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 2019 Q1 YTD 3/31/2019 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 2019 Q1 YTD 3/31/2019 USD

Operating activities

Net income $57,486 $57,786 $68,051 $82,414 $22,196

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 $4,918
Depreciation of premises and equipment $4,780 $5,245 $5,658 $5,620 $1,466
Depreciation of equipment owned and leased to others $18,280 $21,678 $25,215 $26,248 $6,524
Stock-based compensation $3,843 $2,884 $2,963 $3,553 $673
Amortization of investment securities premiums and accretion of discounts, net $4,652 $5,861 $5,449 $3,477 $824
Amortization of mortgage servicing rights $1,424 $1,478 $1,092 $956 $233
Deferred income taxes $1,620 $2,856 $2,767 ($550) $444
Losses on investment securities available-for-sale ($4) ($1,796) ($4,340) $345 0
Originations of loans held for sale, net of principal collected ($113,029) ($119,134) ($101,104) ($78,450) ($19,966)
Proceeds from the sales of loans held for sale $120,138 $116,397 $106,811 $82,127 $22,534
Net gain on sale of loans held for sale ($3,330) ($3,287) ($2,981) ($1,844) ($488)
Net gain on sale of other real estate and repossessions ($814) ($228) ($251) ($561) ($167)
Change in trading account securities $205 NA NA NA NA
Net (gain) loss on sale of premises and equipment NA NA NA NA ($1,288)
Change in interest receivable ($549) ($1,326) ($2,119) ($1,747) ($2,696)
Change in interest payable $798 $570 $1,222 $2,997 $2,427
Change in other assets ($8,230) $2,145 ($1,434) ($8,076) $1,808
Change in other liabilities $8,010 $648 ($3,268) $7,375 ($7,814)
Other $3,168 $450 $4,550 $1,028 $598
Net change in operating activities $100,608 $98,060 $117,261 $144,374 $32,226

Investing activities

Proceeds from sales of investment securities available-for-sale $1,299 $23,784 $228,715 $11,392 0
Proceeds from maturities and paydowns of investment securities available-for-sale $136,649 $217,613 $177,466 $145,167 $28,840
Purchases of investment securities available-for-sale ($147,771) ($313,074) ($469,385) ($255,205) ($33,072)
Proceeds from liquidation of partnership investment $423 $2,903 $128 $1,868 0
Net change in other investments ($1,172) ($485) ($3,495) ($2,451) 0
Loans sold or participated to others $1,962 $5,926 $32,004 $22,835 $2,862
Net change in loans and leases ($315,938) ($209,668) ($382,386) ($355,504) ($106,059)
Net change in equipment owned under operating leases ($54,508) ($30,100) ($46,003) ($21,107) ($3,678)
Purchases of premises and equipment ($9,498) ($8,935) ($5,444) ($3,058) ($2,821)
Proceeds from disposal of premises and equipment NA NA NA NA $3,426
Proceeds from sales of other real estate and repossessions $6,941 $2,189 $6,194 $13,433 $4,044
Net change in investing activities ($381,613) ($309,847) ($462,206) ($442,630) ($106,458)

Financing activities

Net change in demand deposits and savings accounts $173,508 $278,666 $205,649 $171,799 ($95,505)
Net change in time deposits $162,818 ($84,092) $213,321 $197,793 $97,274
Net change in short-term borrowings ($12,593) $58,714 ($77,348) ($15,251) $56,044
Proceeds from issuance of long-term debt 0 $20,837 $19,999 0 NA
Payments on long-term debt ($1,250) ($6,429) ($26,628) ($1,735) ($1,718)
Stock issued under stock purchase plans $149 $120 $153 $145 NA
Acquisition of treasury stock ($9,970) ($8,030) ($41) ($9,271) ($7,258)
Contributions from noncontrolling interests NA 0 0 $1,508 $1,171
Cash dividends paid on common stock ($18,126) ($19,416) ($20,431) ($25,686) ($7,174)
Net change in financing activities $294,536 $240,370 $314,674 $319,302 $42,834
Net change in cash and cash equivalents $13,531 $28,583 ($30,271) $21,046 ($31,398)
Cash and cash equivalents, beginning of year $66,190 $79,721 $108,304 $78,033 $99,079
Cash and cash equivalents, end of period $79,721 $108,304 $78,033 $99,079 $67,681

Supplemental Information

Non-cash transactions

Loans transferred to other real estate and repossessed assets $8,742 $4,961 $8,135 $11,007 $8,939
Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan $500 $800 $1,426 $583 $300
Stock dividend paid on common stock $90,003 NA NA NA NA
Right of use assets obtained in exchange for lease obligations NA NA NA NA $1,058

Cash paid for

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