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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flow From Operating Activities:      
Net income $ 205,531 $ 148,600 $ 164,460
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 0 58,673 2,800
Depreciation and amortization 10,701 11,009 9,383
Change in deferred taxes 6,983 (9,735) 4,965
Share-based compensation 4,762 4,600 4,115
Loans originated for sale (548,742) (591,057) (511,407)
Proceeds from sales of loans held for sale 557,744 611,945 513,357
Gains on sales of loans held for sale (16,223) (15,817) (6,209)
Gains on sales of securities available for sale (5,674) (11,895) (4,415)
Increase in cash surrender of life insurance (4,873) (5,040) (4,518)
Gains on life insurance benefits (2,187) (100) (19)
Change in interest receivable (3,239) (5,047) (4,659)
Change in interest payable (525) (3,467) 1,090
Other adjustments 3,124 11,162 7,784
Net cash provided by operating activities 207,382 203,831 176,727
Cash Flows from Investing Activities:      
Net change in interest-bearing deposits (81,849) (274,042) 199,928
Purchases of:      
Securities available for sale (931,368) (613,117) (676,791)
Securities held to maturity (1,156,621) (699,095) (423,385)
Proceeds from sales of securities available for sale 181,333 231,391 132,837
Proceeds from maturities of:      
Securities available for sale 279,367 322,617 138,356
Securities held to maturity 227,255 273,229 130,502
Net change in loans (60,581) (792,986) (512,364)
Net cash and cash equivalents received (paid) in acquisition (2,933) 0 10,207
Proceeds from the sale of other real estate owned 706 8,655 2,060
Proceeds from life insurance benefits 8,764 601 815
Proceeds from mortgage portfolio loan sale 78,159 0 0
Other investing activities (11,678) (9,278) (8,564)
Net cash used in investing activities (1,469,446) (1,552,025) (1,006,399)
Net change in :      
Demand and savings deposits 1,556,127 2,336,120 883,524
Certificates of deposit and other time deposits (185,160) (814,466) 95,913
Borrowings 45,542 573,757 599,298
Repayment of borrowings (96,204) (621,548) (643,169)
Cash dividends on common stock (61,230) (56,542) (51,276)
Stock issued under employee benefit plans 605 639 702
Stock issued under dividend reinvestment and stock purchase plans 1,880 1,726 1,531
Stock options exercised 198 115 144
Repurchase of common stock (25,444) (55,912) (19,041)
Net cash provided by financing activities 1,236,314 1,363,889 867,626
Net Change in Cash and Cash Equivalents (25,750) 15,695 37,954
Cash and Cash Equivalents, January 1 192,896 177,201 139,247
Cash and Cash Equivalents, December 31 167,146 192,896 177,201
Additional cash flow information:      
Interest paid 36,477 69,848 107,598
Income tax paid 31,168 33,201 23,588
Loans transferred to other real estate owned 292 813 7,031
Fixed assets transferred to other assets 6,384 262 1,210
Non-cash investing activities using trade date accounting 39,923 6,183 0
ROU assets obtained in exchange for new operating lease liabilities 2,700 1,601 23,529
Liabilities assumed in conjunction with acquisitions      
Fair value of assets acquired 4,041 0 1,451,287
Cash received (paid) in acquisition (3,225) 0 (15)
Less: Common stock issued 0 0 229,926
Liabilities assumed $ 816 $ 0 $ 1,221,346