Financial Statements (As Reported)

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 57,486 57,786 68,051 82,414

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

Provision for loan and lease losses 2,160 5,833 8,980 19,462
Depreciation of premises and equipment 4,780 5,245 5,658 5,620
Depreciation of equipment owned and leased to others 18,280 21,678 25,215 26,248
Stock-based compensation 3,843 2,884 2,963 3,553
Amortization of investment securities premiums and accretion of discounts, net 4,652 5,861 5,449 3,477
Amortization of mortgage servicing rights 1,424 1,478 1,092 956
Deferred income taxes 1,620 2,856 2,767 (550)
Losses (gains) on investment securities available-for-sale (4) (1,796) (4,340) 345
Originations of loans held for sale, net of principal collected (113,029) (119,134) (101,104) (78,450)
Proceeds from the sales of loans held for sale 120,138 116,397 106,811 82,127
Net gains on sale of loans held for sale (3,330) (3,287) (2,981) (1,844)
Net gains on sale of other real estate and repossessions (814) (228) (251) (561)
Change in trading account securities 205 NA NA NA
Change in interest receivable (549) (1,326) (2,119) (1,747)
Change in interest payable 798 570 1,222 2,997
Change in other assets (8,230) 2,145 (1,434) (8,076)
Change in other liabilities 8,010 648 (3,268) 7,375
Other 3,168 450 4,550 1,028
Net change in operating activities 100,608 98,060 117,261 144,374

Investing activities

Proceeds from sales of investment securities available-for-sale 1,299 23,784 228,715 11,392
Proceeds from maturities and paydowns of investment securities available-for-sale 136,649 217,613 177,466 145,167
Purchases of investment securities available-for-sale (147,771) (313,074) (469,385) (255,205)
Proceeds from liquidation of partnership investments 423 2,903 128 1,868
Net change in other investments (1,172) (485) (3,495) (2,451)
Loans sold or participated to others 1,962 5,926 32,004 22,835
Net change in loans and leases (315,938) (209,668) (382,386) (355,504)
Net change in equipment owned under operating leases (54,508) (30,100) (46,003) (21,107)
Purchases of premises and equipment (9,498) (8,935) (5,444) (3,058)
Proceeds from sales of other real estate and repossessions 6,941 2,189 6,194 13,433
Net change in investing activities (381,613) (309,847) (462,206) (442,630)

Financing activities

Net change in demand deposits and savings accounts 173,508 278,666 205,649 171,799
Net change in time deposits 162,818 (84,092) 213,321 197,793
Net change in short-term borrowings (12,593) 58,714 (77,348) (15,251)
Proceeds from issuance of long-term debt 0 20,837 19,999 0
Payments on long-term debt (1,250) (6,429) (26,628) (1,735)
Stock issued under stock purchase plans 149 120 153 145
Acquisition of treasury stock (9,970) (8,030) (41) (9,271)
Contributions from noncontrolling interests NA 0 0 1,508
Cash dividends paid on common stock (18,126) (19,416) (20,431) (25,686)
Net change in financing activities 294,536 240,370 314,674 319,302
Net change in cash and cash equivalents 13,531 28,583 (30,271) 21,046
Cash and cash equivalents, beginning of year 66,190 79,721 108,304 78,033
Cash and cash equivalents, end of year 79,721 108,304 78,033 99,079

Supplemental Information

Non-cash transactions

Loans transferred to other real estate and repossessions 8,742 4,961 8,135 11,007
Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan 500 800 1,426 583
Stock dividend paid on common stock 90,003 NA NA NA

Cash paid for

Interest 17,364 21,531 25,531 40,413
Income taxes 30,429 19,866 10,567 8,272
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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