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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Net income $ 81,461 $ 92,015 $ 82,414
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 36,001 15,833 19,462
Depreciation of premises and equipment 5,673 5,786 5,620
Stock-based compensation 3,293 2,765 3,553
Amortization of investment securities premiums and accretion of discounts, net 6,057 4,014 3,477
Amortization of mortgage servicing rights 2,361 1,312 956
Mortgage servicing rights impairments 812 0 0
Amortization of right of use assets 2,842 3,046 0
Deferred income taxes (24,160) (5,730) (550)
(Gains) losses on investment securities available-for-sale (279) 0 345
Originations of loans held for sale, net of principal collected (330,990) (145,097) (78,450)
Proceeds from the sales of loans held for sale 351,337 139,050 82,127
Net gains on sale of loans held for sale (12,955) (2,940) (1,844)
Net gains on sale of other real estate and repossessions (138) (487) (561)
Net gain on sale of premises and equipment 0 (1,251) (128)
Change in interest receivable (1,117) (245) (1,747)
Change in interest payable (9,923) 4,968 2,997
Change in other assets 12,782 11,213 (7,048)
Change in other liabilities 10,293 13,492 21,884
Other 940 1,734 940
Net change in operating activities 154,493 164,606 159,695
Investing activities:      
Proceeds from sales of investment securities available-for-sale 8,403 0 11,392
Proceeds from maturities and paydowns of investment securities available-for-sale 443,617 317,295 145,167
Purchases of investment securities available-for-sale (597,296) (351,189) (255,205)
Net change in partnership investments (54,981) (33,840) (13,669)
Net change in other investments 985 (10) (2,451)
Loans sold or participated to others 17,462 53,369 22,835
Proceeds from principal payments on direct finance leases 54,771 69,188 50,457
Net change in loans and leases (489,477) (392,475) (405,961)
Net change in equipment owned under operating leases 26,414 (2,495) (21,107)
Purchases of premises and equipment (2,850) (8,033) (3,058)
Proceeds from disposal of premises and equipment 23 3,418 216
Proceeds from sales of other real estate and repossessions 10,271 10,855 13,433
Net change in investing activities (582,658) (333,917) (457,951)
Financing activities:      
Net change in demand deposits and savings accounts 1,069,843 54,272 171,799
Net change in time deposits (481,141) 180,732 197,793
Net change in short-term borrowings 4,748 (53,451) (15,251)
Proceeds from issuance of long-term debt 10,000 0 0
Payments on long-term debt (2,905) (2,695) (1,735)
Stock issued under stock purchase plans 39 49 145
Acquisition of treasury stock (6,415) (15,085) (9,271)
Net change in noncontrolling interests 23,442 18,796 1,508
Cash dividends paid on common stock (29,764) (29,021) (25,686)
Net change in financing activities 587,847 153,597 319,302
Net change in cash and cash equivalents 159,682 (15,714) 21,046
Cash and cash equivalents, beginning of year 83,365 99,079 78,033
Cash and cash equivalents, end of year 243,047 83,365 99,079
Leased equipment      
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation $ 20,203 $ 25,128 $ 26,248