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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income $ 25,789 $ 45,958
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,031 3,308
Amortization of premiums and discounts on securities, net 1,746 1,223
Amortization of operating lease right-of-use assets 2,363 2,041
Other amortization and accretion, net (366) (1,632)
Stock based compensation 3,524 4,027
Origination of loans designated for sale (203,935) (139,219)
Sale of loans designated for sale 174,450 138,961
Provision for credit losses 37,124 3,948
Deferred income taxes (3,328) 3,736
(Gains) losses on sale of securities (1,092) 643
Gains on sale of loans (5,303) (3,980)
Gains on sale and write-downs of other real estate owned (485) (408)
Losses on disposition of fixed assets 220 464
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net increase in other assets (22,451) (21)
Net increase (decrease) in other liabilities 19,139 (9,623)
Net cash provided by operating activities 30,426 49,426
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 134,488 41,564
Maturities and repayments of debt securities held-to-maturity 33,969 16,935
Proceeds from sale of debt securities available-for-sale 92,314 73,297
Purchases of debt securities available-for-sale (239,160) (87,433)
Maturities of time deposits with other banks 1,246 3,263
Net new loans and principal repayments (431,182) (12,017)
Purchases of loans held for investment 0 (50,562)
Proceeds from sale of other real estate owned 4,503 2,722
Proceeds from sale of FHLB and Federal Reserve Bank Stock 33,448 29,070
Purchase of FHLB and Federal Reserve Bank Stock (26,227) (22,648)
Net cash from bank acquisition 33,883 0
Proceeds from bank owned life insurance 0 12,378
Additions to bank premises and equipment (880) (1,485)
Net cash (used in) provided by investing activities (363,598) 5,084
Cash Flows from Financing Activities    
Net increase in deposits 908,288 363,969
Net increase (decrease) in federal funds purchased and repurchase agreements 6,004 (132,308)
Net decrease in FHLB borrowings with original maturities of three months or less (315,000) (177,000)
Repayments of FHLB borrowings with original maturities of more than three months 0 (63,000)
Proceeds from FHLB borrowings with original maturities of more than three months 135,000 0
Stock based employee benefit plans (1,331) (2,343)
Dividends paid 0 0
Net cash provided by (used in) financing activities 732,961 (10,682)
Net increase in cash and cash equivalents 399,789 43,828
Cash and cash equivalents at beginning of period 124,531 115,951
Cash and cash equivalents at end of period 524,320 159,779
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 15,756 23,200
Cash paid during the period for taxes 3,492 6,000
New operating lease right-of-use assets 52 29,077
New operating lease liabilities 52 33,403
Supplemental disclosure of non cash investing activities:    
Transfer of debt securities from held-to-maturity to available-for-sale 0 52,796
Transfers from loans to other real estate owned 6,186 555
Transfers from bank premises to other real estate owned $ 1,289 $ 0