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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net income per consolidated statements of income $ 51,962 $ 22,218
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense, net (19,868) 27,364
Depreciation and amortization 11,126 8,996
Net amortization of securities 5,430 1,918
Gains on sales of loans, net (25,796) (7,085)
Compensation expense, long-term incentive plan 2,181 1,394
Deferred income tax provision 9,000 (11,600)
Proceeds from sales of loans held for sale 685,151 324,167
Purchases and originations of loans held for sale (643,175) (416,687)
Originations of mortgage servicing rights (7,978) (3,649)
Earnings on bank-owned life insurance (1,216) (1,292)
Net change in other assets 21,070 (49,822)
Net change in other liabilities 9,096 (204)
Other operating activities, net (13,640) 25,119
Net cash from operating activities 83,343 (79,163)
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 44,688 34,459
Proceeds from maturities, prepayments and calls of securities available for sale 217,783 86,129
Purchases of securities available for sale (590,517) (278,691)
Net proceeds from bank-owned life insurance 1,818 280
Net change in federal funds sold and securities purchased under reverse repurchase agreements 50 (2,000)
Net change in member bank stock (3) (107)
Net change in LHFI and PPP loans (226,385) (162,097)
Purchases of premises and equipment (8,152) (4,154)
Proceeds from sales of other real estate 909 3,671
Purchases of software (818) (1,805)
Investments in tax credit and other partnerships (7,149) (141)
Purchase of insurance book of business 0 (3,097)
Net cash from investing activities (567,776) (327,553)
Financing Activities    
Net change in deposits 334,676 330,207
Net change in federal funds purchased and securities sold under repurchase agreements (3,528) 165,801
Net change in short-term borrowings (4,220) (127)
Payments on long-term FHLB advances (4) (17)
Payments under finance lease obligations (354) (459)
Common stock dividends (14,685) (14,706)
Repurchase and retirement of common stock (4,185) (27,538)
Shares withheld to pay taxes, long-term incentive plan (1,230) (1,020)
Net cash from financing activities 306,470 452,141
Net change in cash and cash equivalents (177,963) 45,425
Cash and cash equivalents at beginning of period 1,952,504 358,916
Cash and cash equivalents at end of period $ 1,774,541 $ 404,341