XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 130,618 $ 56,384
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 9,531 7,799
Provision (benefit) charge for credit losses on loans and securities (24,736) 32,017
Credit loss expense for off-balance sheet credit exposure 2,155 5,714
Deferred tax expense (benefit) 5,323 (7,531)
Amortization of operating lease right-of-use assets 7,559 6,565
Income on Bank-owned life insurance (5,970) (4,290)
Net amortization of premiums and discounts on securities 11,032 6,881
Accretion of net deferred loan fees (5,019) (6,079)
Amortization of premiums on purchased loans, net 536 779
Net increase in loans originated for sale (25,016) (13,559)
Proceeds from sales of loans originated for sale 26,056 14,347
Proceeds from sales and paydowns of foreclosed assets 1,368 3,491
ESOP expense 2,993 2,127
Allocation of stock award shares 3,887 3,866
Allocation of stock options 151 142
Net gain on sale of loans (1,040) (788)
Net gain on securities transactions (257) (55)
Net gain on sale of premises and equipment (35) (806)
Net gain on sale of foreclosed assets (528) (859)
Decrease in accrued interest receivable 5,584 5,989
Decrease (increase) in other assets 10,596 (145,561)
(Decrease) increase in other liabilities (31,000) 78,047
Net cash provided by operating activities 123,788 44,620
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of held to maturity debt securities 44,054 49,422
Purchases of held to maturity debt securities (21,417) (31,686)
Proceeds from sales of securities 9,442 13,905
Proceeds from maturities and paydowns of available for sale debt securities 288,699 247,660
Purchases of available for sale debt securities (1,140,182) (137,879)
Proceeds from redemption of Federal Home Loan Bank stock 29,197 88,909
Purchases of Federal Home Loan Bank stock (3,752) (90,370)
Cash received, net of cash consideration paid for acquisition 0 78,089
BOLI claim benefits received 3,851 6,527
Purchases of loans (2,060) 0
Net decrease (increase) in loans 274,399 (668,612)
Proceeds from sales of premises and equipment 35 806
Purchases of premises and equipment (8,348) (6,977)
Net cash used in investing activities (526,082) (450,206)
Cash flows from financing activities:    
Net increase in deposits 998,792 698,854
Increase in mortgage escrow deposits 3,266 706
Cash dividends paid to stockholders (53,995) (49,106)
Shares issued dividend reinvestment plan 0 451
Purchase of treasury stock (13,913) (7,256)
Purchase of employee restricted shares to fund statutory tax withholding (961) (974)
Stock options exercised 638 0
Proceeds from long-term borrowings 727,985 1,810,999
Payments on long-term borrowings (1,275,440) (1,649,915)
Net decrease in short-term borrowings (11,142) (74,783)
Net cash provided by financing activities 375,230 728,976
Net (decrease) increase in cash and cash equivalents (27,064) 323,390
Cash and cash equivalents at beginning of period 532,353 186,748
Cash and cash equivalents at end of period 505,289 510,138
Cash paid during the period for:    
Interest on deposits and borrowings 28,266 37,506
Income taxes 41,165 22,534
Non-cash investing activities:    
Transfer of loans receivable to foreclosed assets 434 2,516
Non-cash assets acquired at fair value:    
Investment securities 0 255,242
Loans, net 0 1,752,529
Bank-owned life insurance 0 37,237
Goodwill and other intangible assets 1,422 32,404
Bank premises and equipment 0 16,620
Other assets (1,422) 19,786
Total non-cash assets acquired at fair value 0 2,113,818
Liabilities assumed    
Deposits 0 1,757,777
Borrowings and subordinated debt 0 226,656
Other Liabilities 0 26,648
Total liabilities assumed 0 2,011,081
Stock Issued $ 0 $ 180,828