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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income $ 71,563 $ 51,313
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,899 4,691
Amortization of premiums and discounts on securities, net 1,876 2,567
Amortization of operating lease right-of-use assets 3,068 0
Other amortization and accretion, net (1,914) 185
Stock based compensation 5,773 5,603
Origination of loans designated for sale (234,130) (225,929)
Sale of loans designated for sale 227,711 239,316
Provision for loan losses 6,199 9,388
Deferred income taxes 4,442 5,675
Losses on sale of securities 1,538 0
Gains on sale of loans (6,683) (7,752)
Gains on sale and write-downs of other real estate owned (279) (12)
Losses on disposition of fixed assets 506 216
Bank owned life insurance death benefits (956) 0
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net increase in other assets (1,585) (4,052)
Net (decrease) increase in other liabilities (6,721) 3,644
Net cash provided by operating activities 75,307 84,853
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available for sale 67,951 107,728
Maturities and repayments of debt securities held to maturity 30,382 48,945
Proceeds from sale of debt securities available for sale 122,906 0
Purchases of debt securities available for sale (164,451) (104,650)
Maturities of time deposits with other banks 3,664 2,740
Net new loans and principal repayments (48,600) (225,570)
Purchases of loans held for investment (117,853) (19,541)
Proceeds from sale of other real estate owned 5,153 9,260
Proceeds from sale of FHLB and Federal Reserve Bank Stock 46,283 28,751
Purchase of FHLB and Federal Reserve Bank Stock (36,093) (33,681)
Proceeds from sale of Visa Class B Stock 0 21,333
Proceeds from bank owned life insurance 14,218 4,232
Additions to bank premises and equipment (2,254) (3,557)
Net cash used in investing activities (78,694) (164,010)
Cash Flows from Financing Activities    
Net increase in deposits 495,901 50,790
Net decrease in federal funds purchased and repurchase agreements (143,909) (27,059)
Net decrease in FHLB borrowings with original maturities of three months or less (267,000) (10,000)
Repayments of FHLB borrowings with original maturities of more than three months (63,000) 0
Proceeds from FHLB borrowings with original maturities of more than three months 0 60,000
Stock based employee benefit plans (2,296) 1,016
Dividends paid 0 0
Net cash provided by financing activities 19,696 74,747
Net increase (decrease) in cash and cash equivalents 16,309 (4,410)
Cash and cash equivalents at beginning of period 115,951 109,504
Cash and cash equivalents at end of period 132,260 105,094
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 35,255 18,952
Cash paid during the period for taxes 13,500 9,200
New operating lease right-of-use assets 29,430 0
New operating lease liabilities 33,756 0
Supplemental disclosure of non cash investing activities:    
Transfer of debt securities from held to maturity to available for sale 52,796 0
Transfers from loans to other real estate owned 5,665 4,271
Transfers from bank premises to other real estate owned $ 0 $ 2,052