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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 31,894 $ 41,835
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 7,378 6,020
Net accretion on loans (8,377) (4,013)
Amortization of subordinated notes issuance costs 128 81
Amortization of junior subordinated debentures 378 360
Net amortization on securities (104) 234
Amortization of intangible assets 6,265 6,977
Deferred taxes (3,320) 1,693
Credit Loss Expense 33,649 7,560
Stock based compensation 3,443 2,794
Net (gains) losses on sale or call of debt securities (3,210) (22)
Net (gains) losses on equity securities (603) (499)
Net OREO (gains) losses and valuation adjustments 399 (301)
Gain on sale of subsidiary or division (9,758) 0
Origination of loans held for sale (45,220) (21,017)
Purchases of loans held for sale (33,811) (24,733)
Proceeds from sale of loans originated for sale 71,782 42,753
Net gains on sale of loans (2,323) (409)
Net (gains) losses on transfer of loans to loans held for sale 466 (229)
Net change in operating leases 92 145
(Increase) decrease in other assets (4,206) (6,759)
Increase (decrease) in other liabilities 15,387 4,017
Net cash provided by (used in) operating activities 60,329 56,487
Cash flows from investing activities:    
Purchases of securities available for sale (128,970) (80,459)
Proceeds from sales of securities available for sale 65,184 40,617
Proceeds from maturities, calls, and pay downs of securities available for sale 78,276 75,777
Proceeds from maturities, calls, and pay downs of securities held to maturity 581 668
Purchases of loans held for investment (277,333) (26,714)
Proceeds from sale of loans 145,513 25,653
Net change in loans (524,820) (603,694)
Purchases of premises and equipment, net (16,283) (9,740)
Net proceeds from sale of OREO 1,918 2,513
(Purchases) redemptions of FHLB and other restricted stock, net 1,396 (8,017)
Net cash (paid for) received in acquisitions (108,375) 0
Proceeds from sale of subsidiary or division, net 93,835 0
Net cash provided by (used in) investing activities (669,078) (583,396)
Cash flows from financing activities:    
Net increase (decrease) in deposits 452,582 247,484
Increase (decrease) in customer repurchase agreements 12,159 9,639
Increase (decrease) in Federal Home Loan Bank advances 5,000 200,000
Proceeds from Paycheck Protection Program Liquidity Facility borrowings 231,370 0
Repayment of Paycheck Protection Program Liquidity Facility borrowings (7,657) 0
Issuance of preferred stock, net of issuance costs 42,364 0
Preferred dividends (899) 0
Purchase of treasury stock (35,772) (50,110)
Net cash provided by (used in) financing activities 699,147 407,013
Net increase (decrease) in cash and cash equivalents 90,398 (119,896)
Cash and cash equivalents at beginning of period 197,880 234,939
Cash and cash equivalents at end of period 288,278 115,043
Supplemental cash flow information:    
Interest paid 33,868 37,336
Income taxes paid, net 4,572 12,797
Cash paid for operating lease liabilities 3,183 3,138
Supplemental noncash disclosures:    
Loans transferred to OREO 1,012 3,001
Loans held for investment transferred to loans held for sale 172,565 27,411
Assets transferred to assets held for sale 84,077 0
Lease liabilities arising from obtaining right-of-use assets $ 1,777 $ 2,179