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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES:    
Net income $ 84,714,000 $ 52,581,000
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and net amortization 8,634,000 9,128,000
Securities premium amortization (discount accretion), net 17,709,000 17,954,000
Loan (discount accretion) premium amortization, net (649,000) (847,000)
Provision for credit losses (13,543,000) 25,746,000
Stock compensation expense 2,189,000 2,253,000
Deferred tax expense (benefit) 3,612,000 (4,305,000)
Net gain on sale of AFS securities (3,399,000) (8,281,000)
Net loss on premises and equipment 315,000 821,000
Gross proceeds from sales of loans held for sale 36,961,000 48,343,000
Gross originations of loans held for sale (34,397,000) (56,646,000)
Net (gain) loss on OREO (180,000) 129,000
Loss due to curtailment 0 163,000
Loss on redemption of subordinated notes 1,118,000 0
Net change in:    
Interest receivable 9,611,000 (1,987,000)
Other assets (2,803,000) (35,530,000)
Interest payable (1,223,000) (3,673,000)
Other liabilities 19,981,000 4,402,000
Net cash provided by operating activities 128,650,000 50,251,000
Securities AFS:    
Purchases (569,807,000) (821,232,000)
Sales 104,728,000 291,581,000
Maturities, calls and principal repayments 243,507,000 316,072,000
Securities HTM:    
Maturities, calls and principal repayments 16,602,000 19,820,000
Proceeds from redemption of FHLB stock and equity investments 19,240,000 20,000,000
Purchases of FHLB stock and equity investments (21,113,000) (5,483,000)
Net loan originations 9,314,000 (222,342,000)
Purchases of premises and equipment (6,491,000) (10,216,000)
Purchases of BOLI (13,000,000) (12,500,000)
Proceeds from sales of premises and equipment 1,853,000 114,000
Net proceeds from sales of OREO 797,000 277,000
Proceeds from sales of repossessed assets 247,000 158,000
Net cash used in investing activities (214,123,000) (423,751,000)
FINANCING ACTIVITIES:    
Net change in deposits 399,303,000 420,068,000
Net change in other borrowings (2,448,000) 13,210,000
Proceeds from FHLB borrowings 11,648,180,000 10,135,401,000
Repayment of FHLB borrowings (11,821,503,000) (10,155,201,000)
Net proceeds from issuance of subordinated notes (95,000) 0
Redemption of subordinated notes (100,011,000) 0
Proceeds from stock option exercises 6,108,000 1,502,000
Cash paid to tax authority related to tax withholding on share-based awards (217,000) (179,000)
Purchase of common stock (34,148,000) (25,842,000)
Proceeds from the issuance of common stock for dividend reinvestment plan 986,000 1,020,000
Cash dividends paid (31,957,000) (30,972,000)
Net cash provided by financing activities 64,198,000 359,007,000
Net (decrease) increase in cash and cash equivalents (21,275,000) (14,493,000)
Cash and cash equivalents at beginning of period 108,408,000 110,697,000
Cash and cash equivalents at end of period 87,133,000 96,204,000
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:    
Interest paid 22,295,000 40,039,000
Income taxes paid 8,750,000 9,000,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Loans transferred to other repossessed assets and real estate through foreclosure 740,000 627,000
Unsettled trades to purchase securities $ (4,433,000) $ (7,294,000)