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Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income $ 25,817 $ 24,735
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses on loans and leases 52,732 10,113
Depreciation and amortization 15,009 8,884
Share-based compensation expense 7,278 4,900
Deferred taxes (28,104) (681)
Net amortization (accretion) of investment securities premiums and discounts (364) 421
Unrealized (gain) loss on investment securities 178 345
(Gain) loss on sale of investment securities (8,328) 0
Loss upon acquisition of interest-only GNMA securities 0 7,476
(Gain) loss on sale of SBA and other loans (426) (304)
Fair value adjustment on loans held for sale 1,450 0
Origination of loans held for sale (22,730) (22,152)
Proceeds from the sale of loans held for sale 21,745 19,591
Amortization (accretion) of fair value discounts and premiums (1,137) 232
Net (gain) loss on sales of other real estate owned (4) 0
Valuation and other adjustments to other real estate owned 0 31
Earnings on investment in bank-owned life insurance (3,519) (3,653)
(Increase) decrease in accrued interest receivable and other assets (108,325) (63,311)
Increase (decrease) in accrued interest payable and other liabilities 88,305 16,502
Net Cash Provided By Operating Activities 39,577 3,129
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities 78,485 11,616
Proceeds from sales of investment securities available for sale 109,207 0
Purchases of investment securities available for sale (280,410) 0
Origination of mortgage warehouse loans (23,573,962) (12,246,471)
Proceeds from repayments of mortgage warehouse loans 23,033,058 11,624,062
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans (4,515,097) (22,665)
Purchase of loans (211,096) (555,587)
Net proceeds from sale of (purchases of) FHLB, Federal Reserve Bank, and other restricted stock (6,809) (12,262)
Purchases of bank premises and equipment (214) (345)
Proceeds from sales of other real estate owned 77 0
Purchases of leased assets under lessor operating leases (9,011) (11,672)
Net Cash Used In Investing Activities (5,375,772) (1,213,324)
Cash Flows from Financing Activities    
Net increase in deposits 2,316,939 1,043,541
Net increase (decrease) in short-term borrowed funds from the FHLB 0 (335,970)
Net increase (decrease) in federal funds purchased (538,000) 219,000
Proceeds from borrowed funds from PPP liquidity facility 4,419,967 0
Proceeds from long-term borrowed funds from the FHLB 0 350,000
Repayments of other borrowings 0 (25,000)
Preferred stock dividends paid (7,229) (7,229)
Purchase of treasury stock 0 (571)
Payments of employee taxes withheld from share-based awards (1,067) (1,210)
Proceeds from issuance of common stock 410 1,294
Net Cash Provided By Financing Activities 6,191,020 1,243,855
Net Increase (Decrease) in Cash and Cash Equivalents 854,825 33,660
Cash and Cash Equivalents – Beginning 212,505 62,135
Cash and Cash Equivalents – Ending 1,067,330 95,795
Non-cash Operating and Investing Activities:    
Transfer of loans to other real estate owned 31 291
Transfer of loans held for investment to held for sale 19,050 0
Unsettled sales of investment securities 33,615 0
Acquisition of interest-only GNMA securities securing a mortgage warehouse loan 0 17,157
Acquisition of residential reverse mortgage loans securing a mortgage warehouse loan $ 0 $ 1,325