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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 159,718 $ 123,340 $ 60,100
Adjustments to net income:      
Depreciation and amortization expense 9,815 7,773 4,888
Provision for credit losses 5,719 8,253 8,432
Share-based compensation expense 10,528 9,033 5,809
(Gain) loss on sale and disposal of premises and equipment (42) 108 234
Gain on sale of or write down of other real estate owned (55) (355) (46)
Net amortization on securities 4,745 6,900 7,601
Net accretion of discounts/premiums for acquired loans and deferred loan fees/costs (27,378) (21,401) (16,172)
Gain on sale of investment securities available-for-sale (8,571) (1,399) (2,737)
Originations of loans held for sale (98,232) (147,740) (135,348)
Proceeds from the sales of and principal payments from loans held for sale 111,952 184,220 132,320
Gain on sale of loans (6,642) (10,759) (12,468)
Deferred income tax expense 7,496 9,275 16,420
Change in accrued expenses and other liabilities, net (6,265) 14,157 5,193
Income from bank owned life insurance, net (2,689) (2,774) (1,842)
Amortization of core deposit intangible 17,245 13,594 6,144
Change in accrued interest receivable and other assets, net 5,346 4,266 (9,157)
Net cash provided by (used) in operating activities 182,690 196,491 69,371
Cash flows from investing activities:      
Net increase in interest-bearing time deposits with financial institutions 3,435 490 (2,689)
Proceeds from sale of other real estate owned 405 1,058 507
Loan originations and payments, net 266,632 (340,023) (601,617)
Proceeds from loans held for sale previously classified as portfolio loans 86,313 125,485 103,049
Purchase of loans held for investment (222,701) (61,562) (13,582)
Purchase of held-to-maturity securities 0 (29,002) (10,914)
Proceeds from prepayments and maturities of held-to-maturity securities 7,318 1,785 1,166
Purchase of securities available-for-sale (889,516) (462,534) (306,527)
Proceeds from prepayments and maturities of securities available-for-sale 114,520 131,268 74,891
Proceeds from sale or maturity of securities available-for-sale 551,784 407,004 268,596
Proceeds from the sale of premises and equipment 14,751 0 18
Proceeds from bank owned insurance death benefit 405 1,284 198
Purchases of premises and equipment (18,834) (10,295) (4,183)
Change in FHLB, FRB, and other stock, at cost 2,306 (27,086) (12,838)
Funding of CRA investments (15,069) (21,936) (6,189)
Cash acquired in acquisitions, net 0 146,571 225,945
Net cash used in investing activities (98,251) (137,493) (284,169)
Cash flows from financing activities:      
Net increase in deposit accounts 240,158 65,553 187,901
Net change in short-term borrowings (115,075) (108,064) 61,120
Proceeds from FHLB borrowings 0 0 12,012
Repayment of FHLB borrowings (35,500) (10,500) (9,262)
Redemption of junior subordinated debt securities (18,558) 0 0
Proceeds from issuance of subordinated debt, net 122,453 0 0
Cash dividends paid (53,867) 0 0
Repurchase and retirement of common stock (100,000) 0 0
Proceeds from exercise of stock options 2,679 1,924 4,592
Restricted stock surrendered and canceled (3,285) (1,669) (1,258)
Net cash provided by (used in) financing activities 39,005 (52,756) 255,105
Net change in cash and cash equivalents 123,444 6,242 40,307
Cash and cash equivalents, beginning of year 203,406 197,164 156,857
Cash and cash equivalents, end of year 326,850 203,406 197,164
Supplemental cash flow disclosures:      
Interest paid 79,386 53,960 21,777
Income taxes paid 52,093 32,296 18,846
Noncash investing activities:      
Loans held for sale transfer to loans held for investment 89,259 133,499 99,066
Transfers from loans to other real estate owned 644 15 121
Recognition of operating lease right-of-use assets (52,701) 0 0
Recognition of operating lease liabilities 52,701 0 0
Assets acquired (liabilities assumed) in acquisitions (See Note 27):      
Investment securities 0 392,858 442,923
Loans 0 2,352,717 2,427,589
Core deposit intangible 0 71,943 39,703
Deferred income tax 0 4,383 14,959
Goodwill 0 313,043 391,070
Fixed assets 0 9,122 42,097
Other assets 0 97,246 74,379
Deposits 0 (2,506,929) (2,752,501)
Other borrowings 0 (254,923) (180,186)
Other liabilities 0 (24,859) (16,395)
Common Stock and additional paid-in capital $ 0 $ (601,172) $ (716,421)