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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities:    
Net income $ 24,252 $ 28,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion 4,954 3,194
Provision for credit losses 6,000 500
Increase in cash surrender value of life insurance (1,058) (938)
Stock-based compensation expense 2,956 2,499
Asset (gains) losses, net 1,402 (7,744)
Gain on sale of loans held for sale, net (12,217) (3,246)
Proceeds from sale of loans held for sale 395,187 120,753
Origination of loans held for sale (404,346) (121,438)
Net change in:    
Accrued interest receivable and other assets (9,328) (6,595)
Accrued interest payable and other liabilities 12,388 3,135
Net cash provided by (used in) operating activities 20,190 19,114
Cash Flows From Investing Activities:    
Net (increase) decrease in loans (245,750) (34,459)
Net (increase) decrease in certificates of deposit in other banks 1,496 (4,403)
Purchases of securities AFS (94,380) (29,087)
Proceeds from sales of securities AFS 9,232 13,240
Proceeds from calls and maturities of securities AFS 40,017 23,055
Purchases of other investments (3,738) (1,373)
Proceeds from sales of other investments 0 17,144
Purchases of BOLI 0 (2,000)
Proceeds from redemption of BOLI 245 428
Net (increase) decrease in premises and equipment (6,240) (3,137)
Net (increase) decrease in other real estate and other assets 0 15
Net cash provided by (used in) investing activities (299,118) (20,577)
Cash Flows From Financing Activities:    
Net increase (decrease) in deposits 583,612 (77,499)
Proceeds from long-term borrowings 367,841 0
Repayments of long-term borrowings (17,860) (129)
Purchase and retirement of common stock (15,201) (18,792)
Proceeds from issuance of common stock 334 283
Proceeds from exercise of stock options 954 3,182
Distribution to noncontrolling interest (127) (188)
Net cash provided by (used in) financing activities 919,553 (93,143)
Net increase (decrease) in cash and cash equivalents 640,625 (94,606)
Cash and cash equivalents:    
Beginning 182,059 249,526
Ending [1] 822,684 154,920
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 12,874 11,091
Cash paid for taxes 0 6,340
Capitalized mortgage servicing rights $ 2,250 $ 871
[1] Cash and cash equivalents at June 30, 2020 include restricted cash of $1.9 million pledged as collateral on interest rate swaps and no reserve balance was required with the Federal Reserve Bank. At June 30, 2019, cash and cash equivalents include restricted cash of $950,000 pledged as collateral on interest rate swaps and $5.8 million for the reserve balance required with the Federal Reserve Bank.