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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 42,594 $ 50,290
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan and lease losses 10,903 2,398
Impairment loss on assets held for sale 0 2,547
Depreciation and amortization of premises and equipment 2,239 3,146
Net amortization of securities 2,396 4,505
Net change in fair value of equity securities, net 732 (311)
Net realized gains on securities available-for-sale (52) (1,326)
Net gains on sales and valuation adjustments of premises and equipment (16) (282)
Net gains on sales of loans (20,810) (20,589)
Originations of U.S. government guaranteed loans (176,380) (194,507)
Proceeds from U.S. government guaranteed loans sold 231,405 240,323
Accretion of premiums and discounts on acquired loans, net (2,859) (3,363)
Net change in servicing assets 1,589 (2,641)
Net losses (gains) on sales and valuation adjustments of other real estate owned (25) 869
Net amortization of other acquisition accounting adjustments 3,464 3,563
Amortization of subordinated debt issuance cost 87 87
Accretion of junior subordinated debentures discount 217 231
Share-based compensation expense 2,817 1,857
Deferred tax provision, net of valuation 2,265 3,950
Increase in cash surrender value of bank owned life insurance (1,059) (619)
Changes in assets and liabilities:    
Accrued interest receivable and other assets (12,177) (6,698)
Accrued interest payable and other liabilities 65,560 (15,603)
Net cash provided by operating activities 152,890 67,827
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of securities available-for-sale (74,561) (490,527)
Proceeds from maturities and calls of securities available-for-sale 19,315 25,867
Proceeds from paydowns of securities available-for-sale 83,987 198,969
Proceeds from sales of securities available-for-sale 13,006 280,962
Proceeds from maturities and calls of securities held-to-maturity 0 500
Purchases of Federal Home Loan Bank stock, net (8,000) (1,420)
Net change in loans and leases (634,619) (133,221)
Purchases of premises and equipment (2,673) (1,136)
Proceeds from sales of premises and equipment 28 296
Proceeds from sales of assets held for sale 2,268 2,798
Proceeds from sales of other real estate owned 225 1,500
Investment in bank owned life insurance 0 (50,000)
Net cash used in investing activities (601,024) (165,412)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 233,330 340,198
Proceeds from short-term borrowings 12,387,000 7,206,000
Repayments of short-term borrowings (12,182,000) (7,328,000)
Proceeds from Paycheck Protection Program Liquidity Facility ("PPPLF") advances 0 196,679
Repayments of PPPLF advances 0 (263,929)
Net increase (decrease) in securities sold under agreements to repurchase 23,369 (11,815)
Dividends paid on preferred stock (196) (391)
Dividends paid on common stock (6,769) (4,584)
Proceeds from issuance of common stock 927 1,159
Redemption of preferred stock (10,438) 0
Repurchases of common stock (13,119) (18,456)
Net cash provided by financing activities 432,104 116,861
NET CHANGE IN CASH AND CASH EQUIVALENTS (16,030) 19,276
CASH AND CASH EQUIVALENTS, beginning of period 157,931 83,420
CASH AND CASH EQUIVALENTS, end of period 141,901 102,696
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 7,118 6,913
Cash paid during the period for taxes 15,156 11,062
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Transfer of loans to other real estate owned 2,837 436
Common dividend declared, not paid $ 27 $ 50