XML 63 R9.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income $ 74,382 $ 73,638
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 8,039 4,024
Amortization of intangible assets 6,866 4,450
Amortization of Mortgage Servicing Rights ("MSR") 2,061 1,153
Depreciation and amortization of premises and equipment 8,701 7,158
Net amortization (accretion) of premium (discount) on portfolio loans (8,300) (8,615)
Net amortization (accretion) of premium (discount) on investment securities 4,538 6,545
Net amortization (accretion) of premium (discount) on time deposits (1,243) (191)
Net amortization (accretion) of premium (discount) on Federal Home Loan Bank ("FHLB") advances and other borrowings 216 109
Impairment of other real estate owned ("OREO") 26  
Impairment of fixed assets held for sale   817
Impairment of MSR 1,822  
Change in fair value of loans held for sale, net (1,022)  
Change in fair value of equity securities, net 735 (2,699)
(Gain) loss on sales of securities, net (112) (160)
(Gain) loss on sale of loans, net (11,022) (7,805)
(Gain) loss on sale of OREO (81)  
(Gain) loss on sale of premises and equipment 114 186
(Gain) loss life insurance proceeds (1,509)  
Provision for deferred income taxes 3,816 4,696
Stock-based and non-cash compensation 3,236 2,666
Decrease in deferred compensation (3,339)  
Increase in cash surrender value of bank owned life insurance (3,050) (926)
Mortgage loans originated for sale (468,227) (336,169)
Proceeds from sales of mortgage loans 437,525 406,205
Net change in operating assets and liabilities:    
(Increase) decrease in other assets 1,746 (2,580)
Decrease to other liabilities (3,603) (5,366)
Net cash provided by operating activities 52,315 147,136
Cash Flows from Investing Activities    
Purchases of debt securities held to maturity   (217,767)
Purchases of debt securities available for sale (296,806) (122,954)
Purchase of FHLB stock (3,700) (25,990)
Proceeds from sales of securities classified held to maturity   31,815
Proceeds from sales of equity securities 958 920
Proceeds from sales of debt securities available for sale 227,371  
Proceeds from paydowns and maturities of debt securities held to maturity 14,422  
Proceeds from paydowns and maturities of debt securities available for sale 366,624 115,522
Proceeds from the redemption of FHLB stock 3,720 23,379
Net cash (received) paid in acquisitions (61,481)  
Net change in loans (227,069) (104,195)
Cash paid for premiums on bank-owned life insurance (3)  
Purchases of premises and equipment (10,746) (10,436)
Proceeds from life insurance 3,915  
Proceeds from disposition of premises and equipment 393 26
Capitalized expenditures on OREO (2)  
Proceeds from sale of OREO 2,071 4,275
Net cash provided by (used in) investing activities 19,667 (305,405)
Cash Flows from Financing Activities    
Net change in deposits 243,184 69,796
Net change in federal funds purchased and securities sold under agreements to repurchase (33,895) (48,660)
Proceeds from other borrowings 60,000  
Repayment of FHLB advances, net (3,479) (20,000)
Repayment of other borrowings (4,500) (5,500)
Cash dividends paid (33,579) (29,238)
Purchase of treasury stock (13,323)  
Cash paid for withholding taxes on share based payments (841) (1,136)
Proceeds from stock options exercised 169 387
Common stock issuance costs (234)  
Net cash provided by (used in) financing activities 213,502 (34,351)
Net increase (decrease) in cash and cash equivalents 285,484 (192,620)
Cash and cash equivalents, beginning of period 239,973 353,272
Cash and cash equivalents, ending of period 525,457 160,652
Cash Payments for:    
Interest 51,230 26,665
Income taxes 15,205 20,127
Non-cash Investing and Financing Activities:    
OREO acquired in settlement of loans 2,349 $ 3,706
Transfer of debt securities held to maturity to available for sale $ 573,639