XML 22 R9.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 Provided by (Used in) Operating Activities      
Net income $ 123,449 $ 100,344 $ 102,953
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for credit losses (15,101) 38,797 10,406
Amortization of intangible assets 11,274 10,008 9,547
Amortization of mortgage servicing rights 5,292 5,667 2,710
Depreciation and amortization of premises and equipment 11,610 12,273 11,879
Net amortization (accretion) on portfolio loans (11,545) (15,372) (3,383)
Net amortization (accretion) of premium (discount) on investment securities 24,251 9,716 6,106
Net amortization (accretion) of premium (discount) on time deposits (1,142) (933) (1,648)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 826 586 309
Impairment of OREO 1 68 62
Impairment of fixed assets held for sale 3,227 6,901 2,026
Impairment of mortgage servicing rights (639) 648  
Amortization of NMTC 5,563 2,311 1,200
Impairment of leases     348
Change in fair value of equity securities, net (3,041) 393 759
(Gain) loss on sales of equity securities, net     (8)
(Gain) loss on sales of debt securities, net (29) (1,724) (733)
(Gain) loss on sales of loans, net (9,323) (26,999) (16,819)
(Gain) loss on sales of OREO 174 (133) (102)
(Gain) loss on sales of premises and equipment (1,023) 286 113
(Gain) loss on life insurance proceeds (1,257) (1,270) (1,604)
(Increase) decrease in cash surrender value of bank owned life insurance (3,909) (4,110) (4,191)
Provision for deferred income taxes 4,665 (5,309) 96
Stock-based compensation 7,864 7,135 3,997
Increase (decrease) in deferred compensation     (6,781)
Mortgage loans originated for sale (274,356) (881,398) (667,515)
Proceeds from sales of mortgage loans 306,074 920,050 641,778
Net change in operating assets and liabilities:      
(Increase) decrease in other assets 7,203 (8,210) 4,197
Increase (decrease) in other liabilities (28,096) (6,551) (7,380)
Net cash provided by (used in) operating activities 162,012 163,174 88,322
Cash Flows Provided by (Used in) Investing Activities      
Purchases of equity securities (11,017) (13,123) (550)
Purchases of debt securities available for sale (2,298,055) (1,282,199) (408,941)
Purchases of FHLB stock     (3,700)
Proceeds from sales of equity securities 7,254 13,152 1,474
Proceeds from sales of debt securities available for sale 290,955   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 868,083 665,744 541,753
Proceeds from the redemption of FHLB stock     5,369
Net cash received in (paid for) acquisitions (see Note 2) 228,279   (61,481)
Net (increase) decrease in loans 76,826 (113,744) (251,855)
Cash paid for premiums on bank-owned life insurance (124) (120) (6)
Proceeds from life insurance 4,755 2,696 3,915
Purchases of premises and equipment (5,042) (4,198) (13,238)
Proceeds from disposition of premises and equipment 7,306 814 424
Capitalized expenditures on OREO     (2)
Proceeds from sales of OREO 1,590 1,439 2,481
Net cash provided by (used in) investing activities (829,190) (729,539) 57,436
Cash Flows Provided by (Used in) Financing Activities      
Net increase (decrease) in deposits 767,474 776,386 215,519
Net change in federal funds purchased and securities sold under agreements to repurchase 77,874 (29,877) (30,904)
Proceeds from FHLB advances 5,000 4,000  
Repayment of FHLB advances (4,658) (32,711) (24,667)
Proceeds from other borrowings 72,500 142,634 60,000
Repayment of other borrowings (18,500) (74,000) (6,000)
Cash dividends paid (50,764) (48,012) (45,171)
Purchase of treasury stock (33,043) (12,272) (24,292)
Cash paid for withholding taxes on stock-based payments (997) (635) (863)
Proceeds from stock options exercised   101 169
Common stock issuance costs (150)   (234)
Net cash provided by (used in) financing activities 814,736 725,614 143,557
Net increase (decrease) in cash and cash equivalents 147,558 159,249 289,315
Cash and cash equivalents, beginning of period 688,537 529,288 239,973
Cash and cash equivalents, ending of period 836,095 688,537 529,288
Cash payments for:      
Interest 25,374 53,601 70,577
Income taxes 12,542 22,195 24,725
Non-cash investing and financing activities:      
OREO acquired in settlement of loans 1,610 $ 2,867 4,872
Transfer of loans held for sale to portfolio loans $ (4,808)    
Transfer of debt securities held to maturity to available for sale     $ 593,548