender value of life insurance (5,379) (186) (3,792) (5,454)
Decrease (increase) in interest receivable (995) (1,456) (5,707) (3,808)
Decrease in indemnification asset 5,036 5,613 10,117 1,900
(Decrease) increase in interest payable 2,296 46 55 5,207
Decrease (increase) in other assets (33,370) (1,108) (21,455) 34,360
(Decrease) increase in other liabilities 23,703 7,700 21,478 (10,043)
Net cash provided by (used in) operating activities 91,567 142,600 123,524 261,398

Investing activities

Proceeds from sales of investment securities available-for-sale 70,219 206,990 189,962 290,745
Proceeds from calls, paydowns and maturities of securities available-for-sale 120,953 186,132 224,690 387,351
Purchases of securities available-for-sale (547,901) (396,984) (723,131) (852,131)
Proceeds from sales of securities held-to-maturity 0 4,862 0 0
Proceeds from calls, paydowns and maturities of securities held-to-maturity 140,059 127,021 121,903 36,671
Purchases of securities held-to-maturity (3,520) (11,196) (23,402) (14,014)
Purchases of other investment securities NA (4,239) (2,353) (31,385)
Net decrease (increase) in interest-bearing deposits with other banks (11,104) (48,716) 48,476 (3,764)
Net decrease (increase) in loans and leases (390,312) (376,848) (266,043) (28,577)
Proceeds from disposal of other real estate owned 15,817 9,356 6,983 3,797
Purchases of premises and equipment (7,467) (9,726) (6,537) (18,228)
Net cash acquired from business combinations (305,591) 0 0 64,895
Net cash paid for branch divestitures NA 0 0 (41,197)
Net cash provided by (used in) investing activities (918,847) (313,348) (429,452) (205,837)

Financing activities

Net (decrease) increase in total deposits 523,882 346,164 369,258 (18,690)
Net (decrease) increase in short-term borrowings 277,033 (130,513) 6,653 30,531
Payments on long-term borrowings (46,238) (86) (94) (52,460)
Proceeds from issuance of long-term debt 120,000 NA NA NA
Proceeds from FHLB borrowings NA 0 0 150,000
Cash dividends paid on common stock (39,070) (39,125) (41,178) (79,655)
Purchases of treasury stock (4,498) NA NA NA
Proceeds from exercise of stock options 744 801 341 284
Excess tax benefit on share-based compensation 146 264 0 0
Net cash provided by (used in) financing activities 831,999 177,505 334,980 30,010

Cash and due from banks

Net (decrease) increase in Cash and due from banks 4,719 6,757 29,052 85,571
Cash and due from banks at beginning of year 110,122 114,841 121,598 150,650
Cash and due from banks at end of year 114,841 121,598 150,650 236,221

Supplemental disclosures

Interest paid 20,961 33,233 49,474 84,125
Income taxes paid 31,193 37,566 38,329 16,004
Acquisition of other real estate owned through foreclosure 8,398 2,872 4,119 1,821
Issuance of restricted stock awards 7,760 5,759 6,416 8,797
Securities transferred from AFS to HTM NA 0 0 372,128
Common stock issued in bank acquisitions NA 0 0 1,043,424

Supplemental schedule for investing activities

Business combinations

Assets acquired, net of purchase consideration NA 0 0 3,342,781
Liabilities assumed NA 0 0 4,018,948
Goodwill NA 0 0 676,167
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.