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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 24,329 $ 33,923
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 2,950 2,927
Net accretion on loans (1,536) (3,501)
Amortization of subordinated notes issuance costs 212 55
Amortization of junior subordinated debentures 135 129
Net (accretion) amortization on securities (242) 350
Amortization of intangible assets 3,108 1,975
Deferred taxes (127) 4,296
Credit Loss Expense (benefit) 501 (7,845)
Stock based compensation 4,952 1,350
Net (gains) losses on equity securities 419 0
Net OREO (gains) losses and valuation adjustments 132 80
Origination of loans held for sale (4,300) (15,143)
Purchases of loans held for sale 0 (13,148)
Proceeds from sale of loans originated or purchased for sale 3,874 25,253
Net (gains) losses on sale of loans (78) (516)
Net (gains) losses on transfer of loans to loans held for sale 144 (1,053)
Net change in operating leases (19) 46
(Increase) decrease in other assets 9,121 (8,741)
Increase (decrease) in other liabilities 7,550 1,219
Net cash provided by (used in) operating activities 51,125 21,656
Cash flows from investing activities:    
Purchases of securities available for sale (29,131) 0
Proceeds from maturities, calls, and pay downs of securities available for sale 17,415 21,945
Proceeds from maturities, calls, and pay downs of securities held to maturity 213 258
Purchases of loans held for investment (38,113) (27,933)
Proceeds from sale of loans 7,444 20,406
Net change in loans (58,730) (76,116)
Purchases of premises and equipment, net (2,579) (4,913)
Net proceeds from sale of OREO 9 211
(Purchases) redemptions of FHLB and other restricted stock, net (2,050) (3,056)
Net cash provided by (used in) investing activities (105,522) (69,198)
Cash flows from financing activities:    
Net increase (decrease) in deposits 62,805 73,065
Increase (decrease) in customer repurchase agreements 765 (431)
Increase (decrease) in Federal Home Loan Bank advances 50,000 75,000
Proceeds from Paycheck Protection Program Liquidity Facility borrowings 0 146,333
Repayment of Paycheck Protection Program Liquidity Facility borrowings (27,144) (179,397)
Preferred dividends (801) (801)
Stock option exercises (74) 191
Proceeds from employee stock purchase plan common stock issuance 688 0
Purchase of treasury stock (1,316) 0
Net cash provided by (used in) financing activities 84,923 113,960
Net increase (decrease) in cash and cash equivalents 30,526 66,418
Cash and cash equivalents at beginning of period 383,178 314,393
Cash and cash equivalents at end of period 413,704 380,811
Supplemental cash flow information:    
Interest paid 3,405 6,364
Income taxes paid, net 70 (127)
Cash paid for operating lease liabilities 1,192 1,095
Supplemental noncash disclosures:    
Loans transferred to OREO 0 280
Loans held for investment transferred to loans held for sale 1,932 27,407
Assets transferred to assets held for sale 260,085 0
Deposits transferred to deposits held for sale 377,698 0
Lease liabilities arising from obtaining right-of-use assets 0 9,816
Securities available for sale purchased, not settled $ 0 $ 3,000