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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 45,619 $ 44,000
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses (2,867) (1,918)
Depreciation and amortization 5,277 4,837
Accretion and amortization 3,089 3,399
Other gains, net (65) (139)
Net gain on sales of loans (17,924) (41,108)
Proceeds from sales of loans held for sale 659,061 1,243,380
Loans originated for sale (594,246) (1,189,693)
Deferred income tax expense 2,093 1,730
Earnings on bank-owned life insurance (896) (945)
Stock-based compensation 1,866 1,225
Change in valuation of mortgage servicing rights (6,030) (1,055)
Net change in:    
Accrued interest receivable and other assets (2,734) 3,683
Accrued expenses and other liabilities 26,702 10,305
Net cash provided by operating activities 118,945 77,701
Activity in securities available for sale:    
Purchases (176,713) (61,548)
Maturities, prepayments, and calls 60,772 94,978
Loan originations and principal collections, net (252,828) (209,047)
Purchases of premises and equipment (3,294) (2,319)
Proceeds from sales of premises and equipment 245 108
Proceeds from sales of foreclosed assets 1,884 1,048
Net cash used in investing activities (369,934) (176,780)
Cash flows from financing activities:    
Net change in deposits 119,314 237,894
Net change in short-term borrowings 0 (26,550)
Payments to tax authorities for stock-based compensation (285) (106)
Payments made on notes payable and other borrowings 0 (75,000)
Cash dividends on common stock (5,973) (3,784)
Payments to repurchase common stock (18,926) (6,082)
Net cash provided by financing activities 94,130 126,372
Net change in cash and cash equivalents (156,859) 27,293
Beginning cash and cash equivalents 486,821 300,307
Ending cash and cash equivalents 329,962 327,600
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 12,953 10,774
Income taxes paid 8,488 8,842
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 465 722
Additions to mortgage servicing rights $ 2,694 $ 8,018