XML 25 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net Income $ 124,403 $ 77,764 $ 98,739
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 5,482 6,020 6,421
Amortization of premiums and discounts on securities, net 6,220 5,019 2,548
Amortization of operating lease right-of-use assets 4,576 4,362 4,117
Other amortization and accretion, net (13,908) (8,667) (2,005)
Stock based compensation 8,685 7,304 7,243
Origination of loans designated for sale (490,426) (511,706) (329,177)
Sale of loans designated for sale 543,410 477,178 333,591
Provision for credit losses (9,421) 38,179 10,999
Deferred income taxes 3,836 (4,926) 6,791
Losses (gains) on sale of securities 363 (1,096) (1,031)
Gains on sale of loans (15,276) (13,930) (9,794)
(Gains) losses on sale and write-downs of other real estate owned (635) 1,139 (432)
Losses on disposition of fixed assets 817 791 511
Bank owned life insurance death benefits 0 0 (956)
Changes in operating assets and liabilities, net of effects from acquired companies:      
Net increase in other assets (42,437) (35,555) (5,614)
Net increase (decrease) in other liabilities 28,883 18,776 (4,206)
Net Cash Provided by Operating Activities 154,572 60,652 117,745
Cash Flows From Investing Activities      
Maturities and repayments of available-for-sale debt securities 546,339 304,064 101,674
Maturities and repayments of held-to-maturity debt securities 132,916 75,861 42,495
Proceeds from sale of available-for-sale debt securities 84,972 96,732 202,724
Purchases of available-for-sale debt securities (1,145,193) (830,300) (309,461)
Purchases of held-to-maturity debt securities (377,159) 0 0
Maturities of time deposits with other banks 750 2,992 4,501
Net new loans and principal repayments 566,348 (79,100) (109,614)
Purchases of loans held for investment (259,267) 0 (270,791)
Proceeds from the sale of other real estate owned 5,598 8,521 6,509
Additions to other real estate owned (2,513) (2,557) 0
Proceeds from sale of FHLB and Federal Reserve Bank Stock 3,945 39,185 74,120
Purchase of FHLB and Federal Reserve Bank Stock (3,020) (28,278) (75,193)
Redemption of bank owned life insurance 0 0 14,218
Net cash from bank acquisitions 98,100 71,965 0
Purchase of bank owned life insurance (60,000) 0 0
Additions to bank premises and equipment (4,327) (1,587) (2,523)
Net Cash Used in Investing Activities (412,511) (342,502) (321,341)
Cash Flows From Financing Activities      
Net increase in deposits 640,108 844,405 407,513
Net increase (decrease) in repurchase agreements 1,956 33,488 (128,202)
Net decrease in FHLB borrowings with original maturities of three months or less 0 (235,000) (67,000)
Repayments of FHLB borrowings with original maturities of more than three months (33,000) (115,000) (63,000)
Proceeds from FHLB borrowings with original maturities of more than three months 0 35,000 65,000
Stock based employee benefit plans 5,022    
Stock based employee benefit plans   (1,486) (2,135)
Dividends paid (22,506) 0 0
Net Cash Provided by Financing Activities 591,580 561,407 212,176
Net increase in cash and cash equivalents 333,641 279,557 8,580
Cash and Cash Equivalents at Beginning of Year 404,088 124,531 115,951
Cash and Cash Equivalents at End of Year 737,729 404,088 124,531
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 9,977 23,548 46,130
Cash paid during the period for taxes 30,887 27,712 16,000
Recognition of operating lease right-of-use assets, other than through bank acquisition 12,459 2,095 30,301
Recognition of operating lease liabilities, other than through bank acquisition 12,459 2,095 34,627
Supplemental disclosure of non-cash investing activities:      
Transfer of debt securities from available-for-sale to held-to-maturity 210,805 0 0
Transfer of debt securities from held-to-maturity to available-for-sale 0 0 52,796
Unsettled sales of debt securities available-for-sale 17,147 0 0
Transfer from loans to other real estate owned 0 5,624 5,665
Transfer from bank premises to other real estate owned 3,318 1,289 0
Transfer from loans held for investment to loans held for sale $ 0 $ 0 $ 801