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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net income $ 48,417 $ 71,563
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,531 4,899
Amortization of premiums and discounts on securities, net 2,890 1,876
Amortization of operating lease right-of-use assets 3,274 3,068
Other amortization and accretion, net (4,402) (1,914)
Stock based compensation 5,471 5,773
Origination of loans designated for sale (378,069) (234,130)
Sale of loans designated for sale 335,882 227,711
Provision for credit losses 36,279 6,199
Deferred income taxes (6,257) 4,442
(Gains) losses on sale of securities (1,102) 1,538
Gains on sale of loans (10,585) (6,683)
Gains on sale and write-downs of other real estate owned (278) (279)
Losses on disposition of fixed assets 790 506
Bank owned life insurance death benefits 0 (956)
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net increase in other assets (27,735) (1,585)
Net increase (decrease) in other liabilities 9,174 (6,721)
Net cash provided by operating activities 18,280 75,307
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 211,798 67,951
Maturities and repayments of debt securities held-to-maturity 53,409 30,382
Proceeds from sale of debt securities available-for-sale 96,733 122,906
Purchases of debt securities available-for-sale (626,731) (164,451)
Maturities of time deposits with other banks 1,495 3,664
Net new loans and principal repayments (204,282) (48,600)
Purchases of loans held for investment 0 (117,853)
Proceeds from sale of other real estate owned 6,174 5,153
Additions to other real estate owned (2,004) 0
Proceeds from sale of FHLB and Federal Reserve Bank Stock 37,697 46,283
Purchase of FHLB and Federal Reserve Bank Stock (26,976) (36,093)
Net cash from bank acquisitions 71,965 0
Proceeds from bank owned life insurance 0 14,218
Additions to bank premises and equipment (1,373) (2,254)
Net cash used in investing activities (382,095) (78,694)
Cash Flows from Financing Activities    
Net increase in deposits 826,686 495,901
Net increase (decrease) in federal funds purchased and repurchase agreements 3,387 (143,909)
Net decrease in FHLB borrowings with original maturities of three months or less (235,000) (267,000)
Repayments of FHLB borrowings with original maturities of more than three months (80,000) (63,000)
Proceeds from FHLB borrowings with original maturities of more than three months 35,000 0
Stock based employee benefit plans (1,221) (2,296)
Dividends paid 0 0
Net cash provided by financing activities 548,852 19,696
Net increase in cash and cash equivalents 185,037 16,309
Cash and cash equivalents at beginning of period 124,531 115,951
Cash and cash equivalents at end of period 309,568 132,260
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 19,834 35,255
Cash paid during the period for taxes 21,712 13,500
Recognition of operating lease right-of-use assets 1,887 29,430
Recognition of operating lease liabilities 1,887 33,756
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 5,552 5,665
Transfers from bank premises to other real estate owned $ 1,289 $ 0