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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 17,221 $ 19,082
Adjustments to reconcile net income to net cash from operating activities:    
Net amortization and accretion of investments 1,909 638
Net amortization of deferred loan costs 1,322 381
Provision (release of allowance) for loan losses (922) 7,734
Depreciation and amortization 2,018 1,708
Stock-based compensation 1,284 1,125
Loans originated for sale (21,867) (1,334,910)
Proceeds of loans sold 13,693 1,228,772
Holding gain on equity securities (1,214) (17)
Mortgage fee income 0 (26,163)
Gain on sale of available-for-sale securities (2,864) (830)
Loss on sale of available-for-sale securities 13 0
Gain on sale of equity securities (5) (30)
Loss on sale of equity securities 0 0
Gain on sale of loans (2,217) (130)
Gains on acquisition and divestiture activity 0 (14,302)
Income on bank-owned life insurance (500) (444)
Deferred income taxes (1,718) 1,280
Equity method investment income (10,997) 0
Return on equity method investment 22,720 0
Other assets 5,321 (32,452)
Other liabilities (18,402) 27,841
Net cash from operating activities 4,795 (120,717)
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (144,633) (51,201)
Maturities/paydowns of available-for-sale investment securities 24,236 37,637
Sales of available-for-sale investment securities 75,316 41,160
Purchases of premises and equipment (652) (2,519)
External-use software (1,805) 0
Loans, net (288,169) (55,365)
Purchases of restricted bank stock (1,044) (18,615)
Redemptions of restricted bank stock 0 27,982
Purchases of certificates of deposit with banks 0 (497)
Proceeds from sale of other real estate owned 267 4,440
Purchase of equity securities (3,222) (1,260)
Sales of equity securities 61 357
Cash paid for acquisitions, net of cash acquired (772) (71,372)
Net cash from investing activities (340,417) (89,253)
FINANCING ACTIVITIES    
Deposits, net 412,486 456,265
Repurchase agreements, net 1,095 (357)
FHLB and other borrowings, net 100 (192,075)
Preferred stock redemption (7,334) 0
Common stock repurchased 0 (668)
Common stock options exercised 2,297 38
Withholding cash issued in lieu of restricted stock (231) 0
Cash dividends paid on common stock (2,558) (2,152)
Cash dividends paid on preferred stock (35) (229)
Net cash from financing activities 405,820 260,822
Increase in cash and cash equivalents 70,198 50,852
Cash and cash equivalents, beginning of period 263,893 28,002
Cash and cash equivalents, end of period (includes $1,320 of cash held-for-sale as of June 30, 2021) 334,091 78,854
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 3,389 10,264
Income taxes 7,942 1,455
Business combination non-cash disclosures:    
Assets acquired in business combination (net of cash received) 739 87,722
Liabilities assumed in business combination 605 148,731
Supplemental disclosure of cash flow information:    
Fair value of noncontrolling interests at acquisition date 900 0
Loans transferred to other real estate owned 116 23
Common stock issued related to acquisitions $ 600 $ 240