XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (9,129) $ 9,487
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities    
Provision for credit losses 28,728 38,805
Reversal of provision for loan repurchases (725) (300)
Depreciation on premises and equipment 12,378 7,800
Amortization of intangible assets 1,212 1,741
Amortization of debt issuance costs 537 165
Net amortization of premium on securities 676 738
Impairment loss on investment securities 0 731
Net amortization of deferred loan costs and fees (2,007) 479
Accretion of discounts on purchased loans (361) (311)
Write-off of other assets related to naming rights termination, net 6,669 0
Naming rights termination 26,769 0
Debt extinguishment fee 2,515 0
Deferred income tax benefit (2,553) (2,600)
Bank owned life insurance income (1,798) (1,693)
Share-based compensation expense 4,392 3,844
Loss on interest rate swaps 285 8,964
Loss on investments in alternative energy partnerships and affordable housing investments 4,327 3,308
Impairment on capitalized software projects 157 986
Fair value adjustment for loans held-for-sale 1,537 (76)
Net gain on sale of loans (245) (8,629)
Net gain (loss) on sale of securities available-for-sale (2,011) 4,855
Loss on sale or disposal of property and equipment 106 20
Repurchase of mortgage loans 0 (1,929)
Proceeds from sales of and principal collected on loans held-for-sale 18,853 4,905
Proceeds from sales of and principal collected on other loans held-for-sale 0 426
Change in accrued interest receivable and other assets (1,175) (15,223)
Change in accrued interest payable and other liabilities (24,273) 3,633
Net cash provided by operating activities 38,095 60,126
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 22,727 822,979
Proceeds from maturities and calls of securities available-for-sale 30,000 38,029
Proceeds from principal repayments of securities available-for-sale 5,075 35,337
Purchases of securities available-for-sale (371,092) 0
Cash received from bank-owned life insurance 502 0
Loan originations and principal collections, net 427,308 151,655
Purchase of loans (154,864) 0
Redemption of Federal Home Loan Bank stock 23,972 56,551
Purchase of Federal Home Loan Bank and other bank stock (9,361) (60,136)
Proceeds from sale of loans 0 1,140,851
Proceeds from sale of other real estate owned 1,078 843
Purchases of premises and equipment (4,547) (8,391)
Payments of capital lease obligations (398) (347)
Funding of equity investment (17,346) (14,599)
(Increase) decrease in investments in alternative energy partnerships (2,019) 1,294
Net cash (used in) provided by investing activities (48,965) 2,164,066
Cash flows from financing activities:    
Net increase (decrease) in deposits 605,099 (2,146,586)
Net (decrease) increase in short-term Federal Home Loan Bank advances (505,000) 155,000
Repayment of long-term Federal Home Loan Bank advances (235,000) (25,000)
Proceeds from long-term Federal Home Loan Bank advances 111,000 0
Debt extinguishment and financing fees paid (9,368) 0
Redemption of preferred stock (4,379) (46,396)
Purchase of treasury stock (12,041) 0
Purchase of restricted stock surrendered due to employee tax liability (829) (902)
Dividend equivalents paid on stock appreciation rights (282) (390)
Dividends paid on preferred stock (10,422) (12,019)
Dividends paid on common stock (8,890) (12,617)
Net cash used in financing activities (70,112) (2,088,910)
Net change in cash and cash equivalents (80,982) 135,282
Cash and cash equivalents at beginning of period 373,472 391,592
Cash and cash equivalents at end of period 292,490 526,874
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 52,577 120,042
Income taxes paid 758 2,822
Income taxes refunds received 0 142
Supplemental disclosure of non-cash activities    
Transfer from loans to other real estate owned, net 1,116 276
Transfer of loans held-for-investment to loans held-for-sale 0 1,127,898
Equipment acquired under capital leases 30 40
Operating lease right-of-use assets recognized (960) 28,664
Operating lease liabilities recognized 960 30,065
Impact of adoption of ASU 2016-13 on retained earnings 874,254 900,988
Receivable on unsettled securities sales $ 0 $ 334,769