XML 84 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Operating activities      
Net income $ 2,008,000 $ 45,110,000  
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Provision for credit losses on loans 26,350,000 1,500,000  
Depreciation, amortization and accretion 4,937,000 409,000  
Deferred income tax (benefit) expense (2,791,000) 5,949,000  
Funding of mortgage loans held for sale (715,760,000) (384,103,000)  
Proceeds from sales of mortgage loans held for sale 607,017,000 416,032,000  
Gains on sales of mortgage loans held for sale (21,782,000) (7,888,000)  
Valuation adjustment to mortgage servicing rights 9,571,000 0 $ 1,836,000
Gains on sales of securities 0 (13,000)  
Gains on sales of premises and equipment 0 (89,000)  
Stock-based compensation expense 2,750,000 2,637,000  
Net change in other loans held for sale 0 70,375,000  
(Decrease) increase in other assets (70,631,000) 5,982,000  
Increase (decrease) in other liabilities 35,331,000 (15,794,000)  
Net cash (used in) provided by operating activities (123,000,000) 140,107,000  
Investing activities      
Purchases of securities available for sale (123,670,000) (49,577,000)  
Proceeds from sales of securities available for sale 0 10,611,000  
Proceeds from call/maturities of securities available for sale 76,269,000 48,509,000  
Net increase in loans (69,337,000) (808,000)  
Purchases of premises and equipment (1,941,000) (7,242,000)  
Proceeds from sales of premises and equipment 0 135,000  
Net change in FHLB stock (12,432,000) 10,441,000  
Proceeds from sales of other assets 770,000 12,965,000  
Other, net 0 (104,000)  
Net cash (used in) provided by investing activities (130,341,000) 24,930,000  
Financing activities      
Net increase in noninterest-bearing deposits 90,289,000 47,517,000  
Net increase in interest-bearing deposits 109,115,000 93,175,000  
Net increase (decrease) in short-term borrowings 313,946,000 (300,116,000)  
Repayment of long-term debt (43,000) (216,000)  
Cash paid for dividends (12,555,000) (12,442,000)  
Repurchase of shares in connection with stock repurchase program (24,569,000) 0  
Net cash provided by (used in) financing activities 476,183,000 (172,082,000)  
Net increase (decrease) in cash and cash equivalents 222,842,000 (7,045,000)  
Cash and cash equivalents at beginning of period 414,930,000 569,111,000 569,111,000
Cash and cash equivalents at end of period 637,772,000 562,066,000 $ 414,930,000
Supplemental disclosures      
Cash paid for interest 26,264,000 23,887,000  
Cash paid for income taxes 4,176,000 5,325,000  
Noncash transactions:      
Transfers of loans to other real estate owned 1,641,000 885,000  
Financed sales of other real estate owned 159,000 120,000  
Recognition of operating right-of-use assets 1,968,000 54,338,000  
Recognition of operating lease liabilities $ 2,034,000 $ 57,857,000