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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net (loss) income $ (19,841) $ 49,029
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 106,809 7,854
Provision for unfunded loan commitments 0 208
Net depreciation, amortization and accretion 1,868 2,872
Net amortization of discounts and premiums on securities 2,189 1,562
Stock-based compensation expense 473 980
Gain on sale of securities (142) 0
Gain on the sale of mortgage loans, net (2,433) (683)
Mortgage loans originated for sale (169,243) (38,720)
Proceeds from the sale of mortgage loans 162,216 33,639
Net change in:    
Interest receivable (3,201) (1,235)
Collateral receivable (91,736) 0
Interest payable (1,837) (1,582)
Other assets (77,724) (11,006)
Other liabilities 61,034 15,978
Net Cash (Used in) Provided by Operating Activities (31,568) 58,896
INVESTING ACTIVITIES    
Purchases of securities (80,292) (9,438)
Proceeds from maturities, prepayments and calls of securities 81,156 40,260
Proceeds from sales of securities 1,349 0
Net proceeds from sales of Federal Home Loan Bank stock 7,826 6,944
Net increase in loans (491,457) (95,691)
Proceeds from sale of loans not originated for resale 0 465
Purchases of premises and equipment (2,862) (2,559)
Proceeds from the sale of premises and equipment 0 9
Net Cash Used in Investing Activities (484,280) (60,010)
FINANCING ACTIVITIES    
Net increase in core deposits 902,933 246,561
Net decrease in certificates of deposit (71,007) (63,736)
Net increase (decrease) in securities sold under repurchase agreements 72,271 (4,229)
Net decrease in short-term borrowings (196,778) (175,000)
Repayments on long-term borrowings (2,864) (523)
Treasury shares issued-net (594) (891)
Cash dividends paid to common shareholders (22,012) (18,559)
Repurchase of common stock (12,559) (15,122)
Net Cash Provided by (Used in) Financing Activities 669,390 (31,499)
Net increase (decrease) in cash and cash equivalents 153,542 (32,613)
Cash and cash equivalents at beginning of period 197,823 155,489
Cash and Cash Equivalents at End of Period 351,365 122,876
Supplemental Disclosures    
Leased right-of-use operating assets and lease liabilities 91 37,263
Interest paid 29,721 38,612
Income taxes paid, net of refunds 210 4,557
Transfers of loans to other real estate owned $ 513 $ 215