Independent Bank Corporation(NASDAQ:IBCP) 
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposi...
Website: http://www.IndependentBank.com
Founded: 1864
Full Time Employees: 848
Sector: Financial Services
Industry: Banks-Regional
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2004-03-31 | 2003-09-30 |
|---|---|---|---|---|---|
interest income | |||||
interest and fees on loans | 50,941,000 | 50,576,000 | 49,953,000 | 30,126,000 | 30,945,000 |
securities available for sale | |||||
taxable | 2,308,000 | 2,592,000 | 2,477,000 | 3,094,000 | 2,727,000 |
tax-exempt | 2,488,000 | 2,535,000 | 2,600,000 | 2,229,000 | 2,134,000 |
other investments | 232,000 | 464,000 | 314,000 | 166,000 | 165,000 |
total interest income | 55,969,000 | 56,167,000 | 55,344,000 | 35,615,000 | 35,971,000 |
interest expense | |||||
deposits | 22,590,000 | 23,378,000 | 22,408,000 | 6,202,000 | 6,769,000 |
other borrowings | 2,964,000 | 2,313,000 | 3,304,000 | 4,038,000 | 3,943,000 |
total interest expense | 25,554,000 | 25,691,000 | 25,712,000 | 10,240,000 | 10,712,000 |
net interest income | 30,415,000 | 30,476,000 | 29,632,000 | 25,375,000 | 25,259,000 |
benefit from loan losses | 10,735,000 | 14,893,000 | 8,139,000 | ||
net interest income after benefit from loan losses | 19,680,000 | 15,583,000 | 21,493,000 | ||
non-interest income | |||||
service charges on deposit accounts | 6,565,000 | 6,380,000 | 4,888,000 | 3,641,000 | 3,855,000 |
mepco litigation settlement | |||||
net gains on assets | |||||
real estate mortgage loans | 1,094,000 | 1,238,000 | 1,081,000 | 1,059,000 | 5,652,000 |
securities | 52,000 | 128,000 | 79,000 | 493,000 | -1,314,000 |
visa check card interchange income | 1,287,000 | 1,292,000 | 950,000 | ||
real estate mortgage loan servicing | 633,000 | 712,000 | 527,000 | 201,000 | |
title insurance fees | 363,000 | 430,000 | 414,000 | 544,000 | 983,000 |
other income | 2,535,000 | 2,593,000 | 2,731,000 | 2,095,000 | 1,902,000 |
total non-interest income | 12,529,000 | 12,773,000 | 10,670,000 | 7,437,000 | 11,814,000 |
non-interest expense | |||||
compensation and employee benefits | 13,621,000 | 14,784,000 | 13,968,000 | 11,099,000 | 11,241,000 |
occupancy | 2,521,000 | 2,735,000 | 2,614,000 | 1,823,000 | 1,611,000 |
furniture, fixtures and equipment | 1,798,000 | 1,991,000 | 1,900,000 | ||
data processing | 1,753,000 | 1,912,000 | 1,438,000 | ||
advertising | 1,472,000 | 1,341,000 | 1,152,000 | ||
goodwill impairment | 343 | 343 | 343,000 | ||
other incomes | 7,207,000 | 7,130,000 | 6,129,000 | ||
total non-interest expense | 28,372,000 | 29,801,000 | 27,966,000 | 20,658,000 | 22,294,000 |
income from continuing operations before income tax | 3,837,000 | -1,445,000 | 4,197,000 | ||
income tax benefit | 160,000 | -1,553,000 | |||
income from continuing operations | 3,677,000 | 108,000 | 3,892,000 | ||
discontinued operations, net of tax | 48,000 | -151,000 | 351,000 | ||
net income | 3,725,000 | -43,000 | 4,243,000 | 8,443,000 | 10,320,000 |
yoy | -63.91% | ||||
qoq | -8762.79% | -101.01% | -49.75% | -18.19% | |
income per share from continuing operations | |||||
basic | 0.16 | 0.17 | |||
diluted | 0.16 | 0.17 | |||
net income per share | |||||
basic | 0.16 | 0.19 | 0.43 | 0.53 | |
diluted | 0.16 | 0.18 | 0.42 | 0.51 | |
dividends per common share | |||||
declared | 0.21 | 0.21 | 0.21 | 0.16 | 0.16 |
paid | 0.21 | 0.21 | 0.2 | 0.16 | 0.16 |
adjustments to reconcile net income to net cash from operating activities | |||||
proceeds from sales of loans held for sale | 227,692 | 149,444 | 70,293 | ||
disbursements for loans held for sale | -216,517 | -151,044 | -71,325 | ||
depreciation and amortization of premiums and accretion of discounts on securities and loans | -8,837 | -5,208 | -2,584 | ||
net gains on sales of real estate mortgage loans | -3,413 | -2,319 | -1,081 | ||
net gains on securities | -259 | -207 | -79 | ||
deferred loan fees | -1,168 | -206 | -82 | ||
share based compensation | 201 | ||||
increase in accrued income and other assets | -11,657 | -7,603 | 813 | ||
decrease in accrued expenses and other liabilities | -6,609 | -6,425 | -4,776 | ||
net cash from operating activities | 21,761 | 4,309 | 4,053 | ||
cash flow from (used in) investing activities | |||||
proceeds from the sale of securities available for sale | 56,184 | 15,491 | 6,367 | ||
proceeds from the maturity of securities available for sale | 31,970 | 28,802 | 8,790 | ||
principal payments received on securities available for sale | 24,089 | 16,823 | 8,094 | ||
purchases of securities available for sale | -63,516 | -47,102 | -19,000 | ||
purchase of federal reserve bank stock | -7,514 | ||||
proceeds from the redemption of federal home loan bank stock | |||||
increase in portfolio loans originated, net of principal payments | -26,122 | -9,704 | |||
acquisition of business offices, less cash paid | 210,053 | 210,053 | |||
settlement on business acquisition | |||||
proceeds from sale of insurance premium finance business | 175,901 | 175,901 | 175,901 | ||
capital expenditures | -7,669 | -4,600 | -2,642 | ||
net cash from investing activities | 393,376 | 385,664 | 391,698 | ||
cash flow from (used in) financing activities | |||||
net increase in total deposits | -287,855 | -216,302 | -107,505 | ||
net increase in short-term borrowings | -178,612 | -156,944 | -169,823 | ||
proceeds from federal home loan bank advances | 89,000 | 32,000 | 32,000 | ||
payments of federal home loan bank advances | -49,205 | -49,073 | -49,003 | ||
repayment of long-term debt | -1,500 | -1,000 | -500 | ||
net increase in financed premiums payable | 12,797 | 1,537 | -1,854 | ||
dividends paid | -14,105 | -9,338 | -4,584 | ||
repurchase of common stock | -5,989 | -5,989 | -5,989 | ||
proceeds from issuance of common stock | 143 | 186 | 68 | ||
proceeds from issuance of subordinated debt | 32,991 | 12,372 | |||
redemption of subordinated debt | -4,300 | -4,300 | |||
net cash from financing activities | -406,635 | -396,851 | -307,190 | ||
net increase in cash and cash equivalents | 8,502 | -6,878 | 88,561 | ||
change in cash and cash equivalents of discontinued operations | 167 | 167 | 167 | ||
cash and cash equivalents at beginning of period | 73,142 | 73,142 | 73,142 | ||
cash and cash equivalents at end of period | 81,811 | 66,431 | 161,870 | ||
cash paid during the period for | |||||
interest | 80,283 | 53,102 | 28,502 | ||
income taxes | 7,355 | 7,283 | 4 | ||
transfer of loans to other real estate | 5,562 | 3,892 | 1,059 | ||
transfer of loans to held for sale | 3,300 | 3,300 | |||
common stock issued for acquisition of business | |||||
see notes to interim consolidated financial statements | |||||
branch acquisition and conversion costs | -92,000 | 422,000 | |||
income tax expense | 305,000 | 2,910,000 | 3,890,000 | ||
increase portfolio loans originated, net of principal payments | 4,135 | ||||
acquisition of business offices, less cash received | 210,053 | ||||
provision for loan losses | 801,000 | 569,000 | |||
net interest income after provision for loan losses | 24,574,000 | 24,690,000 | |||
net gains on asset sales | |||||
manufactured home loan origination fees | 289,000 | ||||
furniture and fixtures | 1,390,000 | 1,381,000 | |||
other expenses | 6,346,000 | 7,078,000 | |||
income before income tax | 11,353,000 | 14,210,000 | |||
and commissions | 535,000 | ||||
loss on prepayment of borrowings | 983,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2015-03-31 | 2007-12-31 | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2006-12-31 | 2006-03-31 | 2005-12-31 | 2003-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||
cash and due from banks | 48,475,000 | 52,235,000 | 56,378,000 | 74,354,000 | 60,566,000 | 61,503,000 | 54,910,000 | 41,646,000 | 68,208,000 | 58,567,000 | 61,225,000 | 47,823,000 | 57,059,000 | 56,516,000 | 46,600,000 | 49,946,000 | 46,242,000 | 49,220,000 | 48,753,000 | 38,662,000 | 34,461,000 | 46,435,000 | 79,289,000 | 76,000,000 | 66,431,000 | 67,209,000 | 73,142,000 | 62,117,000 | 67,586,000 | 54,633,000 |
interest bearing deposits | 126,440,000 | 86,152,000 | 152,308,000 | 71,805,000 | 67,579,000 | 60,057,000 | 159,438,000 | 120,198,000 | 101,573,000 | 68,894,000 | 67,967,000 | 179,196,000 | 13,573,000 | 2,970,000 | 63,221,000 | 75,675,000 | 23,012,000 | 81,287,000 | 21,538,000 | 43,755,000 | 20,676,000 | 55,117,000 | ||||||||
cash and cash equivalents | 174,915,000 | 138,387,000 | 208,686,000 | 146,159,000 | 128,145,000 | 121,560,000 | 214,348,000 | 161,844,000 | 169,781,000 | 127,461,000 | 129,192,000 | 227,019,000 | 70,632,000 | 59,486,000 | 109,821,000 | 125,621,000 | 69,254,000 | 130,507,000 | 70,291,000 | 82,417,000 | 55,137,000 | 101,552,000 | 81,811,000 | 161,870,000 | ||||||
securities available for sale | 482,295,000 | 495,909,000 | 502,583,000 | 509,511,000 | 529,676,000 | 588,950,000 | 591,974,000 | 613,620,000 | 679,350,000 | 684,641,000 | 731,777,000 | 767,526,000 | 804,272,000 | 859,704,000 | 1,400,137,000 | 1,348,378,000 | 1,330,660,000 | 1,247,280,000 | 594,284,000 | 439,592,000 | 430,305,000 | 571,762,000 | 364,194,000 | 383,559,000 | 415,677,000 | 430,949,000 | 434,785,000 | 470,844,000 | 483,447,000 | 437,687,000 |
securities held to maturity | 301,007,000 | 309,523,000 | 321,450,000 | 329,302,000 | 336,928,000 | 343,362,000 | 344,220,000 | 349,957,000 | 353,988,000 | 358,899,000 | 360,926,000 | 369,577,000 | 379,429,000 | 381,608,000 | ||||||||||||||||
federal home loan bank and federal reserve bank stock, at cost | 18,102,000 | 18,102,000 | 18,102,000 | 18,102,000 | 15,587,000 | 16,099,000 | 16,099,000 | 16,821,000 | 16,821,000 | 16,821,000 | 18,131,000 | 17,653,000 | 17,653,000 | 17,653,000 | 17,653,000 | 18,427,000 | 18,427,000 | 18,427,000 | 18,359,000 | 18,359,000 | 18,359,000 | 20,051,000 | 21,839,000 | 21,839,000 | ||||||
loans held for sale, carried at fair value | 19,714,000 | 9,031,000 | 11,654,000 | 12,492,000 | 9,514,000 | 14,029,000 | 15,935,000 | 8,935,000 | 12,063,000 | 13,979,000 | 20,270,000 | 16,935,000 | 9,091,000 | 31,400,000 | 29,514,000 | 78,731,000 | 59,752,000 | 77,799,000 | 64,549,000 | 87,358,000 | 62,883,000 | 30,932,000 | ||||||||
loans | ||||||||||||||||||||||||||||||
commercial | 2,267,369,000 | 2,213,557,000 | 2,125,053,000 | 2,068,081,000 | 1,992,187,000 | 1,825,247,000 | 1,732,353,000 | 1,735,284,000 | 1,679,731,000 | 1,626,122,000 | 1,538,162,000 | 1,471,293,000 | 1,408,230,000 | 1,329,198,000 | 1,257,601,000 | 1,222,802,000 | 1,244,547,000 | 1,301,223,000 | 1,181,599,000 | 1,189,017,000 | 1,175,970,000 | 710,323,000 | 1,066,276,000 | 1,064,976,000 | 1,079,769,000 | 1,081,502,000 | 1,083,921,000 | 1,040,145,000 | 1,030,095,000 | 594,462,000 |
mortgage | 1,520,358,000 | 1,524,821,000 | 1,517,656,000 | 1,528,360,000 | 1,512,807,000 | 1,511,400,000 | 1,501,377,000 | 1,490,441,000 | 1,485,872,000 | 1,475,908,000 | 1,441,398,000 | 1,408,229,000 | 1,354,879,000 | 1,284,169,000 | 1,170,059,000 | 1,100,992,000 | 1,045,108,000 | 999,982,000 | 1,069,967,000 | 1,070,035,000 | 1,086,309,000 | 465,907,000 | ||||||||
installment | 520,372,000 | 537,907,000 | 555,574,000 | 567,926,000 | 567,697,000 | 605,640,000 | 618,159,000 | 614,240,000 | 625,298,000 | 639,456,000 | 651,554,000 | 630,287,000 | 646,749,000 | 645,483,000 | 576,405,000 | 560,184,000 | 524,904,000 | 483,019,000 | 466,549,000 | 463,394,000 | 444,247,000 | 207,962,000 | 368,478,000 | 370,336,000 | 364,195,000 | 354,705,000 | 350,273,000 | 312,254,000 | 304,053,000 | 237,820,000 |
total loans | 4,308,099,000 | 4,276,285,000 | 4,198,283,000 | 4,164,367,000 | 4,072,691,000 | 3,942,287,000 | 3,851,889,000 | 3,839,965,000 | 3,790,901,000 | 3,741,486,000 | 3,631,114,000 | 3,509,809,000 | 3,409,858,000 | 3,258,850,000 | 3,004,065,000 | 2,883,978,000 | 2,814,559,000 | 2,784,224,000 | 2,718,115,000 | 2,722,446,000 | 2,706,526,000 | 1,422,959,000 | 2,546,896,000 | 2,511,077,000 | 2,493,609,000 | 2,484,347,000 | 2,483,395,000 | 2,614,946,000 | 1,615,565,000 | |
allowance for credit losses | -63,719,000 | -63,445,000 | -62,459,000 | -61,157,000 | -60,035,000 | -57,444,000 | -56,241,000 | -56,313,000 | -54,658,000 | -55,495,000 | -53,964,000 | -50,550,000 | -51,142,000 | -47,883,000 | -45,627,000 | -46,799,000 | -45,926,000 | -46,755,000 | ||||||||||||
net loans | 4,244,380,000 | 4,212,840,000 | 4,135,824,000 | 4,103,210,000 | 4,012,656,000 | 3,884,843,000 | 3,795,648,000 | 3,783,652,000 | 3,736,243,000 | 3,685,991,000 | 3,577,150,000 | 3,459,259,000 | 3,358,716,000 | 3,210,967,000 | 2,958,438,000 | 2,837,179,000 | 2,768,633,000 | 2,737,469,000 | 2,685,620,000 | 2,696,298,000 | 2,680,623,000 | 1,398,280,000 | 2,501,602,000 | 2,468,750,000 | 2,455,396,000 | 2,453,439,000 | 2,456,516,000 | 2,591,452,000 | 1,597,717,000 | |
other real estate and repossessed assets | 767,000 | 896,000 | 589,000 | 426,000 | 413,000 | 781,000 | 945,000 | 1,059,000 | 569,000 | 443,000 | 658,000 | 499,000 | 348,000 | 508,000 | 438,000 | 224,000 | 296,000 | 346,000 | 1,494,000 | 1,789,000 | 1,990,000 | 5,662,000 | ||||||||
property and equipment | 42,319,000 | 38,972,000 | 38,805,000 | 38,409,000 | 37,369,000 | 35,250,000 | 35,041,000 | 34,587,000 | 35,523,000 | 35,346,000 | 36,157,000 | 35,764,000 | 35,711,000 | 36,148,000 | 37,385,000 | 36,623,000 | 36,507,000 | 36,736,000 | 37,776,000 | 37,424,000 | 37,703,000 | 45,220,000 | 73,558,000 | 73,122,000 | 72,020,000 | 72,230,000 | 67,992,000 | 65,568,000 | 63,173,000 | 43,330,000 |
bank-owned life insurance | 54,072,000 | 53,750,000 | 53,875,000 | 53,587,000 | 53,721,000 | 54,017,000 | 53,821,000 | 53,633,000 | 54,341,000 | 54,631,000 | 54,507,000 | 55,314,000 | 55,146,000 | 55,088,000 | 54,984,000 | 55,124,000 | 55,446,000 | 55,318,000 | 55,035,000 | 55,412,000 | 55,580,000 | 53,975,000 | ||||||||
capitalized mortgage loan servicing rights, carried at fair value | 32,233,000 | 31,493,000 | 31,522,000 | 32,053,000 | 32,171,000 | 40,204,000 | 44,406,000 | 43,577,000 | 42,243,000 | 46,057,000 | 44,427,000 | 41,923,000 | 43,158,000 | 39,477,000 | 35,933,000 | 24,208,000 | 22,431,000 | 23,530,000 | 14,829,000 | 16,906,000 | 17,894,000 | |||||||||
other intangibles | 886,000 | 1,001,000 | 1,123,000 | 1,244,000 | 1,366,000 | 1,617,000 | 1,746,000 | 1,875,000 | 2,004,000 | 2,141,000 | 2,278,000 | 2,415,000 | 2,697,000 | 2,871,000 | 3,104,000 | 3,579,000 | 3,821,000 | 4,063,000 | 5,071,000 | 5,598,000 | 5,870,000 | 2,540,000 | 15,262,000 | 16,196,000 | 17,130,000 | 18,065,000 | 7,854,000 | 10,086,000 | 10,729,000 | 8,017,000 |
goodwill | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 28,300,000 | 66,754,000 | 66,754,000 | 66,754,000 | 66,735,000 | 48,709,000 | 56,417,000 | 55,946,000 | 16,289,000 | |
accrued income and other assets | 158,519,000 | 167,516,000 | 140,600,000 | 145,724,000 | 142,582,000 | 130,256,000 | 134,145,000 | 133,395,000 | 132,500,000 | 145,308,000 | 131,791,000 | 116,750,000 | 126,224,000 | 102,999,000 | 86,276,000 | 65,946,000 | 67,745,000 | 66,665,000 | 52,499,000 | 41,490,000 | 40,414,000 | 22,797,000 | 76,690,000 | 74,115,000 | 72,122,000 | 62,102,000 | 64,188,000 | 59,455,000 | 56,899,000 | 37,869,000 |
total assets | 5,557,509,000 | 5,505,720,000 | 5,493,113,000 | 5,418,519,000 | 5,328,428,000 | 5,259,268,000 | 5,277,500,000 | 5,231,255,000 | 5,263,726,000 | 5,200,018,000 | 5,135,564,000 | 5,138,934,000 | 4,931,377,000 | 4,826,209,000 | 4,761,983,000 | 4,622,340,000 | 4,461,272,000 | 4,426,440,000 | 3,632,387,000 | 3,550,837,000 | 3,438,302,000 | 2,329,296,000 | 3,276,082,000 | 3,256,284,000 | 3,261,257,000 | 3,355,571,000 | 3,429,898,000 | 3,402,774,000 | 2,315,762,000 | |
liabilities and shareholders' equity | ||||||||||||||||||||||||||||||
deposits | ||||||||||||||||||||||||||||||
non-interest bearing | 991,140,000 | 991,984,000 | 1,003,521,000 | 1,007,976,000 | 989,928,000 | 1,023,739,000 | 1,049,625,000 | 1,034,605,000 | 1,076,093,000 | 1,141,641,000 | 1,155,537,000 | 1,192,396,000 | 1,376,765,000 | 1,357,824,000 | 1,318,377,000 | 1,297,096,000 | 1,298,282,000 | 1,301,842,000 | 874,935,000 | 883,138,000 | 864,481,000 | 620,598,000 | 294,332,000 | 299,828,000 | 321,903,000 | 318,238,000 | 282,632,000 | 284,925,000 | 295,151,000 | 195,871,000 |
savings and interest-bearing checking | 2,146,403,000 | 2,113,260,000 | 2,040,462,000 | 1,989,941,000 | 2,017,800,000 | 1,947,571,000 | 1,926,065,000 | 1,935,451,000 | 1,905,701,000 | 1,929,947,000 | 1,929,021,000 | 1,975,098,000 | 1,957,421,000 | 1,961,124,000 | 1,972,462,000 | 1,803,763,000 | 1,699,463,000 | 1,670,106,000 | 1,229,999,000 | 1,178,695,000 | 1,158,910,000 | 988,776,000 | ||||||||
reciprocal | 1,028,874,000 | 974,921,000 | 981,115,000 | 911,814,000 | 910,526,000 | 995,469,000 | 925,828,000 | 893,643,000 | 832,020,000 | 799,883,000 | 720,985,000 | 685,458,000 | 616,435,000 | 615,204,000 | 605,332,000 | 596,193,000 | 589,493,000 | 608,689,000 | 464,574,000 | 416,200,000 | 326,326,000 | 58,705,000 | ||||||||
time | 657,043,000 | 662,858,000 | 660,815,000 | 627,986,000 | 635,172,000 | 620,446,000 | 585,561,000 | 570,130,000 | 524,325,000 | 477,928,000 | 431,249,000 | 407,267,000 | 308,262,000 | 316,425,000 | 306,382,000 | 312,085,000 | 272,305,000 | 275,022,000 | 359,050,000 | 374,579,000 | 384,477,000 | 1,223,496,000 | 1,383,903,000 | 1,487,890,000 | 1,551,708,000 | 1,444,618,000 | 1,526,784,000 | 1,484,629,000 | 754,720,000 | |
brokered time | 57,220,000 | 18,659,000 | 173,242,000 | 121,642,000 | 80,505,000 | 39,650,000 | 127,249,000 | 148,585,000 | 284,740,000 | 236,213,000 | 250,844,000 | 284,530,000 | 68,145,000 | 39,997,000 | 2,945,000 | 2,931,000 | 2,923,000 | 2,916,000 | 155,006,000 | 199,700,000 | 244,691,000 | 1,299,000 | ||||||||
total deposits | 4,880,680,000 | 4,761,682,000 | 4,859,155,000 | 4,659,359,000 | 4,633,931,000 | 4,626,875,000 | 4,614,328,000 | 4,582,414,000 | 4,622,879,000 | 4,585,612,000 | 4,487,636,000 | 4,544,749,000 | 4,327,028,000 | 4,290,574,000 | 4,205,498,000 | 4,012,068,000 | 3,862,466,000 | 3,858,575,000 | 3,083,564,000 | 3,052,312,000 | 2,978,885,000 | 2,000,473,000 | 2,505,127,000 | 2,725,329,000 | 2,794,151,000 | 2,903,532,000 | 2,602,791,000 | 2,690,977,000 | 1,639,358,000 | |
other borrowings | 27,010,000 | 77,003,000 | 2,006,000 | 102,008,000 | 45,014,000 | 50,012,000 | 49,977,000 | 50,026,000 | 50,014,000 | 90,015,000 | 50,029,000 | 86,707,000 | 25,507,000 | 30,006,000 | 30,007,000 | 30,005,000 | 30,006,000 | 101,954,000 | 63,974,000 | 41,144,000 | 12,468,000 | 302,539,000 | 107,445,000 | 55,228,000 | 60,436,000 | 163,681,000 | 170,163,000 | 227,047,000 | 346,190,000 | |
subordinated debentures | 39,881,000 | 39,864,000 | 39,847,000 | 39,830,000 | 39,813,000 | 39,779,000 | 39,762,000 | 39,745,000 | 39,728,000 | 39,711,000 | 39,694,000 | 39,677,000 | 39,643,000 | 39,626,000 | 39,609,000 | 39,575,000 | 39,558,000 | 39,541,000 | 39,473,000 | 39,439,000 | 39,422,000 | 35,569,000 | 92,888,000 | 92,888,000 | 72,269,000 | 64,197,000 | 64,197,000 | 64,197,000 | 64,197,000 | |
accrued expenses and other liabilities | 99,385,000 | 124,220,000 | 101,363,000 | 108,448,000 | 102,788,000 | 100,678,000 | 103,391,000 | 104,020,000 | 107,134,000 | 110,192,000 | 103,585,000 | 97,313,000 | 106,277,000 | 99,973,000 | 92,045,000 | 101,321,000 | 93,950,000 | 71,689,000 | 71,778,000 | 54,867,000 | 48,005,000 | 24,849,000 | 35,629,000 | 36,618,000 | 39,344,000 | 40,728,000 | 40,538,000 | 53,312,000 | 59,611,000 | 31,099,000 |
total liabilities | 5,046,956,000 | 5,002,769,000 | 5,002,371,000 | 4,949,269,000 | 4,861,151,000 | 4,806,899,000 | 4,847,041,000 | 4,815,685,000 | 4,859,277,000 | 4,825,020,000 | 4,760,402,000 | 4,771,220,000 | 4,599,069,000 | 4,495,075,000 | 4,406,534,000 | 4,222,309,000 | 4,065,298,000 | 4,039,111,000 | 3,296,769,000 | 3,210,592,000 | 3,107,456,000 | 2,075,671,000 | 3,035,580,000 | 3,011,851,000 | 3,017,223,000 | 3,103,754,000 | 3,171,731,000 | 3,154,007,000 | 2,161,113,000 | |
commitments and contingent liabilities | ||||||||||||||||||||||||||||||
shareholders’ equity | ||||||||||||||||||||||||||||||
preferred stock, no par value, 200,000 shares authorized; none issued or outstanding | ||||||||||||||||||||||||||||||
common stock | 307,679,000 | 307,845,000 | 311,770,000 | 311,653,000 | 318,365,000 | 318,216,000 | 317,676,000 | 317,099,000 | 317,483,000 | 317,145,000 | 318,241,000 | 321,026,000 | 320,437,000 | 319,885,000 | 321,981,000 | 326,390,000 | 332,457,000 | 335,704,000 | 338,528,000 | 351,839,000 | 351,894,000 | 351,881,000 | 22,601,000 | 22,599,000 | 22,586,000 | 22,584,000 | 22,865,000 | 21,725,000 | ||
retained earnings | 263,898,000 | 252,794,000 | 239,602,000 | 227,484,000 | 215,995,000 | 192,405,000 | 183,611,000 | 170,100,000 | 159,108,000 | 150,157,000 | 137,431,000 | 127,499,000 | 108,916,000 | 96,252,000 | 87,882,000 | 66,543,000 | 55,101,000 | 47,287,000 | 1,944,000 | 22,770,000 | 25,094,000 | 26,138,000 | 30,924,000 | 31,420,000 | 49,701,000 | 41,486,000 | 11,094,000 | |||
accumulated other comprehensive loss | -61,024,000 | -57,688,000 | -60,630,000 | -69,887,000 | -67,083,000 | -58,252,000 | -70,828,000 | -71,629,000 | -72,142,000 | -92,304,000 | -80,510,000 | -80,811,000 | -4,854,000 | -3,373,000 | -4,431,000 | -4,202,000 | ||||||||||||||
total shareholders’ equity | 510,553,000 | 502,951,000 | 490,742,000 | 469,250,000 | 467,277,000 | 452,369,000 | 430,459,000 | 415,570,000 | 404,449,000 | 374,998,000 | 375,162,000 | 367,714,000 | 332,308,000 | 331,134,000 | 355,449,000 | 400,031,000 | 395,974,000 | 387,329,000 | 335,618,000 | 340,245,000 | 330,846,000 | 253,625,000 | 240,502,000 | 244,433,000 | 244,034,000 | 251,817,000 | 258,167,000 | 248,767,000 | ||
total liabilities and shareholders’ equity | 5,557,509,000 | 5,505,720,000 | 5,493,113,000 | 5,418,519,000 | 5,328,428,000 | 5,259,268,000 | 5,277,500,000 | 5,231,255,000 | 5,263,726,000 | 5,200,018,000 | 5,135,564,000 | 5,138,934,000 | 4,931,377,000 | 4,826,209,000 | 4,761,983,000 | 4,622,340,000 | 4,461,272,000 | 4,426,440,000 | 3,632,387,000 | 3,550,837,000 | 3,438,302,000 | 2,329,296,000 | 3,276,082,000 | 3,256,284,000 | 3,261,257,000 | 3,355,571,000 | 3,429,898,000 | 3,402,774,000 | ||
liabilities and shareholders’ equity | ||||||||||||||||||||||||||||||
subordinated debt | 39,624,000 | 39,605,000 | 39,567,000 | 39,548,000 | 39,529,000 | 39,510,000 | 39,491,000 | 39,472,000 | 39,452,000 | 39,414,000 | 39,395,000 | 39,376,000 | 39,338,000 | 39,319,000 | 39,300,000 | |||||||||||||||
equity securities at fair value | 872,000 | |||||||||||||||||||||||||||||
loans held for sale, carried at lower of cost or fair value | 36,622,000 | |||||||||||||||||||||||||||||
accumulated other comprehensive income | -97,045,000 | -85,003,000 | -54,414,000 | 7,098,000 | 8,416,000 | 4,338,000 | -171,000 | 1,534,000 | 296,000 | 3,407,000 | 3,641,000 | 4,569,000 | 4,869,000 | 4,595,000 | ||||||||||||||||
interest bearing deposits - time | 499,000 | 498,000 | 11,575,000 | |||||||||||||||||||||||||||
allowance for loan losses | -32,495,000 | -26,148,000 | -25,903,000 | -24,679,000 | -45,294,000 | -42,327,000 | -38,213,000 | -30,908,000 | -26,879,000 | -23,494,000 | -23,035,000 | -17,848,000 | ||||||||||||||||||
deferred tax assets | 4,280,000 | 2,773,000 | 2,746,000 | 46,190,000 | ||||||||||||||||||||||||||
accumulated deficit | -8,221,000 | -16,617,000 | -94,054,000 | |||||||||||||||||||||||||||
trading securities | 213,000 | |||||||||||||||||||||||||||||
payment plan receivables | 38,767,000 | |||||||||||||||||||||||||||||
capitalized mortgage loan servicing rights | 11,318,000 | |||||||||||||||||||||||||||||
vehicle service contract counterparty receivables | 7,229,000 | |||||||||||||||||||||||||||||
retail time | 331,095,000 | |||||||||||||||||||||||||||||
vehicle service contract counterparty payables | 2,312,000 | |||||||||||||||||||||||||||||
loans held for sale | 33,960,000 | 27,384,000 | 39,065,000 | 33,959,000 | 31,846,000 | 29,643,000 | 28,569,000 | 69,780,000 | ||||||||||||||||||||||
real estate mortgage | 873,945,000 | 848,326,000 | 849,783,000 | 858,288,000 | 865,522,000 | 860,855,000 | 852,742,000 | 657,723,000 | ||||||||||||||||||||||
finance receivables | 238,197,000 | 227,439,000 | 199,862,000 | 189,852,000 | 183,679,000 | 401,692,000 | 368,871,000 | 125,560,000 | ||||||||||||||||||||||
bank owned life insurance | 42,934,000 | 42,471,000 | 42,001,000 | 41,557,000 | 41,109,000 | 39,870,000 | 39,451,000 | 36,545,000 | ||||||||||||||||||||||
assets of discontinued operations | 283,000 | 336,000 | 339,000 | 189,432,000 | ||||||||||||||||||||||||||
savings and now | 987,299,000 | 1,041,598,000 | 984,358,000 | 1,033,586,000 | 875,541,000 | 879,268,000 | 861,277,000 | 688,767,000 | ||||||||||||||||||||||
federal funds purchased | 54,452,000 | 17,517,000 | 84,081,000 | 133,215,000 | 80,299,000 | 67,460,000 | ||||||||||||||||||||||||
financed premiums payable | 44,911,000 | 49,512,000 | 38,252,000 | 34,861,000 | 32,767,000 | 42,143,000 | 35,378,000 | 26,406,000 | ||||||||||||||||||||||
liabilities of discontinued operations | 34,000 | 59,000 | 462,000 | 183,676,000 | ||||||||||||||||||||||||||
preferred stock, no par value — 200,000 shares authorized; none issued or outstanding | ||||||||||||||||||||||||||||||
capital surplus | 195,302,000 | 195,206,000 | 195,014,000 | 194,902,000 | 200,241,000 | 172,772,000 | 179,913,000 | 119,434,000 | ||||||||||||||||||||||
federal funds sold | 5,811,000 | |||||||||||||||||||||||||||||
preferred stock, no par value—200,000 shares authorized; none outstanding | ||||||||||||||||||||||||||||||
federal home loan bank stock, at cost | 14,325,000 | 14,326,000 | 14,325,000 | 17,322,000 | 17,322,000 | 13,895,000 | ||||||||||||||||||||||||
federal funds sold and other overnight investments | 94,661,000 | |||||||||||||||||||||||||||||
guaranteed preferred beneficial interests in | ||||||||||||||||||||||||||||||
company's subordinated debentures | 50,600,000 | |||||||||||||||||||||||||||||
shareholders' equity | ||||||||||||||||||||||||||||||
preferred stock, no par value--200,000 shares authorized; | ||||||||||||||||||||||||||||||
none outstanding | ||||||||||||||||||||||||||||||
issued and outstanding: 19,525,840 shares at september 30, 2003 | ||||||||||||||||||||||||||||||
and 17,822,090 shares at december 31, 2002 | 19,526,000 | |||||||||||||||||||||||||||||
total shareholders' equity | 154,649,000 | |||||||||||||||||||||||||||||
total liabilities and shareholders' equity | 2,315,762,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2015-03-31 | 2007-12-31 | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2006-03-31 | 2005-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
net income | 16,875,000 | 18,572,000 | 17,502,000 | 16,877,000 | 15,590,000 | 13,810,000 | 18,528,000 | 15,991,000 | 17,543,000 | 14,790,000 | 12,991,000 | 17,297,000 | 13,001,000 | 17,967,000 | 15,962,000 | 12,388,000 | 22,037,000 | 4,810,000 | 12,445,000 | 16,330,000 | 3,781,000 | 2,432,000 | 3,725,000 | -43,000 | 4,243,000 | 12,343,000 | 18,644,000 |
adjustments to reconcile net income to net cash from operating activities | |||||||||||||||||||||||||||
proceeds from sales of loans held for sale | 84,635,000 | 85,183,000 | 98,707,000 | 90,446,000 | 75,999,000 | 111,955,000 | 91,913,000 | 75,178,000 | 117,588,000 | 90,750,000 | 65,428,000 | 97,347,000 | 144,220,000 | 190,618,000 | 277,914,000 | 315,682,000 | 392,844,000 | 241,856,000 | 199,604,000 | 152,296,000 | 70,657,000 | 65,451,000 | 78,248,000 | 79,151,000 | 70,293,000 | 61,273,000 | -403,120,000 |
disbursements for loans held for sale | -94,075,000 | -81,188,000 | -96,395,000 | -91,877,000 | -75,684,000 | -108,136,000 | -97,599,000 | -70,800,000 | -109,198,000 | -91,973,000 | -54,430,000 | -72,336,000 | -144,853,000 | -164,232,000 | -298,113,000 | -288,544,000 | -365,381,000 | -227,765,000 | -218,402,000 | -157,382,000 | -75,788,000 | -74,423,000 | -65,473,000 | -79,719,000 | -71,325,000 | -61,321,000 | |
provision for credit losses | 362,000 | 1,923,000 | 1,991,000 | 1,500,000 | 721,000 | ||||||||||||||||||||||
deferred income tax benefit | 1,397,000 | ||||||||||||||||||||||||||
net deferred loan fees | 470,000 | 823,000 | 488,000 | -482,000 | 814,000 | 127,000 | 160,000 | -1,114,000 | -4,863,000 | -3,327,000 | 2,982,000 | ||||||||||||||||
net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities and loans | 2,372,000 | 2,388,000 | 2,761,000 | 2,405,000 | 2,352,000 | 2,509,000 | 2,504,000 | 2,509,000 | 2,529,000 | 2,524,000 | 2,425,000 | 2,606,000 | 2,866,000 | 2,868,000 | |||||||||||||
net gains on mortgage loans | -1,308,000 | -1,372,000 | -1,474,000 | -1,631,000 | -2,303,000 | -2,177,000 | -1,333,000 | -1,364,000 | -2,099,000 | -2,120,000 | -1,256,000 | -2,857,000 | -1,253,000 | -835,000 | -8,361,000 | -9,091,000 | -12,828,000 | -8,840,000 | -5,677,000 | -5,774,000 | -2,139,000 | ||||||
net losses on sales of securities available for sale | 26,000 | 15,000 | |||||||||||||||||||||||||
net loss on sale of capitalized mortgage loan servicing rights | |||||||||||||||||||||||||||
share based compensation | 688,000 | 748,000 | 571,000 | 639,000 | 758,000 | 574,000 | 579,000 | 591,000 | 624,000 | 477,000 | 569,000 | 535,000 | 543,000 | 511,000 | 499,000 | 505,000 | 442,000 | 547,000 | 460,000 | 515,000 | 373,000 | 106,000 | |||||
decrease in accrued income and other assets | 4,137,000 | 1,995,000 | -1,861,000 | 16,386,000 | |||||||||||||||||||||||
decrease in accrued expenses and other liabilities | -24,736,000 | -2,228,000 | -7,226,000 | -828,000 | -623,000 | 4,941,000 | -8,106,000 | -2,385,000 | -681,000 | -184,000 | -1,649,000 | -4,776,000 | |||||||||||||||
total adjustments | -26,032,000 | -10,778,000 | 698,000 | 2,092,000 | 16,109,000 | 3,392,000 | -9,781,000 | 4,842,000 | 7,897,000 | -5,001,000 | 10,568,000 | 16,946,000 | 9,553,000 | 20,604,000 | -26,648,000 | 19,145,000 | 13,028,000 | 17,472,000 | -20,322,000 | -83,000 | -6,091,000 | ||||||
net cash from operating activities | -9,157,000 | 7,794,000 | 18,200,000 | 18,969,000 | 31,699,000 | 17,202,000 | 8,747,000 | 20,833,000 | 25,440,000 | 9,789,000 | 23,559,000 | 34,243,000 | 22,554,000 | 38,571,000 | -10,686,000 | 31,533,000 | 35,065,000 | 22,282,000 | -7,877,000 | 16,247,000 | -2,310,000 | -4,114,000 | 17,452,000 | 256,000 | 4,053,000 | 634,000 | |
cash flow from investing activities | |||||||||||||||||||||||||||
proceeds from the sale of securities available for sale | 3,256,000 | 1,612,000 | 4,225,000 | 3,853,000 | 22,503,000 | 2,158,000 | 0 | 37,273,000 | 0 | 0 | 278,000 | 0 | 66,128,000 | 4,395,000 | 505,000 | 2,999,000 | 78,179,000 | 21,743,000 | 2,069,000 | 30,450,000 | 11,786,000 | 5,336,000 | 40,693,000 | 9,124,000 | 6,367,000 | 41,309,000 | |
proceeds from maturities, prepayments and calls of securities available for sale | 14,716,000 | 14,858,000 | 22,959,000 | 20,669,000 | 11,105,000 | 16,798,000 | 21,757,000 | 27,484,000 | 29,802,000 | 31,771,000 | 27,742,000 | 32,317,000 | 41,190,000 | 64,098,000 | 83,748,000 | 114,933,000 | 107,834,000 | 42,744,000 | 33,938,000 | ||||||||
proceeds from maturities, prepayments and calls of securities held to maturity | 9,059,000 | 12,522,000 | 10,476,000 | 8,250,000 | 3,122,000 | 4,845,000 | 6,667,000 | 2,724,000 | 3,993,000 | 9,418,000 | 3,334,000 | 5,673,000 | |||||||||||||||
purchases of securities available for sale | -5,432,000 | -6,506,000 | -8,448,000 | -8,509,000 | -1,000,000 | 0 | -12,990,000 | -124,560,000 | -101,492,000 | -178,967,000 | -367,654,000 | -103,901,000 | -41,599,000 | -4,105,000 | -77,534,000 | -1,850,000 | -16,414,000 | -28,102,000 | -19,000,000 | -400,000 | |||||||
purchases of federal home loan bank stock | 0 | -2,515,000 | -697,000 | 0 | |||||||||||||||||||||||
proceeds from the redemption of federal home loan bank stock | 0 | 0 | 0 | 1,209,000 | 0 | 0 | 0 | 774,000 | |||||||||||||||||||
net increase in portfolio loans | -35,399,000 | -82,235,000 | -39,516,000 | -97,428,000 | -41,952,000 | -93,108,000 | -12,216,000 | -58,407,000 | -112,820,000 | -132,584,000 | -66,329,000 | -173,361,000 | -251,239,000 | -96,682,000 | -62,923,000 | -26,302,000 | -52,939,000 | -22,432,000 | -60,860,000 | -139,086,000 | -13,170,000 | ||||||
proceeds from the sale of portfolio loans | 1,465,000 | 2,372,000 | 4,534,000 | 6,776,000 | 8,912,000 | 6,627,000 | 1,372,000 | 6,808,000 | 0 | 10,244,000 | 41,237,000 | 22,694,000 | 0 | 33,755,000 | 2,395,000 | 9,886,000 | |||||||||||
proceeds from bank-owned life insurance | -1,000 | 431,000 | 431,000 | 0 | 0 | 889,000 | 0 | 0 | 0 | 433,000 | 945,000 | ||||||||||||||||
proceeds from the sale of other real estate and repossessed assets | 226,000 | 129,000 | -202,000 | 114,000 | 823,000 | 325,000 | 325,000 | 172,000 | 214,000 | 141,000 | 243,000 | 203,000 | 394,000 | 138,000 | 106,000 | 121,000 | 733,000 | 328,000 | 630,000 | -1,040,000 | 1,848,000 | ||||||
proceeds from the sale of property and equipment | 23,000 | 0 | 0 | 299,000 | |||||||||||||||||||||||
capital expenditures | -4,609,000 | -1,437,000 | -1,656,000 | -2,279,000 | -1,122,000 | -1,492,000 | -1,773,000 | -676,000 | -1,440,000 | -1,746,000 | -1,325,000 | -1,003,000 | -585,000 | -2,381,000 | -1,457,000 | -1,134,000 | -1,947,000 | -760,000 | -1,045,000 | -567,000 | -975,000 | -2,673,000 | -3,069,000 | -1,958,000 | -2,642,000 | -4,579,000 | |
free cash flows | -13,766,000 | 6,357,000 | 16,544,000 | 16,690,000 | 30,577,000 | 15,710,000 | 6,974,000 | 20,157,000 | 24,000,000 | 8,043,000 | 22,234,000 | 33,240,000 | 21,969,000 | 36,190,000 | -12,143,000 | 30,399,000 | 33,118,000 | 21,522,000 | -8,922,000 | 15,680,000 | -3,285,000 | -6,787,000 | 14,383,000 | -1,702,000 | 1,411,000 | -3,945,000 | |
proceeds from the sale of capitalized mortgage loan servicing rights | |||||||||||||||||||||||||||
net cash from investing activities | -16,695,000 | -45,564,000 | 3,334,000 | -67,475,000 | 16,854,000 | 17,691,000 | -78,609,000 | -82,369,000 | 4,780,000 | -116,135,000 | -146,196,000 | -120,030,000 | -71,465,000 | -88,350,000 | -235,794,000 | -58,588,000 | -56,511,000 | -30,760,000 | -44,324,000 | -17,655,000 | 7,712,000 | -6,034,000 | 391,698,000 | -47,369,000 | |||
cash flow from financing activities | |||||||||||||||||||||||||||
net increase in total deposits | 118,998,000 | -97,473,000 | 199,796,000 | 12,547,000 | 31,914,000 | -40,465,000 | 97,976,000 | -57,113,000 | 165,680,000 | 36,454,000 | 85,076,000 | 88,408,000 | 149,602,000 | 3,891,000 | 221,220,000 | 46,837,000 | 73,427,000 | -10,714,000 | 76,171,000 | -220,942,000 | -71,553,000 | -108,797,000 | -107,505,000 | 51,622,000 | 367,639,000 | ||
net increase in other borrowings | 7,000 | 5,000 | -1,000 | -14,000 | -60,977,000 | 36,200,000 | -6,000 | 6,296,000 | 17,805,000 | ||||||||||||||||||
proceeds from federal home loan bank advances | 75,000,000 | 75,000,000 | 35,000,000 | 102,000,000 | 95,000,000 | 0 | 40,000,000 | 95,000,000 | 155,000,000 | 160,000,000 | 30,000,000 | 242,500,000 | 57,000,000 | 0 | 32,000,000 | 700,000 | 134,500,000 | ||||||||||
payments of federal home loan bank advances | -125,000,000 | 0 | -135,000,000 | -45,000,000 | -95,000,000 | -40,000,000 | 0 | -70,000,000 | -130,000,000 | -153,000,000 | -25,000,000 | -82,058,000 | -132,000 | -70,000 | -49,003,000 | -25,261,000 | |||||||||||
dividends paid | -5,771,000 | -5,380,000 | -5,384,000 | -5,388,000 | -5,448,000 | -5,016,000 | -5,017,000 | -4,999,000 | -4,817,000 | -4,858,000 | -4,860,000 | -4,633,000 | -4,631,000 | -4,667,000 | -4,520,000 | -4,574,000 | -4,592,000 | -4,477,000 | -4,049,000 | -7,076,000 | -1,382,000 | -4,769,000 | -4,767,000 | -4,754,000 | -4,584,000 | -4,188,000 | |
repurchase of common stock | -4,663,000 | -413,000 | -7,324,000 | -33,000 | -1,693,000 | 0 | -2,626,000 | -1,384,000 | -6,488,000 | -3,684,000 | -3,601,000 | -13,784,000 | -502,000 | -24,880,000 | -902,000 | 0 | 0 | 0 | -5,989,000 | -9,178,000 | |||||||
share based compensation withholding obligation | -854,000 | -10,000 | -41,000 | -27,000 | -1,137,000 | -34,000 | -2,000 | -975,000 | -27,000 | -15,000 | -582,000 | -25,000 | -32,000 | -560,000 | -84,000 | -98,000 | -509,000 | -590,000 | -13,000 | -800,000 | -66,000 | ||||||
net cash from financing activities | 62,380,000 | -32,529,000 | 53,956,000 | 69,683,000 | -26,770,000 | -42,515,000 | 26,903,000 | -46,461,000 | 51,438,000 | -25,247,000 | 124,309,000 | 93,038,000 | 73,307,000 | 81,807,000 | 138,518,000 | -4,436,000 | 212,531,000 | 41,293,000 | 91,668,000 | -28,130,000 | 74,170,000 | 19,247,000 | -9,784,000 | -89,661,000 | -307,190,000 | 41,266,000 | |
net increase in cash and cash equivalents | 36,528,000 | -70,299,000 | 62,527,000 | 18,014,000 | 8,263,000 | -92,788,000 | 52,504,000 | -7,937,000 | -1,731,000 | -97,827,000 | 152,648,000 | 348,000 | 11,802,000 | 4,987,000 | 27,280,000 | -42,643,000 | 27,536,000 | -2,522,000 | 15,380,000 | -95,439,000 | 88,561,000 | ||||||
cash and cash equivalents at beginning of period | 138,387,000 | 0 | 0 | 119,882,000 | 0 | 0 | 169,781,000 | 0 | 0 | 74,371,000 | 0 | 0 | 109,473,000 | 0 | 0 | 118,705,000 | 65,304,000 | 0 | -3,772,000 | 74,016,000 | 0 | 0 | 73,142,000 | 67,586,000 | |||
cash and cash equivalents at end of period | 174,915,000 | 62,527,000 | 18,014,000 | 128,145,000 | -92,788,000 | 52,504,000 | 161,844,000 | -1,731,000 | -97,827,000 | 227,019,000 | 11,146,000 | -50,335,000 | 109,821,000 | 56,367,000 | -61,253,000 | 130,507,000 | 70,291,000 | 27,280,000 | -46,415,000 | 101,552,000 | 15,380,000 | -95,439,000 | 161,870,000 | 62,117,000 | |||
cash paid during the period for | |||||||||||||||||||||||||||
interest | 18,932,000 | 22,424,000 | 24,385,000 | 22,554,000 | 21,576,000 | 26,039,000 | 27,719,000 | 24,962,000 | 21,124,000 | 19,115,000 | 13,697,000 | 4,160,000 | 2,846,000 | 1,104,000 | 1,472,000 | 2,724,000 | 1,669,000 | 5,489,000 | 6,997,000 | 11,711,000 | 1,477,000 | 27,514,000 | 27,181,000 | 24,600,000 | 28,502,000 | 22,470,000 | 29,530,000 |
income taxes | 3,150,000 | 6,000,000 | 2,500,000 | 4,600,000 | 3,700,000 | 1,100,000 | 3,400,000 | 3,477,000 | 2,402,000 | 55,000 | 54,000 | 72,000 | 7,279,000 | 4,000 | 63,000 | 9,234,000 | |||||||||||
transfers to other real estate and repossessed assets | 112,000 | 467,000 | 0 | 77,000 | 232,000 | 175,000 | 103,000 | 586,000 | 0 | 363,000 | 241,000 | 25,000 | 323,000 | 276,000 | 6,000 | 77,000 | 133,000 | 66,000 | 481,000 | 403,000 | 1,017,000 | ||||||
right of use assets obtained in exchange for lease obligations | 1,109,000 | 443,000 | 1,252,000 | 335,000 | 0 | 235,000 | 2,119,000 | 360,000 | 386,000 | 400,000 | 527,000 | 116,000 | 64,000 | ||||||||||||||
purchase of securities held to maturity not yet settled | 4,022,000 | ||||||||||||||||||||||||||
proceeds from sales of equity securities at fair value | 864,000 | ||||||||||||||||||||||||||
deferred income tax expense | -775,000 | -1,036,000 | -1,324,000 | -361,000 | 1,535,000 | -434,000 | -181,000 | 1,436,000 | -758,000 | 506,000 | 2,174,000 | 2,067,000 | -1,925,000 | -308,000 | |||||||||||||
net gains on equity securities at fair value | 8,000 | ||||||||||||||||||||||||||
increase in accrued income and other assets | 3,033,000 | -2,146,000 | -3,324,000 | -4,483,000 | -12,119,000 | 1,960,000 | -7,366,000 | -3,156,000 | -6,954,000 | -1,332,000 | -744,000 | -8,461,000 | 5,095,000 | 963,000 | -3,629,000 | 517,000 | 3,798,000 | -4,054,000 | -8,416,000 | 813,000 | -3,039,000 | ||||||
increase in accrued expenses and other liabilities | -3,339,000 | 11,710,000 | -789,000 | 4,204,000 | 5,286,000 | 95,000 | 599,000 | 2,963,000 | -6,433,000 | 2,700,000 | |||||||||||||||||
cash flow used in investing activities | |||||||||||||||||||||||||||
proceeds from the sale of securities held to maturity previously charged off | 0 | 0 | 1,125,000 | ||||||||||||||||||||||||
purchases of securities held to maturity | 0 | -1,300,000 | -40,000 | -400,000 | |||||||||||||||||||||||
purchase of federal home loan bank stock | |||||||||||||||||||||||||||
proceeds from bank-owned life insurance death benefits | |||||||||||||||||||||||||||
net decrease in other borrowings | -3,000 | -2,000 | -12,000 | 8,000 | -22,000 | -3,000 | 2,000 | -2,000 | |||||||||||||||||||
repayment of subordinated debt | 0 | ||||||||||||||||||||||||||
proceeds from issuance of common stock | 0 | 23,000 | 48,000 | 42,000 | 19,000 | 13,000 | 6,000 | 30,000 | 19,000 | 11,000 | 0 | 266,000 | 16,000 | 13,000 | -43,000 | 118,000 | 68,000 | 213,000 | -38,000 | ||||||||
cash and cash equivalents at beginning of year | |||||||||||||||||||||||||||
cash and cash equivalents at end of year | |||||||||||||||||||||||||||
cash paid during the year for | |||||||||||||||||||||||||||
federal income taxes | |||||||||||||||||||||||||||
net losses on securities available for sale | -11,000 | 330,000 | |||||||||||||||||||||||||
net cash from (used in) investing activities | |||||||||||||||||||||||||||
cash flow used in financing activities | |||||||||||||||||||||||||||
net decrease in total deposits | -20,157,000 | ||||||||||||||||||||||||||
benefit from credit losses | 744,000 | 3,317,000 | 2,160,000 | 3,145,000 | 2,379,000 | -1,573,000 | -659,000 | -1,425,000 | -474,000 | ||||||||||||||||||
net deferred loan costs | 1,679,000 | -31,000 | |||||||||||||||||||||||||
net incomees on securities available for sale | 269,000 | ||||||||||||||||||||||||||
cash flow from (used in) financing activities | |||||||||||||||||||||||||||
transfer of securities available for sale to held to maturity | 0 | ||||||||||||||||||||||||||
net (gains) losses on securities available for sale | 222,000 | 0 | |||||||||||||||||||||||||
cash flow from (used in) investing activities | |||||||||||||||||||||||||||
purchase of securities available for sale not yet settled | 10,542,000 | 4,253,000 | 16,613,000 | 7,212,000 | 10,497,000 | 2,430,000 | -2,509,000 | 3,154,000 | |||||||||||||||||||
net decrease in cash and cash equivalents | -5,469,000 | ||||||||||||||||||||||||||
net gains on securities available for sale | -70,000 | -5,000 | 0 | -1,416,000 | |||||||||||||||||||||||
proceeds from the maturity of interest bearing deposits - time | 350,000 | 0 | |||||||||||||||||||||||||
proceeds from issuance of subordinated debt, net of issuance costs | |||||||||||||||||||||||||||
operating leases | 440,000 | 428,000 | 439,000 | 476,000 | 565,000 | ||||||||||||||||||||||
securitization of portfolio loans | 26,325,000 | 0 | |||||||||||||||||||||||||
net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities, and loans | |||||||||||||||||||||||||||
net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities, loans and interest bearing deposits - time | 3,158,000 | 1,795,000 | 1,521,000 | ||||||||||||||||||||||||
proceeds from the sale of equity securities at fair value | 0 | ||||||||||||||||||||||||||
benefit from loan losses | 6,721,000 | -271,000 | 1,975,000 | -659,000 | |||||||||||||||||||||||
deferred loan fees and costs | -358,000 | -1,175,000 | |||||||||||||||||||||||||
net gains on securities | -253,000 | -85,000 | -52,000 | -128,000 | -79,000 | ||||||||||||||||||||||
net (gains) losses on securities | 0 | ||||||||||||||||||||||||||
proceeds from the sale of interest bearing deposits - time | |||||||||||||||||||||||||||
purchase of federal reserve bank stock | -132,000 | 0 | |||||||||||||||||||||||||
acquisition of tcsb bancorp inc., less cash received | |||||||||||||||||||||||||||
transfer of loans to held for sale | 0 | ||||||||||||||||||||||||||
deferred federal income tax expense | 2,442,000 | ||||||||||||||||||||||||||
deferred loan fees | -193,000 | 100,000 | -962,000 | -124,000 | -82,000 | -53,000 | |||||||||||||||||||||
depreciation, amortization of intangible assets and premiums and accretion of discounts on securities and loans | 1,179,000 | ||||||||||||||||||||||||||
net gains on other real estate and repossessed assets | -39,000 | ||||||||||||||||||||||||||
vehicle service contract counterparty contingencies | 29,000 | ||||||||||||||||||||||||||
proceeds from the maturity of securities available for sale | 6,785,000 | 6,539,000 | 3,168,000 | 20,012,000 | 8,790,000 | 2,622,000 | 2,452,000 | ||||||||||||||||||||
principal payments received on securities available for sale | 25,103,000 | 6,663,000 | 7,266,000 | 8,729,000 | 8,094,000 | 9,530,000 | -26,777,000 | ||||||||||||||||||||
purchases of interest bearing deposits | -246,000 | ||||||||||||||||||||||||||
proceeds from the maturity of interest bearing deposits | 2,211,000 | ||||||||||||||||||||||||||
proceeds from the collection of vehicle service contract counterparty receivables | |||||||||||||||||||||||||||
net increase in vehicle service contract counterparty payables | 335,000 | ||||||||||||||||||||||||||
transfer of payment plan receivables to vehicle service contract counterparty receivables | 21,000 | ||||||||||||||||||||||||||
provision for loan losses | 9,108,000 | 10,726,000 | 15,046,000 | 8,288,000 | 1,586,000 | 5,792,000 | |||||||||||||||||||||
net gains on sales of real estate mortgage loans | -904,000 | -1,094,000 | -1,238,000 | -1,081,000 | -1,026,000 | ||||||||||||||||||||||
net losses on securities | |||||||||||||||||||||||||||
goodwill impairment | 0 | 0 | 0 | 343,000 | |||||||||||||||||||||||
proceeds from sale of non-performing and other loans of concern | |||||||||||||||||||||||||||
portfolio loans originated, net of principal payments | -54,542,000 | ||||||||||||||||||||||||||
acquisition of business offices, less cash paid | 0 | 0 | |||||||||||||||||||||||||
proceeds from sale of insurance premium finance business | 0 | 0 | 0 | 175,901,000 | |||||||||||||||||||||||
settlement on business acquisition | |||||||||||||||||||||||||||
net decrease in other borrowings and federal funds purchased | |||||||||||||||||||||||||||
repayment of long-term debt | -500,000 | -500,000 | -500,000 | -500,000 | -500,000 | ||||||||||||||||||||||
net increase in financed premiums payable | -4,601,000 | 11,260,000 | 3,391,000 | -1,854,000 | 6,765,000 | ||||||||||||||||||||||
proceeds from issuance of subordinated debt | 0 | 20,619,000 | |||||||||||||||||||||||||
redemption of subordinated debt | 0 | 0 | |||||||||||||||||||||||||
change in cash and cash equivalents of discontinued operations | 0 | 0 | 0 | 167,000 | |||||||||||||||||||||||
transfer of loans to other real estate | 5,682,000 | 1,670,000 | 2,833,000 | 1,059,000 | 565,000 | 1,252,000 | |||||||||||||||||||||
common stock issued for acquisition of business | |||||||||||||||||||||||||||
depreciation and amortization of premiums and accretion of discounts on securities and loans | -3,629,000 | -2,624,000 | -2,584,000 | -2,696,000 | |||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities - sum | 13,727,000 | 299,000 | -190,000 | -11,709,000 | |||||||||||||||||||||||
increase in portfolio loans originated, net of principal payments | |||||||||||||||||||||||||||
net increase in short-term borrowings | -21,668,000 | 12,879,000 | -169,823,000 | 21,093,000 | |||||||||||||||||||||||
see notes to interim consolidated financial statements | |||||||||||||||||||||||||||
decrease in portfolio loans originated, net of principal payments | |||||||||||||||||||||||||||
decrease portfolio loans originated, net of principal payments | 4,135,000 | ||||||||||||||||||||||||||
acquisition of business offices, less cash received | 210,053,000 | ||||||||||||||||||||||||||
write-off of uncompleted software | |||||||||||||||||||||||||||
acquisition of businesses, less cash received | |||||||||||||||||||||||||||
net increase in other borrowings and federal funds purchased | |||||||||||||||||||||||||||
proceeds from issuance of long-term debt | |||||||||||||||||||||||||||
real estate loans securitized | |||||||||||||||||||||||||||
principal payments received on portfolio loans purchased | |||||||||||||||||||||||||||
proceeds from issuance of subordinated debentures net of cash paid for common securities | |||||||||||||||||||||||||||
redemption of subordinated debentures net of cash receipt for common securities | |||||||||||||||||||||||||||
adjustments to reconcile net income | |||||||||||||||||||||||||||
to net cash from operating activities | |||||||||||||||||||||||||||
depreciation and amortization of premiums and accretion of | |||||||||||||||||||||||||||
discounts on securities and loans | |||||||||||||||||||||||||||
net losses on sales of securities | |||||||||||||||||||||||||||
principal payments on portfolio loans purchased | |||||||||||||||||||||||||||
portfolio loans made to customers, net of principal payments | |||||||||||||||||||||||||||
acquisition of business, less cash received | |||||||||||||||||||||||||||
purchase of bank owned life insurance | |||||||||||||||||||||||||||
proceeds from issuance of guaranteed preferred beneficial interest in | |||||||||||||||||||||||||||
company's subordinated debentures | |||||||||||||||||||||||||||
redemption of guaranteed preferred beneficial interest in |