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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net income $ 102,953 $ 98,928 $ 62,726
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 10,406 4,429 5,303
Amortization of intangible assets 9,547 5,854 5,245
Amortization of mortgage servicing rights 2,710 1,531 1,511
Depreciation and amortization of premises and equipment 11,879 9,556 8,615
Net amortization (accretion) of premium (discount) on portfolio loans (10,905) (10,452) (12,205)
Net amortization (accretion) of premium (discount) on investment securities 6,106 8,311 6,665
Net amortization (accretion) of premium (discount) on time deposits (1,648) (243) (392)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 309 146 140
Impairment of OREO 62 18 42
Impairment of fixed assets held for sale 2,026 817 99
Impairment of leases 348 146  
Change in fair value of equity securities, net 759 (2,162)  
(Gain) loss on sales of securities, net (733) 1,780 (362)
(Gain) loss on sale of loans, net (16,819) (10,446) (45,443)
(Gain) loss on sale of OREO (102) (384) (1,632)
(Gain) loss on sale of premises and equipment 113 162 (327)
Realized (gain) loss on preferred stock and equity securities (8) 51 (781)
(Gain) loss on life insurance proceeds (1,604) (666) (227)
Provision for deferred income taxes 96 7,116 14,100
Stock-based and non-cash compensation 3,997 3,721 2,752
Decrease in deferred compensation (6,781) (3,780) (757)
Increase in cash surrender value of bank owned life insurance (4,191) (3,060) (2,352)
Mortgage loans originated for sale (667,515) (425,322) (1,487,726)
Proceeds from sales of mortgage loans 641,778 504,721 1,693,632
Net change in operating assets and liabilities:      
Decrease in other assets 5,397 9,580 8,925
(Decrease) increase in other liabilities (7,380) 2,195 (4,193)
Net cash provided by operating activities 80,800 202,547 253,358
Cash Flows from Investing Activities      
Purchases of debt securities held to maturity   (217,766) (352,679)
Purchase of equity securities (550)    
Purchases of debt securities available for sale (408,941) (124,234) (141,685)
Purchase of FHLB stock (3,700)    
Proceeds from sales of equity securities 1,474 920  
Proceeds from sales of debt securities available for sale 227,371 122,584 139,765
Proceeds from paydowns and maturities of debt securities held to maturity 14,422 50,560 11,268
Proceeds from paydowns and maturities of debt securities available for sale 541,753 163,582 193,294
Proceeds from the redemption of FHLB stock 5,369 4,864 6,090
Net cash (received) paid in acquisitions (61,481)   26,979
Net change in loans (244,333) (49,864) (169,150)
Cash paid for premiums on bank-owned life insurance (6)    
Purchases of premises and equipment (13,238) (11,618) (14,980)
Proceeds from life insurance 3,915    
Proceeds from disposition of premises and equipment 424 324 2,224
Capitalized expenditures on OREO (2)    
Proceeds from sale of OREO 2,481 5,298 5,024
Net cash provided by (used in) investing activities 64,958 (55,350) (293,850)
Cash Flows from Financing Activities      
Net change in deposits 215,519 123,600 111,788
Net change in federal funds purchased and securities sold under agreements to repurchase (30,904) (118,770) 28,898
Proceeds from other borrowings 60,000   98,312
Repayment of other borrowings (6,000) (5,500) (9,800)
Net change in short-term FHLB advances (23,443) (220,000) 60,300
Repayments of long-term FHLB advances (1,224)   (30,000)
Cash dividends paid (45,171) (39,010) (30,707)
Purchase of treasury stock (24,292)    
Cash paid for withholding taxes on share-based payments (863) (1,208) (2,274)
Proceeds from stock options exercised 169 392 906
Common stock issuance costs (234)   (365)
Net cash provided by (used in) financing activities 143,557 (260,496) 227,058
Net increase (decrease) in cash and cash equivalents 289,315 (113,299) 186,566
Cash and cash equivalents, beginning of period 239,973 353,272 166,706
Cash and cash equivalents, ending of period 529,288 239,973 353,272
Cash Payments for:      
Interest 70,577 40,639 19,342
Income taxes 24,725 23,183 26,419
Non-cash Investing and Financing Activities:      
OREO acquired in settlement of loans 4,872 4,025 $ 1,417
Other assets transferred to equity investments   $ 4,000  
Transfer of debt securities held to maturity to available for sale $ 593,548