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Consolidated statements of cash flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net (loss) income $ (5,599) $ 23,966 $ 18,019 $ 62,242  
Adjustments to reconcile net income to net cash used in operating activities:          
Depreciation and amortization of fixed assets     4,924 3,830  
Amortization of core deposit and other intangibles     3,825 3,180  
Capitalization of mortgage servicing rights     (33,415) (30,319)  
Net change in fair value of mortgage servicing rights 7,175 10,611 42,251 23,832  
Stock-based compensation expense     7,253 5,621  
Provision for credit losses 45,834 1,831 97,837 4,103  
Provision for credit losses on unfunded commitments 9,567 0 13,050 0  
Provision for mortgage loan repurchases 901 107 2,128 255  
Accretion of yield on purchased loans     (3,080) (6,030)  
Accretion of discounts and amortization of premiums on securities, net     4,431 2,113  
Gain from securities, net (583) 20 (618) (75)  
Originations of loans held for sale     (4,739,497) (3,477,658)  
Repurchases of loans held for sale     0 (9,919)  
Proceeds from sale of loans held for sale     4,690,135 3,527,632  
Gain on sale and change in fair value of loans held for sale     (202,336) (72,749)  
Net loss (gain) or write-downs of other real estate owned 1,505 126 1,368 (112)  
Loss (gain) on other assets (226) (44) 156 (52)  
Relief of goodwill     0 100  
Provision for deferred income taxes (15,163) (1,449) (31,543) (5,900)  
Changes in:          
Operating leases     1,309 0  
Other assets and interest receivable     (77,566) (50,509)  
Accrued expenses and other liabilities     59,325 4,243  
Net cash used in operating activities     (142,044) (16,172)  
Activity in available-for-sale securities:          
Sales 28,257 22,740 28,257 24,498  
Maturities, prepayments and calls 67,886 28,694 140,246 78,861  
Purchases     (214,285) (92,059)  
Net change in loans     (133,893) (295,791)  
Purchases of FHLB stock     (515) (2,544)  
Proceeds from sale of mortgage servicing rights     0 29,160  
Purchases of premises and equipment     (2,652) (4,052)  
Proceeds from the sale of premises and equipment     0 1,275  
Proceeds from the sale of other real estate owned 1,411 854 5,561 2,718  
Net cash paid in business combination     248,439 171,032  
Net cash provided by (used in) investing activities     71,158 (86,902)  
Cash flows from financing activities:          
Net increase in demand deposits     1,043,928 231,763  
Net decrease in time deposits     (201,659) (70,594)  
Net increase in securities sold under agreements to repurchase     5,532 1,546  
Net (decrease) increase in FHLB advances     (50,000) 68,235  
Issuance of subordinated debt     100,000 0  
Payments for issuance costs associated with subordinated debt     (1,890) 0  
Proceeds from other borrowings     15,000 0  
Share based compensation withholding payments     (1,268) (3,552)  
Net proceeds from sale of common stock under employee stock purchase program     978 804  
Dividends paid     (10,025) (7,487)  
Net cash provided by financing activities     900,596 220,715  
Net change in cash and cash equivalents     829,710 117,641  
Cash and cash equivalents at beginning of the period     232,681 125,356 $ 125,356
Cash and cash equivalents at end of the period 1,062,391 242,997 1,062,391 242,997 232,681
Supplemental cash flow information:          
Interest paid     36,498 41,463  
Taxes paid     16,449 21,377  
Supplemental noncash disclosures:          
Transfers from loans to other real estate owned 573 1,535 1,579 3,565  
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     9,304 5,460  
Transfers from loans held for sale to loans     (49,508) 11,476  
Stock consideration paid in business combination     480,867 0  
Trade date payable - securities     1,214 3,671 $ 0
Trade date receivable - securities     0 0  
Dividends declared not paid on restricted stock units $ 139 $ 168 139 168  
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 $ 39,011