XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash Flows from Operating Activities:          
Net income     $ 93,158 $ 85,635  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses - loans     (1,761) (2,865)  
Provision for credit losses - securities AFS $ 293 $ 1,000 1,120 2,853 $ 3,154
Stock-based compensation expense     2,770 2,202  
Depreciation and amortization     3,056 2,477  
Deferred tax expense (benefit)     944 (445)  
Amortization of premium on securities     2,392 750  
Amortization of core deposit intangible     1,458 1,213  
Amortization of mortgage servicing rights - net     1,566 1,370  
Gain on sale of loans   (18,135)   (21,459)  
Amortization of OCI - securities transfer to HTM     (851)    
Valuation allowance on mortgage servicing rights - net     (747) 2,134  
Increase in other assets     (32,636) (34,876)  
Increase in accounts payable and other liabilities     29,772 31,151  
Net cash provided by operating activities     100,241 70,140  
Cash Flows from Investing Activities:          
Net increase in loans     (2,947,628) (1,063,500)  
Proceeds from sale of loans       580,417  
Purchase of premises and equipment     (4,007) (2,556)  
Disposals of premises and equipment     3,388    
Recovery of allowance for credit losses     355 864  
Purchases of securities AFS     (398) (306,267)  
Purchases of securities HTM     (171,852)    
Proceeds from sale of securities       3,500  
Maturities of securities AFS     24,775 207,423  
Maturities of securities HTM     202,899    
Net increase in FHLB stock     (12,954)    
Proceeds from BOLI policy     326    
Net cash used in investing activities     (2,905,096) (580,119)  
Cash Flows from Financing Activities:          
Increase in deposits     737,896 931,545  
Net increase (decrease) in FHLB advances     1,144,000 (255,000)  
Line of credit net change - borrowings, net     (18,500) (1,500)  
Net increase in subordinated debt     147,623    
Net increase in repurchase agreements     13,206    
Gain on sale leaseback     (1,123)    
Dividends paid     (18,627) (12,089)  
Proceeds from exercise of stock options     18 1,880  
Repurchase of stock     (3,577) (1,188)  
Net cash provided by financing activities     2,000,916 663,648  
Increase (decrease) in cash and cash equivalents     (803,939) 153,669  
Cash and cash equivalents at beginning of year     1,121,757 629,707 629,707
Cash and cash equivalents at end of period $ 317,818 $ 783,376 317,818 783,376 $ 1,121,757
Supplemental disclosures of cash flow information:          
Income taxes     31,016 27,683  
Interest     32,078 12,873  
Noncash transactions:          
Transfer of loans to loans held for sale       555,085  
Transfer of securities from available-for-sale to held-to-maturity     916,777    
Goodwill acquisition adjustment     1,623    
Right of use lease assets and liabilities recognized     $ 21,649    
Mortgage servicing rights from loan sales       $ 2,726