Capital City Bank Group, Inc(NASDAQ:CCBG) 
Capital City Bank Group, Inc. operates as the financial holding company for Capital City Bank that provides a range of banking and banking-related services to individual and corporate clients. The company offers financing for commercial business properties, equipment, inventories, and accounts recei...
Website: http://www.ccbg.com
Founded: 1895
Full Time Employees: 796
Sector: Financial Services
Industry: Banks-Regional
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2009-12-31 | 2008-09-30 | 2008-06-30 | 2008-03-31 | 2007-12-31 | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2006-12-31 | 2006-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
interest income | |||||||||||||
loans, including fees | 23,594,000 | 23,687,000 | 23,593,000 | ||||||||||
investment securities: | |||||||||||||
taxable | 2,400,000 | 2,708,000 | |||||||||||
tax exempt | 26,000 | 29,000 | |||||||||||
federal funds sold and interest bearing deposits | 146,000 | 88,000 | 757,000 | ||||||||||
total interest income | 26,166,000 | 26,512,000 | 13,139,000 | 34,654,000 | 36,260,000 | 38,723,000 | 40,786,000 | 41,299,000 | 41,724,000 | 41,514,000 | 42,600,000 | 42,512,000 | |
interest expense | |||||||||||||
deposits | 190,000 | 218,000 | 939,000 | -12,873,000 | 5,815,000 | 7,162,000 | 10,481,000 | 11,323,000 | 11,266,000 | 11,098,000 | 11,000,000 | 10,830,000 | 9,985,000 |
short-term borrowings | 498,000 | 421,000 | 132,000 | -756,000 | 230,000 | 296,000 | 521,000 | 639,000 | 734,000 | 737,000 | 761,000 | 723,000 | 753,000 |
subordinated notes payable | 316,000 | 374,000 | 471,000 | 932,000 | 936,000 | 931,000 | 931,000 | 936,000 | 936,000 | 932,000 | 926,000 | 936,000 | 936,000 |
other long-term borrowings | 40,000 | 41,000 | 50,000 | 1,021,000 | 488,000 | 396,000 | 331,000 | 343,000 | 453,000 | 496,000 | 502,000 | 515,000 | 615,000 |
total interest expense | 1,044,000 | 1,054,000 | 1,592,000 | -11,676,000 | 7,469,000 | 8,785,000 | 12,264,000 | 13,241,000 | 13,389,000 | 13,263,000 | 13,189,000 | 13,004,000 | 12,289,000 |
net interest income | 25,122,000 | 25,458,000 | 25,773,000 | 24,815,000 | 27,185,000 | 27,475,000 | 26,459,000 | 27,545,000 | 27,910,000 | 28,461,000 | 28,325,000 | 29,596,000 | 30,223,000 |
provision for credit losses | 1,308,000 | 2,005,000 | 4,990,000 | ||||||||||
net interest income after provision for credit losses | 23,814,000 | 23,453,000 | 20,783,000 | ||||||||||
noninterest income | |||||||||||||
deposit fees | 4,316,000 | 3,756,000 | 5,015,000 | ||||||||||
bank card fees | 3,389,000 | 3,142,000 | 3,051,000 | 6,000 | 2,431,000 | 3,908,000 | 3,961,000 | ||||||
wealth management fees | 2,808,000 | 2,554,000 | 2,604,000 | ||||||||||
mortgage banking revenues | 22,983,000 | 17,814,000 | 3,030,000 | 1,368,000 | 331,000 | 506,000 | 494,000 | 425,000 | 642,000 | 850,000 | 679,000 | 787,000 | 824,000 |
other | 1,469,000 | 2,933,000 | 1,778,000 | -312,000 | 2,165,000 | 2,277,000 | 4,551,000 | -7,524,000 | 5,427,000 | 5,827,000 | 5,291,000 | 5,314,000 | 4,982,000 |
total noninterest income | 34,965,000 | 30,199,000 | 15,478,000 | 3,662,000 | 20,212,000 | 15,718,000 | 17,799,000 | 15,823,000 | 14,431,000 | 15,084,000 | 13,962,000 | 14,384,000 | 14,144,000 |
noninterest expense | |||||||||||||
compensation | 26,164,000 | 23,658,000 | 19,736,000 | ||||||||||
occupancy | 5,906,000 | 5,798,000 | 4,979,000 | 2,572,000 | 2,373,000 | 2,491,000 | 2,362,000 | 2,378,000 | 2,409,000 | 2,324,000 | 2,236,000 | 2,460,000 | 2,354,000 |
other real estate owned | 219,000 | 116,000 | -798,000 | ||||||||||
total noninterest expense | 40,342,000 | 37,303,000 | 30,969,000 | 41,645,000 | 29,916,000 | 30,756,000 | 29,798,000 | 31,614,000 | 29,919,000 | 29,897,000 | 30,562,000 | 29,984,000 | 30,422,000 |
income before income taxes | 18,437,000 | 16,349,000 | 5,292,000 | 6,094,750 | 7,056,000 | 7,005,000 | 10,318,000 | 10,055,000 | 10,870,000 | 11,973,000 | 10,488,000 | 13,536,000 | 13,234,000 |
income tax expense | 3,165,000 | 2,950,000 | 1,282,000 | ||||||||||
net income | 15,272,000 | 13,399,000 | 4,010,000 | -20,399,000 | 4,838,000 | 4,810,000 | 7,280,000 | 7,664,000 | 7,171,000 | 7,891,000 | 6,957,000 | 8,849,000 | 8,680,000 |
yoy | 215.67% | 178.57% | -44.92% | -366.17% | -32.53% | -39.04% | 4.64% | -13.39% | -17.38% | ||||
qoq | 13.98% | 234.14% | -119.66% | -521.64% | 0.58% | -33.93% | -5.01% | 6.87% | -9.12% | 13.43% | -21.38% | 1.95% | |
pre-tax income attributable to noncontrolling interests | -4,875,000 | ||||||||||||
net income attributable to common shareowners | 10,397,000 | 9,146,000 | 4,287,000 | ||||||||||
basic net income per share | 0.62 | 0.55 | 0.26 | -1.19 | 0.29 | 0.28 | 0.42 | 0.44 | 0.41 | 0.43 | 0.38 | 0.48 | 0.47 |
diluted net income per share | 0.62 | 0.55 | 0.25 | -1.19 | 0.29 | 0.28 | 0.42 | 0.44 | 0.41 | 0.43 | 0.38 | 0.48 | 0.47 |
average common basic shares outstanding | 16,771 | 16,797 | |||||||||||
average common diluted shares outstanding | 16,810 | 16,839 | |||||||||||
the accompanying notes to consolidated financial statements are an integral part of these statements. | |||||||||||||
net income attributable to noncontrolling interests | -4,253,000 | ||||||||||||
taxable securities | 2,996,000 | ||||||||||||
tax exempt securities | 19,000 | ||||||||||||
net loss attributable to noncontrolling interests | 277,000 | ||||||||||||
average basic shares outstanding | 16,808 | 4,286,695 | 17,123,967 | 17,146,395 | 17,170,230 | 4,516,598.25 | 17,709,119 | 18,089,022 | 18,408,726 | 4,651,122 | 18,529,926 | ||
average diluted shares outstanding | 16,842 | 4,287,348 | 17,127,949 | 17,146,837 | 18,419,616 | 4,656,791.75 | 18,564,932 | ||||||
interest and fees on loans | 16,212,000 | 32,435,000 | 33,422,000 | 35,255,000 | 37,729,000 | 38,692,000 | 39,092,000 | 39,053,000 | 40,096,000 | 40,260,000 | |||
u.s. treasury | -19,000 | 218,000 | 182,000 | 167,000 | 149,000 | 143,000 | 142,000 | 141,000 | 143,000 | 132,000 | |||
u.s. govt. agencies | 503,500 | 588,000 | 665,000 | 760,000 | 690,500 | 906,000 | 916,000 | ||||||
states and political subdivisions | 300,000 | 803,000 | 781,000 | 786,000 | 767,000 | 743,000 | 708,000 | 676,000 | 665,000 | 650,000 | |||
other securities | -171,000 | 135,000 | 182,000 | 181,000 | 211,000 | 176,000 | 177,000 | 184,000 | 187,000 | 203,000 | |||
funds sold | -2,996,000 | 475,000 | 1,028,000 | 1,574,000 | 1,064,000 | 639,000 | 689,000 | 521,000 | 576,000 | 338,000 | |||
benefit from loan losses | 4,999,750 | 10,425,000 | |||||||||||
net interest income after benefit from loan losses | 15,280,000 | 16,760,000 | |||||||||||
service charges on deposit accounts | 7,207,000 | 7,110,000 | 7,060,000 | 6,765,000 | 7,256,000 | 6,387,000 | 6,442,000 | 6,045,000 | 6,394,000 | 6,450,000 | |||
data processing | 624,500 | 873,000 | 812,000 | 813,000 | 853,000 | 775,000 | 790,000 | 715,000 | 709,000 | 673,000 | |||
asset management fees | 625,000 | 1,025,000 | 1,125,000 | 1,150,000 | 1,100,000 | 1,200,000 | 1,175,000 | 1,225,000 | 1,180,000 | 1,215,000 | |||
securities transactions | -112,000 | 27,000 | 30,000 | 65,000 | 7,000 | 7,000 | -1,000 | ||||||
gain on sale of portion of merchant services portfolio | 1,562,500 | 6,250,000 | |||||||||||
salaries and associate benefits | 18,728,000 | 15,417,000 | 15,318,000 | 15,604,000 | 14,472,000 | 15,096,000 | 14,992,000 | 15,719,000 | 14,943,000 | 15,277,000 | |||
furniture and equipment | 1,562,000 | 2,369,000 | 2,583,000 | 2,582,000 | 2,534,000 | 2,513,000 | 2,494,000 | 2,349,000 | 2,259,000 | 2,492,000 | |||
intangible amortization | -334,000 | 1,459,000 | 1,459,000 | 1,459,000 | 1,458,000 | 1,459,000 | 1,458,000 | 1,459,000 | 1,484,000 | 1,536,000 | |||
income taxes | 1,862,750 | 2,218,000 | 2,195,000 | 3,038,000 | 2,391,000 | 3,699,000 | 4,082,000 | 3,531,000 | 4,687,000 | 4,554,000 | |||
provision for loan losses | 5,432,000 | 4,142,000 | 1,699,000 | 1,552,000 | 1,675,000 | 1,237,000 | 460,000 | 711,000 | |||||
net interest income after provision for loan losses | 22,043,000 | 22,317,000 | 20,058,000 | 26,358,000 | 26,786,000 | 27,088,000 | 22,010,250 | 29,512,000 | |||||
average diluted share outstanding | 17,178,358 | 4,519,229 | 17,719,436 | 18,089,223 | |||||||||
u.s. govt. agencies and corporations | 939,000 | 668,000 | 929,000 | ||||||||||
merger expense |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-06-30 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2015-09-30 | 2013-12-31 | 2011-12-31 | 2009-12-31 | 2009-04-22 | 2008-06-30 | 2008-03-31 | 2007-12-31 | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2006-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||
cash and due from banks | 76,509,000 | 75,155,000 | 72,676,000 | 60,087,000 | 61,151,000 | 53,731,000 | 49,501,000 | 62,032,000 | 48,423,000 | 56,573,000 | 47,804,000 | 72,801,000 | 48,268,000 | 79,608,000 | 51,766,000 | 42,917,000 | 55,209,000 | 54,953,000 | 57,877,000 | 81,317,000 | 108,672,000 | 97,525,000 | 93,437,000 | 91,378,000 | 95,573,000 | 92,233,000 | 100,781,000 | |
federal funds sold and interest bearing deposits | 626,104,000 | 513,273,000 | 196,936,000 | 318,336,000 | 177,389,000 | 234,097,000 | 304,213,000 | 213,968,000 | 26,839,000 | 107,066,000 | 250,821,000 | 162,377,000 | 247,779,000 | 144,576,000 | 220,719,000 | 167,787,000 | 474,719,000 | 330,361,000 | 276,416,000 | 166,260,000 | ||||||||
investment securities, available for sale, at fair value | 328,253,000 | 341,180,000 | 382,514,000 | 403,601,000 | 376,981,000 | 410,851,000 | 429,016,000 | 446,157,000 | 484,243,000 | 493,662,000 | 471,836,000 | 529,686,000 | 522,734,000 | 500,139,000 | 485,848,000 | 444,071,000 | 251,420,000 | |||||||||||
investment securities, held to maturity | 202,593,000 | |||||||||||||||||||||||||||
loans held for sale, at fair value | 116,561,000 | 76,610,000 | 82,598,000 | |||||||||||||||||||||||||
loans held for investment | 1,998,161,000 | 2,022,177,000 | 1,862,387,000 | |||||||||||||||||||||||||
allowance for credit losses | -23,137,000 | -22,457,000 | -21,083,000 | |||||||||||||||||||||||||
premises and equipment | 87,192,000 | 87,972,000 | 87,684,000 | 84,543,000 | 85,810,000 | 86,005,000 | 86,846,000 | 87,190,000 | 89,567,000 | 90,000,000 | 90,939,000 | 92,495,000 | 95,476,000 | 96,499,000 | 97,313,000 | 98,218,000 | 103,385,000 | 110,991,000 | 115,439,000 | 107,259,000 | 102,559,000 | 100,145,000 | 98,612,000 | 95,816,000 | 92,656,000 | 88,812,000 | 84,915,000 | |
goodwill | 89,095,000 | 89,095,000 | 89,275,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,811,000 | 84,810,000 | |
other real estate owned | 1,227,000 | 1,059,000 | 1,463,000 | 953,000 | 526,000 | 1,010,000 | 1,902,000 | 2,229,000 | 2,720,000 | 3,373,000 | 3,330,000 | 7,968,000 | 10,638,000 | 12,738,000 | 14,622,000 | 25,219,000 | 48,071,000 | 62,600,000 | ||||||||||
other assets | 84,483,000 | 83,282,000 | 80,281,000 | 65,550,000 | 81,033,000 | 87,159,000 | 82,041,000 | 78,592,000 | 86,832,000 | 88,871,000 | 96,257,000 | 276,315,000 | 91,464,000 | 99,382,000 | 90,577,000 | 89,240,000 | 86,701,000 | 69,471,000 | 92,126,000 | 121,137,000 | 87,483,000 | 69,479,000 | 75,405,000 | 70,947,000 | 62,611,000 | 60,815,000 | 60,117,000 | 48,895,000 |
liabilities | ||||||||||||||||||||||||||||
deposits: | ||||||||||||||||||||||||||||
noninterest bearing deposits | 1,378,314,000 | 1,377,032,000 | 1,066,607,000 | 1,044,699,000 | 1,022,774,000 | 1,024,898,000 | 995,853,000 | 947,858,000 | 934,146,000 | 937,241,000 | 890,482,000 | 832,477,000 | 842,314,000 | 791,182,000 | 801,671,000 | 798,219,000 | 720,824,000 | 641,463,000 | 618,317,000 | 427,791,000 | 413,608,000 | 416,992,000 | 432,904,000 | 432,659,000 | 419,242,000 | 456,986,000 | 467,875,000 | 506,331,000 |
interest bearing deposits | 1,631,132,000 | 1,577,964,000 | 1,478,978,000 | 1,600,755,000 | 1,450,233,000 | 1,536,206,000 | 1,621,441,000 | 1,583,998,000 | 1,447,070,000 | 1,521,949,000 | 1,608,402,000 | 1,529,619,000 | 1,621,104,000 | 1,513,436,000 | 1,526,587,000 | 1,394,159,000 | 1,494,785,000 | 1,554,202,000 | 1,830,443,000 | 1,576,181,000 | 1,745,934,000 | 1,759,701,000 | 1,709,685,000 | 1,518,171,000 | 1,552,604,000 | 1,574,187,000 | 1,542,908,000 | |
short-term borrowings | 90,936,000 | 63,958,000 | 76,516,000 | 6,404,000 | 10,622,000 | 9,753,000 | 8,983,000 | 13,541,000 | 16,644,000 | 7,021,000 | 4,893,000 | 9,927,000 | 6,105,000 | 12,749,000 | 12,113,000 | 9,609,000 | 65,355,000 | 51,321,000 | 43,372,000 | 35,841,000 | 68,193,000 | 51,783,000 | 61,781,000 | 53,131,000 | 63,817,000 | 74,307,000 | 77,936,000 | 54,171,000 |
subordinated notes payable | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 52,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 | 62,887,000 |
other long-term borrowings | 5,268,000 | 5,583,000 | 5,896,000 | 6,514,000 | 6,963,000 | 7,313,000 | 7,661,000 | 8,568,000 | 12,456,000 | 12,897,000 | 13,333,000 | 15,174,000 | 15,631,000 | 14,881,000 | 21,368,000 | 26,401,000 | 29,042,000 | 38,043,000 | 44,606,000 | 49,380,000 | 53,448,000 | 36,857,000 | 29,843,000 | 26,731,000 | 29,725,000 | 41,276,000 | 42,879,000 | 43,701,000 |
other liabilities | 71,880,000 | 75,702,000 | 70,044,000 | 50,678,000 | 69,472,000 | 72,002,000 | 56,240,000 | 49,744,000 | 57,971,000 | 54,712,000 | 66,475,000 | 82,833,000 | 86,774,000 | 77,226,000 | 75,055,000 | 79,109,000 | 69,168,000 | 47,004,000 | 65,986,000 | 34,083,000 | 49,518,000 | 38,382,000 | 47,723,000 | 38,559,000 | 47,031,000 | 41,251,000 | 41,841,000 | 29,833,000 |
temporary equity | 17,199,000 | 11,341,000 | 7,088,000 | |||||||||||||||||||||||||
shareowners’ equity | ||||||||||||||||||||||||||||
preferred stock, .01 par value... | ||||||||||||||||||||||||||||
common stock, .01 par value... | 168,000 | 167,000 | 168,000 | 171,000 | 174,000 | 172,000 | 170,000 | 170,000 | 171,000 | 172,000 | 172,000 | 176,000 | 179,000 | 183,000 | 185,000 | |||||||||||||
issued and outstanding at september 30, 2020 and december 31, 2019, respectively | 168,000 | |||||||||||||||||||||||||||
additional paid-in capital | 31,425,000 | 31,575,000 | 32,100,000 | 32,092,000 | 31,075,000 | 30,751,000 | 31,929,000 | 31,058,000 | 38,325,000 | 37,932,000 | 37,343,000 | 35,522,000 | 34,188,000 | 33,152,000 | 32,855,000 | 37,738,000 | 41,152,000 | 37,838,000 | 36,099,000 | 35,841,000 | 36,382,000 | 38,042,000 | 38,243,000 | 50,789,000 | 58,001,000 | 71,366,000 | 80,938,000 | |
retained earnings | 333,545,000 | 328,570,000 | 321,772,000 | 322,937,000 | 316,551,000 | 310,247,000 | 304,763,000 | 300,177,000 | 293,254,000 | 288,800,000 | 283,990,000 | 271,646,000 | 267,037,000 | 264,581,000 | 262,380,000 | 256,265,000 | 243,614,000 | 237,461,000 | 246,460,000 | 260,287,000 | 266,171,000 | 264,538,000 | 260,325,000 | 255,876,000 | 251,838,000 | 246,959,000 | 238,870,000 | |
accumulated other comprehensive loss, net of tax | -25,713,000 | -25,256,000 | -25,533,000 | -28,181,000 | -26,231,000 | -26,570,000 | -27,874,000 | -28,815,000 | -33,734,000 | -33,332,000 | -33,144,000 | -25,825,000 | -26,225,000 | -21,277,000 | -20,579,000 | -20,515,000 | -8,540,000 | -23,529,000 | -14,830,000 | -20,754,000 | -6,144,000 | -5,079,000 | -6,065,000 | -7,788,000 | -8,581,000 | -7,996,000 | -951,000 | |
total shareowners’ equity | 339,425,000 | 335,057,000 | 328,507,000 | 327,016,000 | 321,562,000 | 314,595,000 | 308,986,000 | 302,587,000 | 298,016,000 | 293,571,000 | 288,360,000 | 283,404,000 | 281,513,000 | 275,168,000 | 276,624,000 | 274,824,000 | 273,659,000 | 276,400,000 | 251,942,000 | |||||||||
total liabilities, temporary equity, and shareowners' equity | 3,587,041,000 | |||||||||||||||||||||||||||
the accompanying notes to consolidated financial statements are an integral part of these statements. | ||||||||||||||||||||||||||||
investment securities, held to maturity, (fair value of 238,499 and 241,429 | 232,178,000 | |||||||||||||||||||||||||||
issued and outstanding at june 30, 2020 and december 31, 2019, respectively | 168,000 | |||||||||||||||||||||||||||
total liabilities, temporary equity and shareowners' equity | 3,499,524,000 | |||||||||||||||||||||||||||
investment securities, held to maturity, | 251,792,000 | |||||||||||||||||||||||||||
issued and outstanding at march 31, 2020 and december 31, 2019, respectively | 168,000 | |||||||||||||||||||||||||||
total liabilities and shareowners' equity | 3,086,523,000 | 2,934,513,000 | 3,017,654,000 | 3,052,051,000 | 2,819,190,000 | 2,880,278,000 | 2,924,832,000 | 2,814,843,000 | 2,753,154,000 | 2,767,636,000 | 2,615,094,000 | 2,611,903,000 | 2,708,324,000 | 2,499,379,000 | 2,649,415,000 | 2,692,512,000 | 2,616,327,000 | 2,439,926,000 | 2,530,748,000 | 2,578,117,000 | 2,558,873,000 | |||||||
total cash and cash equivalents | 378,423,000 | 276,000,000 | 296,047,000 | 210,704,000 | 529,928,000 | 385,314,000 | 334,293,000 | 85,558,000 | 301,458,000 | 338,727,000 | 259,697,000 | 110,977,000 | 172,870,000 | 186,065,000 | 136,412,000 | |||||||||||||
investment securities, held to maturity, at amortized cost | 239,539,000 | 240,303,000 | 229,516,000 | 226,179,000 | 217,320,000 | 227,923,000 | 236,764,000 | 225,552,000 | 157,074,000 | 177,365,000 | 189,928,000 | 204,474,000 | 193,964,000 | 148,211,000 | ||||||||||||||
total investment securities | 643,140,000 | 663,477,000 | 700,099,000 | 638,035,000 | 399,631,000 | |||||||||||||||||||||||
loans held for sale | 9,509,000 | 13,075,000 | 9,885,000 | 4,557,000 | 6,869,000 | 8,297,000 | 8,246,000 | 4,845,000 | 8,213,000 | 10,886,000 | 10,510,000 | 12,046,000 | 10,960,000 | 11,065,000 | ||||||||||||||
loans, net of unearned income | 1,835,929,000 | 1,827,753,000 | 1,835,182,000 | 1,797,105,000 | 1,774,225,000 | 1,773,754,000 | 1,724,475,000 | 1,661,895,000 | 1,618,583,000 | 1,621,196,000 | 1,561,289,000 | 1,557,512,000 | 1,520,474,000 | 1,475,183,000 | 1,388,604,000 | 1,628,683,000 | ||||||||||||
allowance for loan losses | -13,905,000 | -14,319,000 | -14,593,000 | -14,120,000 | -14,210,000 | -14,219,000 | -13,563,000 | -13,258,000 | -13,541,000 | -13,242,000 | -13,431,000 | -13,744,000 | -13,677,000 | -14,737,000 | -23,095,000 | -31,035,000 | -43,999,000 | -40,172,000 | -22,518,000 | -20,277,000 | -18,066,000 | -18,001,000 | -17,469,000 | -17,108,000 | -17,311,000 | |||
loans | 1,822,024,000 | 1,760,015,000 | 1,547,858,000 | 1,460,446,000 | 1,365,509,000 | 1,597,648,000 | 1,871,941,000 | 1,931,440,000 | 1,894,297,000 | 1,894,181,000 | 1,897,784,000 | 1,885,887,000 | 1,913,242,000 | 1,948,733,000 | 1,992,148,000 | |||||||||||||
total assets | 3,088,953,000 | 2,959,183,000 | 2,816,096,000 | 2,845,197,000 | 2,615,094,000 | 2,611,903,000 | 2,641,312,000 | 2,708,324,000 | 2,499,379,000 | 2,649,415,000 | 2,692,512,000 | 2,616,327,000 | 2,439,926,000 | 2,530,748,000 | 2,578,117,000 | 2,558,873,000 | ||||||||||||
total deposits | 2,645,454,000 | 2,531,856,000 | 2,412,286,000 | 2,114,983,000 | 2,136,248,000 | 2,172,519,000 | 2,258,234,000 | 1,989,789,000 | 2,162,926,000 | 2,192,605,000 | 2,142,344,000 | 1,937,413,000 | 2,009,590,000 | 2,042,062,000 | 2,049,239,000 | |||||||||||||
total liabilities | 2,761,937,000 | 2,656,596,000 | 2,532,692,000 | 2,570,029,000 | 2,341,435,000 | 2,335,503,000 | 2,389,370,000 | 2,440,425,000 | 2,223,835,000 | 2,352,835,000 | 2,394,839,000 | 2,323,652,000 | 2,140,873,000 | 2,229,311,000 | 2,267,605,000 | 2,239,831,000 | ||||||||||||
total liabilities and shareowners’ equity | 3,088,953,000 | 2,959,183,000 | 2,845,197,000 | 2,641,312,000 | ||||||||||||||||||||||||
issued and outstanding at september 30, 2019 and december 31, 2018, respectively | 167,000 | |||||||||||||||||||||||||||
issued and outstanding at june 30, 2019 and december 31, 2018, respectively | 167,000 | |||||||||||||||||||||||||||
issued and outstanding at march 31, 2019 and december 31, 2018, respectively | 168,000 | |||||||||||||||||||||||||||
issued and outstanding at september 30, 2018 and december 31, 2017, respectively | 171,000 | |||||||||||||||||||||||||||
issued and outstanding at june 30, 2018 and december 31, 2017, respectively | 171,000 | |||||||||||||||||||||||||||
issued and outstanding at march 31, 2018 and december 31, 2017, respectively | 171,000 | |||||||||||||||||||||||||||
taxable investment securities | 595,790,000 | |||||||||||||||||||||||||||
tax-exempt investment securities | 97,867,000 | |||||||||||||||||||||||||||
funds sold | 189,991,000 | |||||||||||||||||||||||||||
total earning assets | 2,502,231,000 | |||||||||||||||||||||||||||
cash & due from banks | 51,091,000 | |||||||||||||||||||||||||||
now accounts | 805,861,000 | |||||||||||||||||||||||||||
money market accounts | 258,304,000 | |||||||||||||||||||||||||||
savings accounts | 323,928,000 | |||||||||||||||||||||||||||
time deposits | 151,301,000 | |||||||||||||||||||||||||||
total interest bearing deposits | 1,539,394,000 | |||||||||||||||||||||||||||
total interest bearing liabilities | 1,617,382,000 | |||||||||||||||||||||||||||
total liabilities & equity | 2,816,096,000 | |||||||||||||||||||||||||||
interest rate spread | 3,270 | |||||||||||||||||||||||||||
net interest income | 84,208,000 | |||||||||||||||||||||||||||
net interest margin | 3,370 | |||||||||||||||||||||||||||
average balances include nonaccrual loans. interest income includes loan fees of 0.7 million for 2017, 0.8 million for 2016, and 1.4 million for 2015. | ||||||||||||||||||||||||||||
interest income includes the effects of taxable equivalent adjustments using a 35% tax rate. | ||||||||||||||||||||||||||||
taxable equivalent net interest income divided by average earning assets. | ||||||||||||||||||||||||||||
issued and outstanding at june 30, 2017 and december 31, 2016, respectively | 170,000 | |||||||||||||||||||||||||||
issued and outstanding at september 30, 2016 and december 31, 2015 respectively | 168,000 | |||||||||||||||||||||||||||
issued and outstanding at june 30, 2016 and december 31, 2015 respectively | 168,000 | |||||||||||||||||||||||||||
other intangible assets | 32,000 | 673,000 | 4,030,000 | 7,061,000 | 10,840,000 | 12,299,000 | 13,757,000 | 15,215,000 | 16,674,000 | 18,133,000 | 21,076,000 | |||||||||||||||||
investment securities, available-for-sale | 307,149,000 | 176,673,000 | 195,767,000 | 185,971,000 | 186,944,000 | 190,719,000 | 184,609,000 | 189,680,000 | 191,446,000 | 190,617,000 | ||||||||||||||||||
loans, net of unearned interest | 1,915,940,000 | 1,971,612,000 | 1,916,815,000 | 1,914,458,000 | 1,915,850,000 | 1,903,888,000 | 1,930,711,000 | 1,965,841,000 | 2,009,459,000 | |||||||||||||||||||
shareowners' equity | ||||||||||||||||||||||||||||
total shareowners' equity | 267,899,000 | 275,544,000 | 296,580,000 | 297,673,000 | 292,675,000 | 299,053,000 | 301,437,000 | 310,512,000 | 319,042,000 | |||||||||||||||||||
funds sold and interest bearing deposits | 4,241,000 | 192,786,000 | 241,202,000 | 19,599,000 | 77,297,000 | 93,832,000 | 35,631,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-03-31 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2009-04-22 | 2008-06-30 | 2008-03-31 | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2006-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||||||||||||||||
net income | 10,397,000 | 9,146,000 | 4,287,000 | 8,565,000 | 8,481,000 | 7,325,000 | 6,436,000 | 8,458,000 | 5,990,000 | 6,003,000 | 5,773,000 | 3,000 | 4,555,000 | 3,561,000 | 2,744,000 | 3,296,000 | 2,873,000 | 3,930,000 | 1,647,000 | 2,602,000 | 1,683,000 | 3,845,000 | 986,000 | 1,921,000 | 3,751,000 | 843,000 | 839,000 | 1,875,000 | 1,121,000 | 650,000 | 12,090,000 | 7,280,000 | 22,019,000 | 14,848,000 | 6,957,000 | 24,416,000 |
adjustments to reconcile net income to | ||||||||||||||||||||||||||||||||||||
cash from operating activities: | ||||||||||||||||||||||||||||||||||||
provision for credit losses | 1,308,000 | 2,005,000 | 4,990,000 | |||||||||||||||||||||||||||||||||
depreciation | 1,774,000 | 1,777,000 | 1,623,000 | 1,560,000 | 1,545,000 | 1,536,000 | 1,612,000 | 1,608,000 | 1,627,000 | 1,613,000 | 1,605,000 | 1,592,000 | 1,614,000 | 1,617,000 | 1,735,000 | 1,777,000 | 1,763,000 | 1,730,000 | 1,705,000 | 1,678,000 | 1,649,000 | 1,626,000 | 1,633,000 | 1,621,000 | 1,589,000 | 1,609,000 | 1,628,000 | 1,672,000 | 1,699,000 | 1,678,000 | 3,447,000 | 1,717,000 | 4,673,000 | 3,087,000 | 1,534,000 | 5,251,000 |
amortization of premiums, discounts and fees | 1,842,000 | 1,771,000 | 1,643,000 | 1,306,000 | 1,286,000 | 1,234,000 | ||||||||||||||||||||||||||||||
originations of loans held-for-sale | -129,834,000 | -280,935,000 | -150,840,000 | -71,539,000 | -65,944,000 | -56,078,000 | -38,698,000 | |||||||||||||||||||||||||||||
proceeds from sales of loans held-for-sale | 114,672,000 | 304,737,000 | 80,781,000 | 76,647,000 | 64,341,000 | 51,949,000 | 42,003,000 | 37,314,000 | 35,931,000 | 33,454,000 | 136,973,000 | 93,254,000 | 42,374,000 | 148,330,000 | ||||||||||||||||||||||
net gain from sales of loans held-for-sale | -24,789,000 | -17,814,000 | -3,030,000 | -1,542,000 | -1,587,000 | -1,199,000 | -993,000 | -584,000 | -1,000,000 | -494,000 | -2,171,000 | -1,529,000 | -679,000 | -2,448,000 | ||||||||||||||||||||||
stock compensation | 242,000 | 77,000 | 291,000 | 435,000 | 249,000 | 386,000 | 499,000 | 443,000 | 323,000 | 324,000 | 331,000 | 306,000 | 327,000 | 461,000 | 408,000 | 517,000 | 248,000 | 248,000 | 247,000 | 261,000 | 261,000 | |||||||||||||||
net tax benefit from stock-based compensation | 0 | 0 | -84,000 | 0 | 0 | -14,000 | 0 | 0 | -41,000 | 0 | ||||||||||||||||||||||||||
deferred income taxes | -432,000 | -184,000 | -511,000 | 94,000 | -122,000 | 932,000 | 321,000 | 2,990,000 | -309,000 | 749,000 | 1,407,000 | 7,329,000 | -697,000 | -230,000 | 1,174,000 | 370,000 | -499,000 | 2,893,000 | 693,000 | 965,000 | 291,000 | 3,940,000 | -1,349,000 | 3,499,000 | 1,497,000 | -158,000 | 1,715,000 | 657,000 | -730,000 | 1,493,000 | 549,000 | 76,000 | 1,152,000 | 3,704,000 | ||
net change in operating leases | 313,000 | 306,000 | 192,000 | 22,000 | 23,000 | 22,000 | 23,000 | |||||||||||||||||||||||||||||
net loss on sales and write-downs of other real estate owned | 39,000 | 16,000 | -931,000 | 49,000 | -39,000 | -11,000 | 215,000 | -1,876,000 | 248,000 | 139,000 | 554,000 | |||||||||||||||||||||||||
proceeds from insurance claim for operating loss | 0 | 0 | ||||||||||||||||||||||||||||||||||
loss on disposal of premises and equipment | -9,000 | 0 | 30,000 | 0 | 16,000 | 254,000 | 6,000 | 0 | 39,000 | |||||||||||||||||||||||||||
net increase in other assets | -447,000 | -2,780,000 | -20,255,000 | -4,854,000 | 69,000 | -4,616,000 | -2,063,000 | 7,370,000 | -7,768,000 | -6,244,000 | -797,000 | -4,297,000 | ||||||||||||||||||||||||
net increase in other liabilities | -3,443,000 | 9,605,000 | 26,646,000 | -2,554,000 | 15,741,000 | 6,689,000 | -4,734,000 | 3,260,000 | -11,762,000 | -3,706,000 | -12,018,000 | -3,461,000 | 5,780,000 | 4,168,000 | 2,171,000 | -4,054,000 | 8,022,000 | 2,765,000 | -1,282,000 | -1,976,000 | 4,323,000 | 2,445,000 | 6,269,000 | -3,448,000 | 3,297,000 | 3,012,000 | -48,000 | 4,167,000 | 13,377,000 | -1,387,000 | 6,575,000 | 16,854,000 | 11,271,000 | 11,084,000 | 2,359,000 | |
net cash from operating activities | -28,358,000 | 27,727,000 | -55,198,000 | 9,761,000 | 12,620,000 | 16,068,000 | 15,240,000 | 13,164,000 | 16,306,000 | 2,966,000 | 2,190,000 | 2,550,000 | 200,000 | 12,109,000 | 23,918,000 | -1,266,000 | 4,123,000 | 10,514,000 | 9,250,000 | 5,801,000 | 4,893,000 | 16,371,000 | 6,696,000 | 1,399,000 | 5,787,000 | 13,698,000 | 6,422,000 | 8,833,000 | 17,431,000 | 13,564,000 | 36,754,000 | 21,103,000 | 49,687,000 | 28,724,000 | 17,885,000 | 49,206,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | -28,358,000 | 27,727,000 | -55,198,000 | 9,761,000 | 12,620,000 | 16,068,000 | 15,240,000 | 13,164,000 | 16,306,000 | 2,966,000 | 2,190,000 | 2,550,000 | 200,000 | 12,109,000 | 23,918,000 | -1,266,000 | 4,123,000 | 10,514,000 | 9,250,000 | 5,801,000 | 4,893,000 | 16,371,000 | 6,696,000 | 1,399,000 | 5,787,000 | 13,698,000 | 6,422,000 | 8,833,000 | 17,431,000 | 13,564,000 | 36,754,000 | 21,103,000 | 49,687,000 | 28,724,000 | 17,885,000 | 49,206,000 |
cash flows from investing activities | ||||||||||||||||||||||||||||||||||||
securities held to maturity: | ||||||||||||||||||||||||||||||||||||
purchases | 0 | 0 | -32,250,000 | -22,839,000 | -35,503,000 | -15,677,000 | -18,167,000 | 0 | -17,811,000 | -48,664,000 | -35,953,000 | -38,158,000 | -32,405,000 | -17,560,000 | -10,738,000 | -9,681,000 | -11,732,000 | -23,524,000 | -5,064,000 | -831,000 | -2,556,000 | -29,430,000 | -33,204,000 | 0 | -51,311,000 | -79,466,000 | -47,863,000 | -36,089,000 | -46,039,000 | -24,755,000 | -49,001,000 | -25,566,000 | -35,405,000 | -27,582,000 | -10,715,000 | -95,807,000 |
payments, maturities, and calls | 28,883,000 | 18,992,000 | 19,370,000 | 23,039,000 | 24,255,000 | 11,938,000 | 8,953,000 | 10,199,000 | 26,208,000 | 37,028,000 | 26,696,000 | 5,418,000 | 4,935,000 | 18,758,000 | 29,338,000 | 21,965,000 | 25,982,000 | 5,882,000 | 5,631,000 | 6,623,000 | 10,077,000 | 10,789,000 | 12,993,000 | 9,257,000 | 7,479,000 | 33,473,000 | 36,270,000 | 26,248,000 | 37,731,000 | 19,443,000 | 49,846,000 | 28,846,000 | 43,292,000 | 29,186,000 | 11,552,000 | 75,872,000 |
securities available for sale: | ||||||||||||||||||||||||||||||||||||
purchases of loans held for investment | -11,179,000 | -15,603,000 | -2,756,000 | -2,876,000 | -3,955,000 | -14,706,000 | -8,942,000 | -12,141,000 | -3,965,000 | -8,584,000 | -16,986,000 | -18,513,000 | ||||||||||||||||||||||||
net increase in loans held for investment | 33,171,000 | -145,396,000 | -22,191,000 | |||||||||||||||||||||||||||||||||
net cash paid for brand acquisition | 0 | 0 | -2,405,000 | |||||||||||||||||||||||||||||||||
proceeds from insurance claims on premises | 0 | 0 | 24,000 | 790,000 | ||||||||||||||||||||||||||||||||
proceeds from sales of other real estate owned | 758,000 | 645,000 | 1,155,000 | 30,000 | 627,000 | 1,064,000 | 639,000 | 3,234,000 | 825,000 | 351,000 | 364,000 | 2,079,000 | 2,559,000 | 1,279,000 | 2,114,000 | 2,105,000 | 2,231,000 | 3,142,000 | 1,965,000 | 6,803,000 | 5,362,000 | 4,162,000 | 2,598,000 | 8,158,000 | 4,485,000 | 6,256,000 | 6,101,000 | 7,673,000 | 6,621,000 | |||||||
purchases of premises and equipment | -1,000,000 | -2,069,000 | -4,773,000 | -407,000 | -1,350,000 | -734,000 | -1,268,000 | 1,313,000 | -1,251,000 | -673,000 | -847,000 | -945,000 | -1,518,000 | -611,000 | -923,000 | -754,000 | -1,675,000 | -1,104,000 | -917,000 | -2,303,000 | -759,000 | -696,000 | -945,000 | -1,075,000 | -859,000 | -469,000 | -419,000 | 214,000 | -400,000 | |||||||
noncontrolling interest contributions | ||||||||||||||||||||||||||||||||||||
net cash from investing activities | 64,169,000 | -102,501,000 | -20,298,000 | -36,061,000 | 27,771,000 | -22,779,000 | -15,806,000 | 53,173,000 | -34,424,000 | -99,021,000 | -13,747,000 | -29,394,000 | -18,891,000 | -25,132,000 | -24,111,000 | -17,878,000 | -39,573,000 | -54,018,000 | -25,892,000 | -1,887,000 | -70,212,000 | -105,055,000 | -38,897,000 | -28,130,000 | -21,591,000 | 30,981,000 | -4,760,000 | -24,512,000 | -16,258,000 | -700,000 | 82,148,000 | 60,365,000 | 30,089,000 | 18,636,000 | ||
cash flows from financing activities | ||||||||||||||||||||||||||||||||||||
net increase in deposits | 54,450,000 | 409,411,000 | -99,869,000 | -56,190,000 | 85,438,000 | 29,007,000 | 122,260,000 | -24,316,000 | -87,372,000 | 47,019,000 | 97,179,000 | -9,699,000 | 33,398,000 | -11,441,000 | -45,370,000 | 63,220,000 | 27,465,000 | -31,014,000 | 20,582,000 | 50,261,000 | -72,064,000 | |||||||||||||||
net increase in short-term borrowings | 26,978,000 | -12,558,000 | 70,018,000 | -4,218,000 | -6,613,000 | -2,146,000 | -2,643,000 | 1,863,000 | -53,313,000 | 1,427,000 | -4,394,000 | 11,657,000 | 4,210,000 | 63,000 | 6,151,000 | -1,343,000 | 8,653,000 | 9,101,000 | 12,921,000 | |||||||||||||||||
repayment of other long-term borrowings | -315,000 | -313,000 | -524,000 | -449,000 | -350,000 | -348,000 | -547,000 | -378,000 | -441,000 | -436,000 | -634,000 | -908,000 | -536,000 | -829,000 | -1,421,000 | -3,208,000 | -4,392,000 | -661,000 | -766,000 | -680,000 | -691,000 | -685,000 | -679,000 | -678,000 | -2,832,000 | -752,000 | -1,731,000 | -788,000 | -720,000 | -691,000 | -1,504,000 | -700,000 | -4,485,000 | -3,323,000 | -1,911,000 | -15,711,000 |
dividends paid | -2,347,000 | -2,348,000 | -2,357,000 | -2,179,000 | -2,177,000 | -1,841,000 | -1,850,000 | -1,535,000 | -1,536,000 | -1,193,000 | -1,193,000 | -1,187,000 | -1,188,000 | -849,000 | -847,000 | -840,000 | -672,000 | -689,000 | -689,000 | -686,000 | -514,000 | -514,000 | -527,000 | -522,000 | -348,000 | -3,253,000 | -6,214,000 | -3,173,000 | -9,608,000 | -6,475,000 | -3,240,000 | -9,078,000 | ||||
payments to repurchase common stock | -472,000 | -863,000 | -708,000 | 1,000 | 0 | 0 | 0 | -6,262,000 | -50,000 | 1,000 | -184,000 | 0 | ||||||||||||||||||||||||
issuance of common stock under purchase plans | 80,000 | 261,000 | 125,000 | |||||||||||||||||||||||||||||||||
net cash from financing activities | 78,374,000 | 393,590,000 | -33,315,000 | 166,183,000 | -89,679,000 | 134,401,000 | -70,259,000 | -38,931,000 | 24,740,000 | 121,172,000 | -25,373,000 | -90,346,000 | 42,693,000 | 91,007,000 | -12,851,000 | -34,833,000 | -11,441,000 | 182,299,000 | -39,358,000 | -47,939,000 | 62,139,000 | 118,531,000 | 20,508,000 | -47,230,000 | -32,744,000 | 138,265,000 | -157,384,000 | 1,557,000 | 21,265,000 | 58,627,000 | -93,783,000 | -39,473,000 | -97,790,000 | |||
net increase in cash and cash equivalents | 114,185,000 | 318,816,000 | -108,811,000 | -65,886,000 | 77,714,000 | 13,183,000 | 42,500,000 | -1,835,000 | -55,123,000 | 4,659,000 | 142,338,000 | -124,897,000 | ||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 0 | 0 | 378,423,000 | 0 | 0 | 276,000,000 | 0 | 0 | 285,442,000 | 0 | 0 | 296,047,000 | 0 | 0 | 378,905,000 | 0 | 0 | 385,056,000 | 529,928,000 | 0 | 509,732,000 | 0 | 94,949,000 | 259,697,000 | 259,697,000 | 177,564,000 | 177,564,000 | 177,564,000 | 166,359,000 | |||||||
cash and cash equivalents at end of period | 114,185,000 | 318,816,000 | 269,612,000 | -49,288,000 | -65,886,000 | 353,714,000 | -88,377,000 | -134,986,000 | 298,625,000 | -44,064,000 | -103,369,000 | 338,547,000 | -48,301,000 | -78,337,000 | 350,822,000 | -36,352,000 | -101,780,000 | 348,836,000 | 528,093,000 | -55,123,000 | 514,391,000 | -124,897,000 | 85,558,000 | 301,458,000 | 338,727,000 | 110,977,000 | 172,870,000 | 186,065,000 | 136,412,000 | |||||||
supplemental cash flow disclosures: | ||||||||||||||||||||||||||||||||||||
interest paid | 1,018,000 | 1,093,000 | 1,562,000 | 1,760,000 | 2,256,000 | 2,692,000 | 2,813,000 | 2,042,000 | 1,734,000 | 1,652,000 | 1,451,000 | 1,127,000 | 1,077,000 | 940,000 | 808,000 | 773,000 | 792,000 | 801,000 | 829,000 | 803,000 | 817,000 | 850,000 | 844,000 | 884,000 | 914,000 | 778,000 | 865,000 | |||||||||
income taxes paid | 3,378,000 | 1,759,000 | 3,115,000 | 6,000 | 50,000 | 2,470,000 | 20,000 | 3,333,000 | 691,000 | 50,000 | -151,000 | 1,422,000 | 163,000 | 8,000 | -5,000 | 1,030,000 | 12,000 | |||||||||||||||||||
noncash investing and financing activities: | ||||||||||||||||||||||||||||||||||||
loans transferred to other real estate owned | 965,000 | 257,000 | 734,000 | 104,000 | 161,000 | 527,000 | 420,000 | 1,218,000 | 1,201,000 | 1,679,000 | 1,243,000 | 1,088,000 | 1,742,000 | 3,150,000 | 1,290,000 | 4,355,000 | 12,979,000 | 8,738,000 | 2,830,000 | 3,147,000 | 4,467,000 | |||||||||||||||
the accompanying notes to consolidated financial statements are an integral part of these statements. | ||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to cash from operating activities: | ||||||||||||||||||||||||||||||||||||
provision for loan losses | -162,000 | 776,000 | 646,000 | 767,000 | 457,000 | 904,000 | 815,000 | 745,000 | 359,000 | 8,410,000 | 9,574,000 | 4,142,000 | 4,464,000 | 2,912,000 | 1,237,000 | 1,499,000 | ||||||||||||||||||||
amortization of premiums, discounts, and fees | 1,445,000 | 1,758,000 | 1,772,000 | 1,723,000 | 1,698,000 | 1,649,000 | 1,704,000 | 1,575,000 | 1,577,000 | 1,605,000 | 1,468,000 | 1,569,000 | 1,505,000 | 1,408,000 | 1,224,000 | 1,045,000 | 1,098,000 | 1,315,000 | 1,119,000 | 992,000 | 917,000 | 827,000 | ||||||||||||||
net tax benefit from stock compensation | ||||||||||||||||||||||||||||||||||||
impairment loss on premises | ||||||||||||||||||||||||||||||||||||
net decrease in other assets | 15,313,000 | 6,145,000 | 4,128,000 | 2,499,000 | 6,714,000 | -6,173,000 | 304,000 | -1,978,000 | 3,021,000 | 783,000 | 4,406,000 | 7,922,000 | -5,443,000 | -3,508,000 | 4,225,000 | |||||||||||||||||||||
net decrease in other liabilities | ||||||||||||||||||||||||||||||||||||
purchase of loans held for investment | ||||||||||||||||||||||||||||||||||||
net increase in loans | -5,019,000 | 9,233,000 | -34,361,000 | -9,461,000 | -61,000 | -41,026,000 | -51,467,000 | -5,514,000 | -24,298,000 | -1,226,000 | -20,002,000 | -6,099,000 | -5,222,000 | -37,557,000 | -14,644,000 | -16,574,000 | -20,047,000 | -2,976,000 | -24,973,000 | -23,436,000 | -22,167,000 | -17,762,000 | ||||||||||||||
issuance of common stock under compensation plans | 581,000 | 76,000 | 240,000 | 157,000 | 317,000 | 69,000 | 264,000 | 147,000 | 476,000 | 43,000 | 202,000 | 88,000 | 519,000 | 49,000 | 194,000 | 78,000 | 192,000 | 35,000 | 218,000 | 62,000 | 207,000 | 51,000 | ||||||||||||||
cash and cash equivalents at beginning of year | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of year | ||||||||||||||||||||||||||||||||||||
loans and premises transferred to other real estate owned | 307,000 | 339,000 | 144,000 | 1,541,000 | ||||||||||||||||||||||||||||||||
net decrease in deposits | -77,974,000 | -129,792,000 | -144,241,000 | -30,108,000 | ||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | 200,738,000 | -88,377,000 | 94,328,000 | -44,064,000 | 71,863,000 | -48,301,000 | -78,337,000 | -28,083,000 | -36,352,000 | -101,780,000 | -36,220,000 | |||||||||||||||||||||||||
right-of-use assets obtained in exchange for operating lease liabilities | 0 | 0 | 1,992,000 | |||||||||||||||||||||||||||||||||
initial amount recorded upon implementation on january 1, 2019. | ||||||||||||||||||||||||||||||||||||
net decrease in short-term borrowings | 770,000 | -4,918,000 | 2,128,000 | -2,587,000 | 624,000 | -3,828,000 | -657,000 | -1,580,000 | -42,271,000 | |||||||||||||||||||||||||||
net cash from in financing activities | 78,280,000 | |||||||||||||||||||||||||||||||||||
gain on retirement of trust preferred securities | 0 | 0 | ||||||||||||||||||||||||||||||||||
redemption of subordinated notes | 0 | 0 | ||||||||||||||||||||||||||||||||||
net decrease in loans held-for-sale | -51,000 | -3,401,000 | -28,000 | 413,000 | -715,000 | 3,388,000 | -1,988,000 | -1,248,000 | 2,767,000 | |||||||||||||||||||||||||||
benefit from loan losses | 826,000 | 310,000 | 0 | -97,000 | 452,000 | 513,000 | 413,000 | 375,000 | 293,000 | 1,450,000 | 1,070,000 | 2,766,000 | 2,864,000 | |||||||||||||||||||||||
impairment loss on security | 0 | 0 | ||||||||||||||||||||||||||||||||||
net increase in loans held-for-sale | -672,000 | 31,000 | 2,343,000 | -2,646,000 | ||||||||||||||||||||||||||||||||
net income on sales and write-downs of other real estate owned | 327,000 | |||||||||||||||||||||||||||||||||||
net decrease (increase) in other assets | -496,000 | 7,920,000 | ||||||||||||||||||||||||||||||||||
gain on partial retirement of trust preferred securities | ||||||||||||||||||||||||||||||||||||
loss on sales and write-downs of other real estate owned | 205,000 | 490,000 | 702,000 | 543,000 | 904,000 | 1,076,000 | 805,000 | 829,000 | 320,000 | 989,000 | 1,039,000 | 840,000 | 1,433,000 | 1,883,000 | 810,000 | 1,096,000 | ||||||||||||||||||||
transfer of current portion of long-term borrowings | 3,279,000 | 641,000 | 0 | 437,000 | 531,000 | 1,240,000 | 524,000 | 3,904,000 | 0 | 0 | ||||||||||||||||||||||||||
amortization of intangible assets | 0 | 32,000 | 48,000 | 68,000 | 108,000 | 108,000 | 1,011,000 | 2,917,000 | 1,459,000 | 4,376,000 | 2,917,000 | 1,459,000 | 4,601,000 | |||||||||||||||||||||||
gain on securities transactions | -2,000 | -95,000 | -65,000 | |||||||||||||||||||||||||||||||||
purchase of bank owned life insurance | ||||||||||||||||||||||||||||||||||||
income taxes (refunded) paid | 25,000 | 20,000 | ||||||||||||||||||||||||||||||||||
net decrease (increase) in loans held-for-sale | 1,157,000 | 2,338,000 | 442,000 | |||||||||||||||||||||||||||||||||
loss on sale or disposal of premises and equipment | 2,000 | 20,000 | ||||||||||||||||||||||||||||||||||
sales | 0 | 0 | 1,067,000 | 3,508,000 | 1,998,000 | 283,000 | ||||||||||||||||||||||||||||||
net cash from by investing activities | ||||||||||||||||||||||||||||||||||||
proceeds from other long-term borrowings | ||||||||||||||||||||||||||||||||||||
transfer of securities available for sale to held to maturity | ||||||||||||||||||||||||||||||||||||
stock based compensation | 317,000 | |||||||||||||||||||||||||||||||||||
loss on disposal of equipment | 0 | |||||||||||||||||||||||||||||||||||
loss on disposal of fixed assets | ||||||||||||||||||||||||||||||||||||
increase in other long-term borrowings | 9,521,000 | 0 | 2,666,000 | 11,623,000 | 3,809,000 | 1,700,000 | 1,700,000 | 3,250,000 | ||||||||||||||||||||||||||||
net decrease in loans | -8,695,000 | 18,615,000 | 36,892,000 | -2,831,000 | 17,143,000 | -13,216,000 | -2,727,000 | 88,212,000 | 67,966,000 | 33,060,000 | 54,636,000 | |||||||||||||||||||||||||
loss on impaired security | ||||||||||||||||||||||||||||||||||||
stock-based compensation | 427,000 | 216,000 | 131,000 | 44,000 | ||||||||||||||||||||||||||||||||
proceeds from sale of premises & equipment | ||||||||||||||||||||||||||||||||||||
issuance of common stock | 203,000 | 658,000 | 83,000 | 189,000 | 629,000 | 535,000 | 488,000 | 545,000 | 497,000 | 433,000 | 969,000 | |||||||||||||||||||||||||
income taxes paid, net of refunds received | ||||||||||||||||||||||||||||||||||||
securities available-for-sale: | ||||||||||||||||||||||||||||||||||||
net decrease (increase) in deferred income taxes | ||||||||||||||||||||||||||||||||||||
proceeds from sales of premises & equipment | 2,000 | 443,000 | 335,000 | 294,000 | 286,000 | |||||||||||||||||||||||||||||||
supplemental disclosure: | ||||||||||||||||||||||||||||||||||||
net cash from in investing activities | ||||||||||||||||||||||||||||||||||||
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||
adjustment to reconcile net income to cash from operating activities: | ||||||||||||||||||||||||||||||||||||
net securities amortization | 455,000 | 337,000 | 112,000 | 226,000 | 170,000 | 92,000 | 480,000 | |||||||||||||||||||||||||||||
origination of loans held-for-sale | -41,171,000 | -32,269,000 | -33,930,000 | -132,961,000 | -94,830,000 | -43,084,000 | -144,719,000 | |||||||||||||||||||||||||||||
net gain from sales of loans held-for sale | ||||||||||||||||||||||||||||||||||||
net decrease in deferred income taxes | ||||||||||||||||||||||||||||||||||||
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||
purchase of premises & equipment | -2,507,000 | -7,395,000 | -3,251,000 | -14,394,000 | -9,540,000 | -4,102,000 | -16,634,000 | |||||||||||||||||||||||||||||
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||
repurchase of common stock | -1,561,000 | -2,414,000 | -711,000 | -30,554,000 | -23,219,000 | -9,783,000 | -4,841,000 | |||||||||||||||||||||||||||||
net change in cash and cash equivalents | -9,391,000 | 41,761,000 | 79,030,000 | -66,587,000 | -4,694,000 | 8,501,000 | -29,948,000 | |||||||||||||||||||||||||||||
supplemental disclosures: | ||||||||||||||||||||||||||||||||||||
interest paid on deposits | 2,773,000 | 18,607,000 | 10,756,000 | 33,222,000 | 22,103,000 | 11,112,000 | 26,051,000 | |||||||||||||||||||||||||||||
interest paid on debt | 1,558,000 | 3,391,000 | 1,775,000 | 6,540,000 | 4,377,000 | 2,199,000 | 7,523,000 | |||||||||||||||||||||||||||||
taxes paid | 53,000 | 8,961,000 | 4,129,000 | 8,643,000 | 6,601,000 | 3,229,000 | 11,530,000 | |||||||||||||||||||||||||||||
loans transferred to other real estate | 3,886,000 | 2,828,000 | 1,490,000 | 863,000 | 638,000 | |||||||||||||||||||||||||||||||
issuance of common stock as non-cash compensation | 154,000 | 240,000 | 1,159,000 | 1,158,000 | 1,158,000 | 1,504,000 | ||||||||||||||||||||||||||||||
non-cash compensation | -11,000 | 17,000 | 157,000 | 135,000 | 63,000 | 63,000 | 1,504,000 | |||||||||||||||||||||||||||||
decrease in deferred income taxes | ||||||||||||||||||||||||||||||||||||
net cash from (used) in investing activities | ||||||||||||||||||||||||||||||||||||
increase in deposits | -2,384,000 | |||||||||||||||||||||||||||||||||||
a adjustments to reconcile net income to cash from operating activities: | ||||||||||||||||||||||||||||||||||||
gain on sale of portion of merchant services portfolio | ||||||||||||||||||||||||||||||||||||
proceeds from sale of portion of merchant services portfolio | ||||||||||||||||||||||||||||||||||||
iss issuance of common stock as non-cash compensation | ||||||||||||||||||||||||||||||||||||
increase in deferred income taxes | ||||||||||||||||||||||||||||||||||||
net decrease (increase) in loans | ||||||||||||||||||||||||||||||||||||
(decrease) in deposits | ||||||||||||||||||||||||||||||||||||
addition of new long-term borrowings | ||||||||||||||||||||||||||||||||||||
decrease in other long-term borrowings | -8,499,000 | |||||||||||||||||||||||||||||||||||
decrease (increase) in deferred income taxes | ||||||||||||||||||||||||||||||||||||
(gain) on securities transactions | ||||||||||||||||||||||||||||||||||||
increase (decrease) in other long-term borrowings | ||||||||||||||||||||||||||||||||||||
decrease in deposits | ||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||
(decrease) increase in deferred income taxes | -1,321,000 | |||||||||||||||||||||||||||||||||||
loss on securities transactions | ||||||||||||||||||||||||||||||||||||
net cash acquired from acquisitions | ||||||||||||||||||||||||||||||||||||
proceeds from subordinated notes payable | ||||||||||||||||||||||||||||||||||||
(decrease) increase in other long-term borrowings | ||||||||||||||||||||||||||||||||||||
cumulative effect adjustment to beginning retained earnings – sab 108 | ||||||||||||||||||||||||||||||||||||
cumulative effect adjustment to other comprehensive income to record minimum pension liability – sfas 158 | ||||||||||||||||||||||||||||||||||||
transfer of current portion of long-term borrowings to short-term borrowings | 10,199,000 | 199,000 | 13,061,000 | |||||||||||||||||||||||||||||||||
securities transactions | -7,000 | |||||||||||||||||||||||||||||||||||
net cash from provided by financing activities | -198,422,000 | |||||||||||||||||||||||||||||||||||
investment security gain | -7,000 | |||||||||||||||||||||||||||||||||||
gain on sale of investment securities | -7,000 | |||||||||||||||||||||||||||||||||||
net (decrease) increase in deposits | -39,593,000 | |||||||||||||||||||||||||||||||||||
loss on sale of investment securities | ||||||||||||||||||||||||||||||||||||
net cash acquired (used in) acquisitions | ||||||||||||||||||||||||||||||||||||
cumulative effect adjustment to beginning retained earnings - sab 108 | ||||||||||||||||||||||||||||||||||||
cumulative effect adjustment to other comprehensive income to record minimum pension liability - sfas 158 | ||||||||||||||||||||||||||||||||||||
loss (gain) on sale of investment securities | 4,000 | |||||||||||||||||||||||||||||||||||
net cash acquired in acquisition | ||||||||||||||||||||||||||||||||||||
proceeds from subordinated note payable |