Financial Statements (As Reported)

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 Q3 YTD 9/30/2018 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 Q3 YTD 9/30/2018 USD

Operating activities

Net income 58,069 57,486 57,786 68,051 60,968

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

Provision for loan and lease losses 3,733 2,160 5,833 8,980 14,760
Depreciation of premises and equipment 4,748 4,780 5,245 5,658 4,132
Depreciation of equipment owned and leased to others 13,893 18,280 21,678 25,215 19,692
Stock-based compensation 3,179 3,843 2,884 2,963 2,739
Amortization of investment securities premiums and accretion of discounts, net 4,351 4,652 5,861 5,449 2,863
Amortization of mortgage servicing rights 1,278 1,424 1,478 1,092 731
Deferred income taxes 4,341 1,620 2,856 2,767 (1,315)
Losses (gains) on investment securities available-for-sale (963) (4) (1,796) (4,340) 345
Originations of loans held for sale, net of principal collected (121,440) (113,029) (119,134) (101,104) (55,814)
Proceeds from the sales of loans held for sale 117,447 120,138 116,397 106,811 59,246
Net gain on sale of loans held for sale (3,532) (3,330) (3,287) (2,981) (1,458)
Net (gain) loss on sale of other real estate and repossessions (1,624) (814) (228) (251) (85)
Change in trading account securities (13) 205 0 0 NA
Change in interest receivable (603) (549) (1,326) (2,119) (3,326)
Change in interest payable (917) 798 570 1,222 3,797
Change in other assets (9,848) (8,230) 2,145 (1,434) (8,691)
Change in other liabilities (2,481) 8,010 648 (3,268) (6,779)
Other 2,733 3,168 450 4,550 551
Net change in operating activities 72,351 100,608 98,060 117,261 92,356

Investing activities

Proceeds from sales of investment securities available-for-sale 1,236 1,299 23,784 228,715 11,737
Proceeds from maturities and paydowns of investment securities available-for-sale 190,323 136,649 217,613 177,466 115,520
Purchases of investment securities available-for-sale (148,841) (147,771) (313,074) (469,385) (213,916)
Proceeds from liquidation of partnership investment 570 423 2,903 128 1,868
Net change in other investments 1,599 (1,172) (485) (3,495) (2,206)
Loans sold or participated to others 16,889 1,962 5,926 32,004 14,310
Net change in loans and leases (165,463) (315,938) (209,668) (382,386) (332,086)
Net change in equipment owned under operating leases (27,069) (54,508) (30,100) (46,003) (17,603)
Purchases of premises and equipment (8,489) (9,498) (8,935) (5,444) (2,938)
Proceeds from sales of other real estate and repossessions 10,418 6,941 2,189 6,194 4,691
Net change in investing activities (128,827) (381,613) (309,847) (462,206) (420,623)

Financing activities

Net change in demand deposits and savings accounts 102,130 173,508 278,666 205,649 97,524
Net change in time deposits 47,080 162,818 (84,092) 213,321 211,723
Net change in short-term borrowings (68,309) (12,593) 58,714 (77,348) 76,112
Proceeds from issuance of long-term debt 7,161 0 20,837 19,999 0
Payments on long-term debt (11,660) (1,250) (6,429) (26,628) (1,559)
Stock issued under stock purchase plans 197 149 120 153 145
Acquisition of treasury stock (16,342) (9,970) (8,030) (41) (817)
Cash dividends paid on common stock (17,643) (18,126) (19,416) (20,431) (19,018)
Net change in financing activities 42,614 294,536 240,370 314,674 364,110
Net change in cash and cash equivalents (13,862) 13,531 28,583 (30,271) 35,843
Cash and cash equivalents, beginning of year 80,052 66,190 79,721 108,304 78,033
Cash and cash equivalents, end of period 66,190 79,721 108,304 78,033 113,876

Supplemental Information

Non-cash transactions

Loans transferred to other real estate and repossessed assets 7,154 8,742 4,961 8,135 8,558
Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan 0 500 800 1,426 583
Stock dividend paid on common stock 0 90,003 0 0 NA

Cash paid for

Interest 19,143 17,364 21,531 25,531 NA
Income taxes 29,211 30,429 19,866 10,567 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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