Investor Relations

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q2 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q2 YTD 6/30/2018 USD

Cash flows from operating activities

Net income attributable to the Company 68,815 64,925 71,628 40,591 29,120

Adjustments to arrive at net income from continuing operations

Net income attributable to noncontrolling interests 4,750 4,407 4,157 4,468 2,018
Less - Net income from discontinued operations (11,258) (11,234) (9,452) (8,326) (1,696)
Tax expense from discontinued operations 5,098 4,823 3,911 3,456 NA
Net income from continuing operations 67,405 62,921 70,244 40,189 29,442

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

Depreciation and amortization 19,378 22,187 23,441 21,023 11,200
Net income attributable to noncontrolling interests (4,750) (4,407) (4,157) (4,468) (2,018)
Stock compensation, net of cancellations 6,239 9,820 4,112 8,275 3,399
Impairment of goodwill 0 0 9,528 24,901 NA
Provision/ (credit) for loan losses (6,400) (1,555) (6,935) (7,669) (1,342)
Loans originated for sale (71,858) (153,445) (80,539) (53,287) (24,260)
Proceeds from sale of loans held for sale 71,440 153,679 85,814 52,508 24,486
(Gain)/loss on sale of affiliates or offices 0 0 (2,862) 1,264 NA
Deferred income tax expense/ (benefit) 5,058 (4,575) 2,777 22,845 8,374
Net decrease/ (increase) in other operating activities 14,387 2,852 (817) (8,466) (17,613)
Net cash provided by/ (used in) operating activities of continuing operations 100,899 87,477 100,606 97,115 31,668
Net cash provided by/ (used in) operating activities of discontinued operations 6,160 6,411 5,541 4,870 1,696
Net cash provided by/ (used in) operating activities 107,059 93,888 106,147 101,985 33,364

Cash flows from investing activities

Investment securities available-for-sale

Purchases (335,404) (506,529) (422,315) (177,021) (32,659)
Sales 6,450 34,160 50,049 148,407 35,550
Maturities, redemptions, and principal payments 190,926 208,467 165,768 120,546 65,712

Investment securities held-to-maturity

Purchases (48,835) 0 0 (14,945) (11,876)
Principal payments 19,263 23,741 22,522 32,912 7,288
(Investments)/ distributions in trusts, net (385) (165) (508) (952) (329)
Purchase of additional Bank Owned Life Insurance (“BOLI”) NA 0 0 (50,000) 0
(Purchase)/ redemption of Federal Home Loan Bank and Federal Reserve Bank stock 6,331 (2,900) (8,896) (15,896) (10,154)
Net increase in portfolio loans (221,256) (452,675) (403,670) (390,003) (263,692)
Proceeds from recoveries of loans previously charged-off 11,163 6,253 10,461 5,197 593
Proceeds from sale of OREO 1,102 277 1,337 1,644 0
Proceeds from sale of portfolio loans 58,568 NA NA NA NA
Net payment for sale of offices and related deposits 0 0 (98,517) 0 NA
Capital expenditures, net of sale proceeds (9,705) (5,419) (9,011) (14,204) (14,453)
Cash received from dispositions, net of cash divested/ (cash paid for acquisitions, including cash paid for deferred acquisition obligations, net of cash acquired) (44,845) NA NA NA NA
Cash provided by/ (used in) other investing activities of continuing operations (1,601) NA NA NA NA
Net cash provided by/ (used in) investing activities of continuing operations (368,228) NA NA NA NA
Net cash provided by/ (used in) investing activities-discontinued operations 0 NA NA NA NA
Proceeds from sale of affiliate NA NA NA NA 34,120
Net cash provided by/ (used in) investing activities (368,228) (694,790) (692,780) (354,315) (189,900)

Cash flows from financing activities

Net increase/ (decrease) in deposits 343,509 586,558 148,303 425,100 109,933
Net increase/ (decrease) in securities sold under agreements to repurchase (71,857) 27,719 1,409 (27,455) 26,655
Net increase/ (decrease) in federal funds purchased 0 0 80,000 (50,000) (30,000)
Net increase/ (decrease) in short-term Federal Home Loan Bank borrowings 10,000 40,000 310,000 40,000 350,000
Advances of long-term Federal Home Loan Bank borrowings 55,000 123,636 134,779 50,110 91,444
Repayments of long-term Federal Home Loan Bank borrowings (62,104) (72,462) (171,898) (130,634) (78,187)
Repurchase of common stock 0 0 (9,323) 0 NA
Redemption of Series D preferred stock NA NA NA NA (50,000)
Dividends paid to common shareholders (25,829) (29,608) (33,110) (37,054) (20,330)
Dividends paid to preferred shareholders (3,475) (3,475) (3,475) (3,475) (1,738)
Tax benefit/ (deficiency) from certain stock compensation awards 1,294 (1,262) (620) 0 NA
Proceeds from warrant exercises NA 0 0 3,003 21
Proceeds from stock option exercises 1,807 1,206 1,725 882 1,257
Proceeds from issuance of common stock, net (353) (515) 842 171 (1,059)
Distributions paid to noncontrolling interests (4,426) (4,611) (4,054) (4,360) (1,958)
Other equity adjustments (1,669) (199) (82) 26 4,496
Net cash provided by/ (used in) financing activities of continuing operations 241,897 NA NA NA NA
Net cash provided by/ (used in) financing activities-discontinued operations 0 NA NA NA NA
Net cash provided by/ (used in) financing activities 241,897 666,987 454,496 266,314 400,534
Net increase/ (decrease) in cash and cash equivalents (19,272) 66,085 (132,137) 13,984 243,998
Cash and cash equivalents at beginning of year 191,881 172,609 238,694 106,557 120,541
Cash and cash equivalents at end of period 172,609 238,694 106,557 120,541 364,539

Supplementary schedule of non-cash investing and financing activities

Cash paid for interest 30,043 27,749 27,415 33,502 23,742
Cash paid for income taxes, (net of refunds received) 30,072 33,318 33,078 32,159 9,827
Change in unrealized gain/ (loss) on available-for-sale securities, net of tax 3,740 (1,488) (11,689) 4,497 (14,848)
Change in unrealized gain/ (loss) on cash flow hedges, net of tax (160) 800 518 878 511
Change in unrealized gain/ (loss) on other, net of tax (80) (115) 123 50 1

Non-cash transactions

Loans transferred into other real estate owned from loan portfolio 298 0 1,944 0 108
Reversal of contingent consideration into income 0 2,026 0 0 NA
Equity issued for acquisitions, including deferred acquisition obligations 21,007 NA NA NA NA
Transfer of net assets into held for sale NA 0 0 58,034 NA
Loans charged-off (5,296) (2,036) (3,949) (863) (529)
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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