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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES:    
Net income $ 55,408,000 $ 25,507,000
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and net amortization 5,780,000 6,053,000
Securities premium amortization (discount accretion), net 12,186,000 11,178,000
Loan (discount accretion) premium amortization, net (683,000) (406,000)
Provision for credit losses (8,472,000) 30,492,000
Stock compensation expense 1,360,000 1,467,000
Deferred tax expense (benefit) 2,022,000 (4,955,000)
Net gain on sale of AFS securities (2,018,000) (8,203,000)
Net loss on premises and equipment 302,000 59,000
Gross proceeds from sales of loans held for sale 27,286,000 25,633,000
Gross originations of loans held for sale (26,101,000) (28,642,000)
Net (gain) loss on OREO (2,000) 9,000
Retirement plan curtailment expense 0 163,000
Net change in:    
Interest receivable 2,112,000 (8,401,000)
Other assets 8,409,000 (9,804,000)
Interest payable (784,000) (1,404,000)
Other liabilities 3,414,000 (21,277,000)
Net cash provided by operating activities 80,219,000 17,469,000
Securities AFS:    
Purchases (392,788,000) (711,897,000)
Sales 46,720,000 285,478,000
Maturities, calls and principal repayments 181,956,000 187,896,000
Securities HTM:    
Maturities, calls and principal repayments 14,220,000 14,405,000
Proceeds from redemption of FHLB stock and equity investments 16,240,000 0
Purchases of FHLB stock and equity investments (18,973,000) (5,545,000)
Net loan originations 15,333,000 (284,755,000)
Purchases of premises and equipment (4,507,000) (7,886,000)
Purchases of BOLI 0 (12,500,000)
Proceeds from sales of premises and equipment 1,850,000 86,000
Net proceeds from sales of OREO 59,000 186,000
Proceeds from sales of repossessed assets 44,000 54,000
Net cash used in investing activities (139,846,000) (534,478,000)
FINANCING ACTIVITIES:    
Net change in deposits 223,822,000 387,651,000
Net change in other borrowings 611,000 42,947,000
Proceeds from FHLB borrowings 7,080,064,000 5,047,401,000
Repayment of FHLB borrowings (7,191,223,000) (4,925,987,000)
Net proceeds from issuance of subordinated long-term debt (95,000) 0
Proceeds from stock option exercises 5,979,000 1,130,000
Cash paid to tax authority related to tax withholding on share-based awards (152,000) (138,000)
Purchase of common stock (18,710,000) (25,842,000)
Proceeds from the issuance of common stock for dividend reinvestment plan 662,000 683,000
Cash dividends paid (21,251,000) (20,727,000)
Net cash provided by financing activities 79,707,000 507,118,000
Net increase (decrease) in cash and cash equivalents 20,080,000 (9,891,000)
Cash and cash equivalents at beginning of period 108,408,000 110,697,000
Cash and cash equivalents at end of period 128,488,000 100,806,000
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:    
Interest paid 14,984,000 28,679,000
Income taxes paid 6,250,000 5,000,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Loans transferred to other repossessed assets and real estate through foreclosure 531,000 380,000
Unsettled trades to purchase securities (41,888,000) (26,359,000)
Unsettled trades to sell securities $ 0 $ 2,923,000