Investor Relations

As Reported Financials

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Cash flows from operating activities

Net income attributable to the Company 64,925 71,628 40,591 80,384 58,784

Adjustments to arrive at net income from continuing operations

Net income attributable to noncontrolling interests 4,407 4,157 4,468 3,487 265
Less - Net income from discontinued operations (11,234) (5,541) (4,870) (2,002) 0
Tax expense from discontinued operations 4,823 NA NA NA NA
Net income from continuing operations 62,921 70,244 40,189 81,869 59,049

Adjustments to reconcile net income from continuing operations to net cash provided by/ (used in) operating activities

Depreciation and amortization 22,187 23,441 21,023 23,129 17,726
Net income attributable to noncontrolling interests (4,407) (4,157) (4,468) (3,487) (265)
Stock compensation, net of cancellations 9,820 4,112 8,275 6,676 4,022
Impairment of goodwill 0 9,528 24,901 0 NA
Provision/ (credit) for loan losses (1,555) (6,935) (7,669) (2,198) 104
Loans originated for sale (153,445) (80,539) (53,287) (37,631) (32,796)
Proceeds from sale of loans held for sale 153,679 85,814 52,508 39,773 29,176
(Gain)/loss on sale of affiliates or offices 0 (2,862) 1,264 (18,142) NA
Goodwill and intangibles on sale of affiliate NA 0 0 18,919 NA
Deferred income tax expense/ (benefit) (4,575) 2,777 22,845 5,829 432
Increase in right-of-use assets NA NA NA NA 1,416
Increase in operating lease liabilities NA NA NA NA (1,465)
Net decrease/ (increase) in other operating activities 2,852 (817) (8,466) (23,240) (36,916)
Net cash provided by/ (used in) operating activities of continuing operations 87,477 100,606 97,115 91,497 40,483
Net cash provided by/ (used in) operating activities of discontinued operations 6,411 5,541 4,870 2,002 0
Net cash provided by/ (used in) operating activities 93,888 106,147 101,985 93,499 40,483

Cash flows from investing activities

Investment securities available-for-sale

Purchases (506,529) (382,827) (111,755) (39,747) (24,977)
Sales 34,160 11,135 81,221 53,412 0
Maturities, calls, redemptions, and principal payments 208,467 165,768 120,546 120,523 115,857

Investment securities held-to-maturity

Purchases 0 0 (14,945) (21,752) 0
Maturities, calls, and principal payments 23,741 22,522 32,912 25,598 18,880

Equity securities at fair value

Purchases NA (39,488) (65,266) (63,791) (44,537)
Sales NA 38,914 67,186 70,357 36,985
(Investments)/ distributions in trusts, net (165) (508) (952) 224 357
Purchase of BOLI 0 0 (50,000) 0 NA
Contingent considerations from divestitures NA 0 0 1,233 3,254
(Purchase)/ redemption of Federal Home Loan Bank and Federal Reserve Bank stock (2,900) (8,896) (15,896) 10,710 1,507
Net increase in portfolio loans (452,675) (403,670) (390,003) (390,884) (268,238)
Proceeds from recoveries of loans previously charged-off 6,253 10,461 5,197 3,266 887
Proceeds from sale of OREO 277 1,337 1,644 108 492
Proceeds from sale of portfolio loans NA NA NA NA 92,304
Capital expenditures (5,419) (9,011) (14,204) (20,643) (5,795)
Proceeds from sale of affiliate 0 (98,517) 0 52,981 0
Net cash provided by/ (used in) investing activities (694,790) (692,780) (354,315) (198,405) (73,024)

Cash flows from financing activities

Net increase/ (decrease) in deposits 586,558 148,303 425,100 270,924 (122,928)
Net increase/ (decrease) in securities sold under agreements to repurchase 27,719 1,409 (27,455) 4,759 11,932
Net increase/ (decrease) in federal funds purchased 0 80,000 (50,000) 220,000 (20,000)
Net increase/ (decrease) in short-term Federal Home Loan Bank borrowings 40,000 310,000 40,000 (220,000) 110,000
Advances of long-term Federal Home Loan Bank borrowings 123,636 134,779 50,110 116,444 340,000
Repayments of long-term Federal Home Loan Bank borrowings (72,462) (171,898) (130,634) (169,981) (299,240)
Repurchase of Series D preferred stock, including deemed dividend NA 0 0 (50,000) NA
Redemption of Series D preferred stock NA NA NA NA 0
Dividends paid to common shareholders (29,608) (33,110) (37,054) (40,685) (30,395)
Dividends paid to preferred shareholders (3,475) (3,475) (3,475) (1,738) 0
Tax benefit/ (deficiency) from certain stock compensation awards (1,262) (620) 0 0 NA
Proceeds from warrant exercises 0 0 3,003 372 0
Repurchase of common stock 0 (9,323) 0 (20,000) (7,193)
Proceeds from stock option exercises 1,206 1,725 882 1,661 545
Proceeds from issuance of common stock (515) 1,579 1,601 1,866 2,274
Tax withholding for share based compensation awards NA (737) (1,430) (2,430) (1,268)
Distributions paid to noncontrolling interests (4,611) (4,054) (4,360) (3,354) (265)
Other equity adjustments (199) (82) 26 3,786 (170)
Net cash provided by/ (used in) financing activities 666,987 454,496 266,314 111,624 (16,708)
Net increase/ (decrease) in cash and cash equivalents 66,085 (132,137) 13,984 6,718 (49,249)
Cash and cash equivalents at beginning of year 172,609 238,694 106,557 120,541 127,259
Cash and cash equivalents at end of period 238,694 106,557 120,541 127,259 78,010

Supplemental disclosure of cash flow items

Cash paid for interest 27,749 27,415 33,727 58,548 60,489
Cash paid for income taxes, (net of refunds received) 33,318 33,078 32,159 20,541 18,122
Change in unrealized gain/ (loss) on available-for-sale securities, net of tax (1,488) (11,689) 4,497 (9,077) 27,469
Change in unrealized gain/ (loss) on cash flow hedges, net of tax 800 518 878 54 (391)
Change in unrealized gain/ (loss) on other, net of tax (115) 123 50 296 0

Non-cash transactions

Loans transferred into other real estate owned from loan portfolio 0 1,944 0 401 0
Reversal of contingent consideration into income 2,026 NA NA NA NA
Loans charged-off (2,036) (3,949) (863) (899) (944)
Assets transferred into/ (out of) other assets held for sale 0 0 58,034 21 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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