|
Consolidated Statements Of Cash Flows (USD $)
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Operating activities: |
|
|
|
| Net income |
$ 21,030,000 |
$ 17,435,000 |
$ 16,187,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Provision for loan losses |
(6,624,000) |
(7,209,000) |
3,107,000 |
| Adjustments to other real estate |
576,000 |
2,222,000 |
5,089,000 |
| Deferred tax expense |
9,180,000 |
10,220,000 |
8,939,000 |
| Asset depreciation |
2,829,000 |
2,450,000 |
2,460,000 |
| Securities premium amortization, net of discount accretion |
2,624,000 |
3,454,000 |
3,308,000 |
| Amortization of intangibles |
780,000 |
1,315,000 |
1,609,000 |
| Goodwill impairment |
0 |
0 |
0 |
| Restricted stock amortization expense |
210,000 |
742,000 |
115,000 |
| Net gain on sales/calls of investment securities |
(1,884,000) |
|
(837,000) |
| Net gain on sales of mortgage loans |
(1,549,000) |
(2,649,000) |
(3,133,000) |
| Net (gain) loss on sales of premises/equipment |
19,000 |
195,000 |
(2,000) |
| Net gain on sales of other real estate |
(200,000) |
(3,897,000) |
(301,000) |
| Net gain from sale of bank branches |
(4,378,000) |
|
|
| Proceeds from sales of held for sale loans |
83,258,000 |
121,020,000 |
150,621,000 |
| Held for sale loans originated for resale |
(75,887,000) |
(129,699,000) |
(148,479,000) |
| Net changes in assets and liabilities: |
|
|
|
| Accrued interest receivable |
311,000 |
1,030,000 |
811,000 |
| Other assets |
(3,569,000) |
5,969,000 |
1,847,000 |
| Income taxes receivable / payable |
(583,000) |
24,618,000 |
4,074,000 |
| Excess tax expense from share-based payment arrangements |
(2,000) |
(15,000) |
67,000 |
| Accrued interest payable |
(76,000) |
(284,000) |
(2,573,000) |
| Other liabilities |
638,000 |
(1,678,000) |
2,225,000 |
| Net cash provided by operating activities |
26,703,000 |
45,239,000 |
45,134,000 |
| Investing activities: |
|
|
|
| Proceeds from sales of available for sale securities |
1,419,000 |
2,744,000 |
6,588,000 |
| Held to maturity securities |
2,250,000 |
5,000,000 |
2,375,000 |
| Available for sale securities |
79,282,000 |
108,498,000 |
88,109,000 |
| Proceeds from sales of other investments |
|
|
1,865,000 |
| Redemptions of other investments |
696,000 |
391,000 |
179,000 |
| Purchases of held to maturity securities |
(1,725,000) |
(5,250,000) |
|
| Purchases of available for sale securities |
(51,344,000) |
(140,473,000) |
(202,273,000) |
| Loans originated, net of principal repayments |
(166,971,000) |
113,588,000 |
382,669,000 |
| Cash outflows from sale of bank branches, net |
(94,806,000) |
|
|
| Purchases of premises and equipment |
(2,096,000) |
(1,855,000) |
(1,619,000) |
| Proceeds from sales of premises and equipment |
99,000 |
68,000 |
170,000 |
| Proceeds from sales of other real estate |
1,401,000 |
16,645,000 |
7,261,000 |
| Net cash provided by (used in) investing activities |
(231,795,000) |
99,356,000 |
285,324,000 |
| Financing activities: |
|
|
|
| Net increase (decrease) in deposits |
80,488,000 |
(125,492,000) |
(211,804,000) |
| Net increase (decrease) in other borrowings |
(1,253,000) |
10,270,000 |
13,883,000 |
| Net proceeds from issuance of common stock |
385,000 |
229,000 |
127,000 |
| Repurchase of common stock warrant |
|
(2,287,000) |
|
| Purchases of treasury stock |
(10,302,000) |
|
|
| Redemptions of preferred stock |
|
|
(70,000,000) |
| Redemption of trust preferred securities |
|
(35,570,000) |
|
| Excess tax expense from share-based payment arrangements |
2,000 |
15,000 |
(67,000) |
| Preferred stock dividends paid |
|
|
(4,407,000) |
| Common stock dividends paid |
(3,131,000) |
|
|
| Net cash used in financing activities |
66,189,000 |
(152,835,000) |
(272,268,000) |
| Net increase (decrease) in cash and cash equivalents |
(138,903,000) |
(8,240,000) |
58,190,000 |
| Cash and cash equivalents: |
|
|
|
| Beginning of period |
279,839,000 |
288,079,000 |
229,889,000 |
| End of period |
$ 140,936,000 |
$ 279,839,000 |
$ 288,079,000 |