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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows Provided by (Used in) Operating Activities    
Net income $ 37,816 $ 15,364
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses (6,796) 17,216
Amortization of intangible assets 2,401 2,557
Amortization of mortgage servicing rights 1,616 1,276
Depreciation and amortization of premises and equipment 2,808 3,165
Net amortization (accretion) of premium (discount) on portfolio loans (1,947) (2,487)
Net amortization (accretion) of premium (discount) on investment securities 4,554 1,869
Net amortization (accretion) of premium (discount) on time deposits (246) (374)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 214 93
Impairment of mortgage servicing rights (508) 177
Change in fair value of equity securities, net (1,616) 987
(Gain) loss on sales of equity securities, net   (18)
(Gain) loss on sales of debt securities, net (25) (1,556)
(Gain) loss on sales of loans, net (3,369) (3,900)
(Gain) loss on sales of OREO (1) 1
(Gain) loss on sales of premises and equipment (134) 37
(Gain) loss on life insurance proceeds   (14)
Provision for deferred income taxes 2,448 1,722
Stock-based and non-cash compensation 1,448 1,139
(Increase) decrease in cash surrender value of bank owned life insurance (964) (1,043)
Mortgage loans originated for sale (91,479) (182,203)
Proceeds from sales of mortgage loans 98,307 165,008
Net change in operating assets and liabilities:    
(Increase) decrease in other assets 260 991
Increase (decrease) in other liabilities 750 (1,194)
Net cash provided by (used in) operating activities 45,537 18,813
Cash Flows Provided by (Used in) Investing Activities    
Purchases of equity securities (998)  
Purchases of debt securities available for sale (789,884) (273,992)
Proceeds from sales of equity securities 998 29
Proceeds from paydowns and maturities of debt securities available for sale 207,490 158,536
Net (increase) decrease in loans 36,501 (64,338)
Cash paid for premiums on bank-owned life insurance (97) (111)
Purchases of premises and equipment (1,911) (2,314)
Proceeds from life insurance   274
Proceeds from disposition of premises and equipment 1,759 607
Proceeds from sales of OREO 294 81
Net cash provided by (used in) investing activities (545,848) (181,228)
Cash Flows Provided by (Used in) Financing Activities    
Net increase (decrease) in deposits 196,244 71,211
Net change in federal funds purchased and securities sold under agreements to repurchase 34,518 (38,241)
Proceeds from other borrowings   20,000
Repayment of other borrowings   (54,000)
Repayment of FHLB advances (163) (1,193)
Cash dividends paid (12,513) (12,055)
Purchase of treasury stock (1,510) (9,672)
Cash paid for withholding taxes on stock-based payments   (75)
Net cash provided by (used in) financing activities 216,576 (24,025)
Net increase (decrease) in cash and cash equivalents (283,735) (186,440)
Cash and cash equivalents, beginning of period 688,537 529,288
Cash and cash equivalents, ending of period 404,802 342,848
Cash Payments for:    
Interest 1,767 14,391
Income taxes   500
Non-cash Investing and Financing Activities:    
OREO acquired in settlement of loans $ 14 $ 578