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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 28,895 $ 25,573
Adjustments to reconcile net income to net cash from operating activities:    
Net amortization and accretion of investments 3,011 1,112
Net amortization of deferred loan costs 2,062 779
Provision for loan losses (542) 16,365
Depreciation and amortization 2,800 761
Stock-based compensation 2,339 1,717
Loans originated for sale (23,950) (1,334,910)
Proceeds of loans sold 17,871 1,475,854
Holding gain on equity securities (1,750) (111)
Mortgage fee income 0 (33,427)
Gain on sale of available-for-sale securities (3,411) (899)
Loss on sale of available-for-sale securities 31 34
Gain on sale of equity securities (5) (48)
Gain on sale of loans (3,125) (302)
Gains on acquisition and divestiture activity (10,783) (14,302)
Gain on sale of other real estate owned (116) 0
Income on bank-owned life insurance (749) (663)
Deferred income taxes (1,186) 3,958
Equity method investment income (14,570) (13,620)
Return on equity method investment 29,795 (3,338)
Other assets (503) (36,669)
Other liabilities (14,327) 3,444
Net cash from operating activities 11,787 91,308
INVESTING ACTIVITIES    
Purchases of available-for-sale investment securities (176,468) (132,896)
Maturities/paydowns of available-for-sale investment securities 38,846 42,770
Sales of available-for-sale investment securities 103,365 48,579
Purchases of premises and equipment (3,589) (4,211)
Disposals of premises and equipment 0 1,687
Loans, net (356,623) (43,869)
Purchases of restricted bank stock (1,410) (24,013)
Redemptions of restricted bank stock 2,821 33,578
Proceeds from sale of certificates of deposit with banks 2,221 1,241
Purchases of certificates of deposit with banks 0 (993)
Proceeds from sale of other real estate owned 2,761 7,700
Purchase of equity securities (3,472) (6,260)
Sales of equity securities 61 669
Net cash transferred for banking center sale (95,697) 0
Cash paid for acquisitions, net of cash acquired (772) (78,699)
Net cash from investing activities (487,956) (154,717)
FINANCING ACTIVITIES    
Deposits, net 579,875 491,259
Repurchase agreements, net 873 (127)
FHLB and other borrowings, net 0 (154,483)
Issuance of subordinated debt 30,000 0
Payment of subordinated debt issuance costs 441 0
Preferred stock redemption (7,334) 0
Common stock repurchased 0 (1,921)
Common stock options exercised 3,405 75
Withholding cash issued in lieu of restricted stock (256) 0
Cash dividends paid on common stock (4,230) (3,228)
Cash dividends paid on preferred stock (35) (345)
Issuance of subsidiary membership units 500 0
Net cash from financing activities 602,357 331,230
Increase in cash and cash equivalents 126,188 267,821
Cash and cash equivalents, beginning of period 263,893 28,002
Cash and cash equivalents, end of period 390,081 295,823
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 4,488 13,275
Income taxes 9,600 7,613
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 1,400 0
Loans transferred to other real estate owned 357 800
Employee stock-based compensation tax withholding obligations 4,155 35
Restricted stock units vested 70 49
Common stock issued related to investments and acquisitions $ 708 $ 240