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Consolidated statements of cash flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 22,873 $ 18,688 $ 23,618 $ 38,276  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation expense     3,231 2,450  
Amortization of core deposit and other intangibles 1,205 1,254 2,408 1,983  
Capitalization of mortgage servicing rights     (20,063) (19,932)  
Net change in fair value of mortgage servicing rights 14,340 8,863 35,076 13,221  
Stock-based compensation expense     4,233 3,785  
Provision for credit losses 24,039 881 52,003 2,272  
Provision for credit losses on unfunded commitments 1,882 0 3,483 0  
Provision for mortgage loan repurchases 855 89 1,227 148  
Accretion of yield on purchased loans     (2,554) (3,928)  
Accretion of discounts and amortization of premiums on securities, net     2,077 1,296  
Gain from securities, net 28 (52) (35) (95)  
Originations of loans held for sale     (2,807,047) (2,240,059)  
Repurchases of loans held for sale     0 (9,670)  
Proceeds from sale of loans held for sale     2,739,933 2,269,654  
Gain on sale and change in fair value of loans held for sale     (113,888) (42,425)  
Net gain on other real estate owned (86) (277) (137) (238)  
Loss (gain) on other assets 54 183 382 (8)  
Relief of goodwill due to sale of TPO mortgage delivery channel     0 100  
Provision for deferred income taxes (8,292) (232) (16,380) (4,451)  
Changes in:          
Operating leases     370 0  
Other assets and interest receivable     (104,474) (39,331)  
Accrued expenses and other liabilities     48,799 13,803  
Net cash used in operating activities     (147,738) (13,149)  
Activity in available-for-sale securities:          
Sales 0 0 0 1,758  
Maturities, prepayments and calls 44,703 29,353 72,360 50,167  
Purchases     (59,984) (54,218)  
Net change in loans     (196,303) (239,425)  
Purchases of FHLB stock     (1,176) (2,544)  
Proceeds from sale of mortgage servicing rights     0 29,160  
Purchases of premises and equipment     (4,827) (1,011)  
Proceeds from the sale of premises and equipment     0 290  
Proceeds from the sale of other real estate owned 2,708 1,148 4,150 1,864  
Net cash paid in business combination     (4,227) 171,032  
Net cash used in investing activities     (190,007) (42,927)  
Cash flows from financing activities:          
Net increase in demand deposits     891,237 71,898  
Net (decrease) increase in time deposits     (82,909) 10,334  
Net increase in securities sold under agreements to repurchase and federal funds purchased     5,795 16,716  
Net increase in FHLB advances     0 3,235  
Proceeds from other borrowings     15,000 0  
Share-based compensation withholding payments     (1,162) (2,510)  
Net proceeds from sale of common stock     446 364  
Dividends paid     (5,751) (4,981)  
Net cash provided by financing activities     822,656 95,056  
Net change in cash and cash equivalents     484,911 38,980  
Cash and cash equivalents at beginning of the period     232,681 125,356 $ 125,356
Cash and cash equivalents at end of the period 717,592 164,336 717,592 164,336 232,681
Supplemental cash flow information:          
Interest paid     23,081 23,869  
Taxes paid     1,590 12,823  
Supplemental noncash disclosures:          
Transfers from loans to other real estate owned 641 924 1,006 2,030  
Transfers from other real estate owned to premises and equipment     841 0  
Transfers from premises and equipment to other real estate owned     0 2,640  
Loans provided for sales of other real estate owned 0 0 0 166  
Transfers from loans to loans held for sale     6,317 116  
Transfers from loans held for sale to loans     14,358 6,732  
Stock consideration paid in business combination     35,041 0  
Trade date payable - securities     5,431 1,089 $ 0
Trade date receivable - securities     0 86  
Dividends declared not paid on restricted stock units $ 77 $ 119 77 119  
Decrease to retained earnings for adoption of new accounting standards     25,018 1,309  
Right-of-use assets obtained in exchange for operating lease liabilities     $ 806 $ 38,249