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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 29,429 $ 19,111
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 25,429 1,903
Depreciation and amortization 4,935 3,733
Accretion and amortization 2,064 (97)
Other gains, net (2,529) (122)
Net gain on sales of loans (47,279) (17,521)
Proceeds from sales of loans held for sale 1,004,956 460,268
Loans originated for sale (985,149) (454,501)
Earnings on bank-owned life insurance (1,004) (937)
Stock based compensation 966 407
Net change in:    
Accrued interest receivable and other assets (8,642) (3,390)
Accrued expenses and other liabilities 10,669 13,616
Net cash from operating activities 33,845 22,470
Activity in securities available for sale:    
Purchases (158,291) (165,023)
Sales 94,514 0
Maturities, prepayments, and calls 69,618 109,414
Loan originations and principal collections, net (150,579) (7,786)
Cash paid for acquisition (687) (2,800)
Goodwill adjustment related to litigation settlement 460 0
Purchases of premises and equipment, net (3,159) (3,267)
Proceeds from sales of premises and equipment 192 208
Proceeds from sales of foreclosed assets 2,068 1,608
Net cash from investing activities (145,864) (67,646)
Cash flows from financing activities:    
Net change in deposits 246,945 8,520
Net change in short-term borrowings (29,400) (7,850)
Proceeds from common stock issuance, net 0 51,392
Proceeds from subordinated debt issuance, net 49,074 0
Proceeds from notes payable & other borrowings 75,000 0
Payments to tax authorities for stock-based compensation (129) (161)
Payments made on notes payable and other borrowings (95,000) (7,530)
Cash dividends on common stock (1,624) (539)
Purchase of treasury stock (61) 0
Net cash from financing activities 244,805 43,832
Net change in cash and cash equivalents 132,786 (1,344)
Beginning cash and cash equivalents 158,099 245,989
Ending cash and cash equivalents 290,885 244,645
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 12,956 21,882
Income taxes paid 8,719 4,364
Supplemental schedule of noncash investing and financing activities:    
Loans transferred to foreclosed assets 1,468 1,521
Share-based liability awards modified to equity awards $ 0 $ 11,450