XML 54 R10.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 190,301 $ 63,629 $ 83,814
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization of fixed assets and software 8,416 7,536 5,176
Amortization of core deposit and other intangibles 5,473 5,323 4,339
Capitalization of mortgage servicing rights (39,018) (47,025) (42,151)
Net change in fair value of mortgage servicing rights 3,503 47,660 26,299
Stock-based compensation expense 10,282 10,214 7,089
Provision for credit losses (38,995) 94,606 7,053
Provision for credit losses on unfunded commitments (1,998) 13,361 0
Provision for mortgage loan repurchases (766) 2,607 362
Amortization (accretion) of premiums and discounts on acquired loans, net 853 (3,788) (8,556)
Accretion of discounts and amortization of premiums on securities, net 8,777 7,382 3,026
Gain from securities, net (324) (1,631) (57)
Originations of loans held for sale (6,300,892) (6,650,258) (4,540,652)
Repurchases of loans held for sale (487) 0 (9,919)
Proceeds from sale of loans held for sale 6,387,110 6,487,809 4,662,728
Gain on sale and change in fair value of loans held for sale (161,964) (270,802) (100,228)
Net (gain) loss or write-downs of other real estate owned (2,504) 1,491 (545)
(Gain) loss on other assets (323) 90 104
Relief of goodwill 0 0 100
Provision for deferred income taxes 30,770 (25,530) (1,916)
Earnings on bank-owned life insurance (1,542) (1,556) (242)
Changes in:      
Operating leases (969) 2,664 0
Other assets and interest receivable 59,283 (57,316) (44,938)
Accrued expenses and other liabilities (100,108) 43,532 13,019
Net cash provided by (used in) operating activities 54,878 (270,002) 63,905
Activity in available-for-sale securities:      
Sales 8,855 146,494 24,498
Maturities, prepayments and calls 296,256 220,549 113,018
Purchases (847,212) (424,971) (151,425)
Net change in loans (457,042) 4,383 (364,975)
Net change in commercial loans held for sale 147,276 114,031 0
Sales of FHLB stock 4,294 0 0
Purchases of FHLB stock (5,279) (515) (2,544)
Proceeds from sale of mortgage servicing rights 0 0 29,160
Purchases of premises and equipment (6,102) (5,934) (6,812)
Proceeds from the sale of premises and equipment 0 0 1,275
Proceeds from the sale of other real estate owned 9,396 6,937 3,860
Net cash acquired in business combinations 0 248,447 171,032
Net cash (used in) provided by investing activities (849,558) 310,136 (182,913)
Cash flows from financing activities:      
Net increase in demand deposits 1,685,033 1,519,868 249,348
Net decrease in time deposits (306,173) (328,035) (75,004)
Net increase (decrease) in securities sold under agreements to repurchase 8,517 5,262 (908)
Payments on FHLB advances 0 (250,000) 0
Proceeds from FHLB advances 0 0 68,235
Issuance of subordinated debt, net of issuance costs 0 98,189 0
Payments on subordinated debt (60,000) 0 0
Accretion of subordinated debt fair value premium and amortization of issuance costs, net 17 (397) 0
(Payments on) proceeds from other borrowings (15,000) 15,000 0
Share based compensation withholding payments (10,158) (1,510) (6,097)
Net proceeds from sale of common stock under employee stock purchase program 1,480 978 804
Repurchase of common stock (7,595) 0 0
Dividends paid (21,583) (14,264) (10,045)
Noncontrolling interest distribution (16) (8) 0
Net cash provided by financing activities 1,274,522 1,045,083 226,333
Net change in cash and cash equivalents 479,842 1,085,217 107,325
Cash and cash equivalents at beginning of the period 1,317,898 232,681 125,356
Cash and cash equivalents at end of the period 1,797,740 1,317,898 232,681
Supplemental cash flow information:      
Interest paid 41,238 48,679 55,051
Taxes paid 61,693 20,419 25,290
Supplemental noncash disclosures:      
Transfers from loans to other real estate owned 5,262 2,746 5,487
Transfers from other real estate owned to premises and equipment 0 841 0
Transfers to premises and equipment 0 0 4,290
Loans provided for sales of other real estate owned 704 305 166
Transfers from loans to loans held for sale 10,408 11,483 7,981
Transfers from loans held for sale to loans 86,315 55,766 12,259
Stock consideration paid in business combination 0 480,867 0
Dividends declared not paid on restricted stock units 400 238 149
Decrease to retained earnings for adoption of new accounting standards 0 25,018 1,309
Right-of-use assets obtained in exchange for operating lease liabilities 970 2,393 37,916
Proceeds from Life Insurance Policy $ 0 $ 715 $ 0