XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income from continuing operations $ 33,444 $ 28,005
Net income (loss) from discontinued operations (785) 1,275
Adjustments to reconcile net income to net cash (used in) provided by operating activities    
Depreciation and amortization 1,966 2,706
Provision for credit losses 4,501 2,300
Net amortization of investment securities discounts/premiums 9,008 8,640
Stock-based compensation expense 2,940 3,019
Loans originated for sale (634,860) (766,645)
Sale of commercial loans originated for resale 3,689 491,158
Loss (gain) on commercial loans originated for resale 135 (11,193)
Loss (gain) from discontinued operations 707 (243)
Fair value adjustment on investment in unconsolidated entity 45  
Change in fair value of loans held-for-sale 3,600 (1,274)
Change in fair value of derivatives 2,361 1,852
Increase in accrued interest receivable (5,278) (1,814)
(Increase) decrease in other assets 15,303 (6,256)
Increase (decrease) in other liabilities 8,824 (372)
Net used in operating activities (554,400) (248,842)
Investing activities    
Purchase of investment securities available-for-sale (23,059) (148,717)
Proceeds from redemptions and prepayments of securities available-for-sale 114,855 82,440
Net cash paid due to acquisitions, net of cash acquired (3,920)  
Net increase in loans (506,680) (57,465)
Net decrease in discontinued loans held-for-sale 10,337 23,537
Purchases of premises and equipment (834) (598)
Change in receivable from investment in unconsolidated entity 6 138
Return of investment in unconsolidated entity 5,045 1,261
Decrease in discontinued assets held-for-sale 1,150 5,185
Net used in investing activities (403,100) (94,219)
Financing activities    
Net increase in deposits 493,169 56,032
Net decrease in securities sold under agreements to repurchase (40)  
Proceeds of short-term borrowings   45,000
Proceeds from the issuance of common stock 620  
Net cash provided by financing activities 493,749 101,032
Net decrease in cash and cash equivalents (463,751) (242,029)
Cash and cash equivalents, beginning of period 944,472 554,302
Cash and cash equivalents, end of period 480,721 312,273
Supplemental disclosure:    
Interest paid 9,295 19,045
Taxes paid 6,090 10,132
Non-cash investing and financing activities    
Investment securities transferred in securitization transaction   41,633
Loans transferred in acquisition 3,961  
Transfers of discontinued loans to discontinued other real estate owned 3,780 $ 5,295
Leased vehicles transferred to repossessed assets $ 15,318