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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 74,312 $ 60,421
Adjustments reconciling net income to net cash provided by operating activities:    
Depreciation 4,842 4,648
Net losses on sale or disposal of premises and equipment 15 15
Provision for credit losses 21,105 49,729
Net write-downs and (gains) losses on sale of other real estate owned (177) (49)
Share-based compensation expense 3,134 2,197
Amortization of intangible assets 4,422 4,706
Amortization of operating lease right of use assets 2,606 2,872
Provision for deferred taxes (644) (2,807)
Net accretion of debt securities available-for-sale (924) (1,417)
Net accretion of debt securities held-to-maturity (49) (39)
Net amortization of other investments 394 388
Net (gain) loss on securities 7 (6)
Accretion of discount on purchased loans, net 184 (420)
Net amortization on other borrowings 68 627
Amortization of subordinated deferrable interest debentures 499 498
Originations of mortgage loans held for sale (858,557) (754,727)
Payments received on mortgage loans held for sale 2,167 3,661
Proceeds from sales of mortgage loans held for sale 778,499 748,633
Net gains on sale of mortgage loans held for sale (9,868) (2,919)
Originations of SBA loans (3,538) (8,873)
Proceeds from sales of SBA loans 2,432 5,648
Net gains on sale of SBA loans (223) (175)
Increase in cash surrender value of bank owned life insurance (2,568) (2,200)
Gain on bank owned life insurance proceeds (998) (486)
Gain on debt redemption (169) 0
Change attributable to other operating activities 1,609 21,776
Net cash provided by operating activities 18,580 131,701
Investing Activities    
Purchases of debt securities available-for-sale (58,809) 0
Purchases of debt securities held-to-maturity (6,321) 0
Proceeds from maturities and paydowns of debt securities available-for-sale 42,835 19,280
Proceeds from maturities and paydowns of debt securities held-to-maturity 860 728
Net increase in other investments (6,087) (36,105)
Net increase in loans (345,953) (153,072)
Purchases of premises and equipment (3,437) (3,258)
Proceeds from sale of premises and equipment 214 0
Proceeds from sales of other real estate owned 6,661 1,042
Proceeds from bank owned life insurance 0 1,890
Net cash used in investing activities (370,037) (169,495)
Financing Activities    
Net increase in deposits 288,881 434,717
Proceeds from other borrowings 983,000 6,655,000
Repayment of other borrowings (861,105) (6,130,036)
Proceeds from exercise of stock options 0 476
Dividends paid - common stock (10,477) (10,584)
Purchase of treasury shares (4,894) (9,058)
Net cash provided by financing activities 395,405 940,515
Net increase in cash and cash equivalents 43,948 902,721
Cash and cash equivalents at beginning of period 1,167,304 1,118,132
Cash and cash equivalents at end of period 1,211,252 2,020,853
Cash paid (received) during the period for:    
Interest 130,031 76,589
Income taxes 398 (1)
Loans transferred to other real estate owned 2,443 1,652
Loans transferred from loans held for sale to loans held for investment 6,088 5,734
Right-of-use assets obtained in exchange for new operating lease liabilities 982 1,942
Change in unrealized loss on securities available-for-sale, net of tax $ (4,020) $ 10,926