XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities    
Net income $ 53,343 $ 65,129
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,832 2,792
Amortization of premiums and discounts on securities, net 623 4,012
Amortization of operating lease right-of-use assets 2,961 2,127
Other amortization and accretion, net (635) (7,307)
Stock based compensation 4,116 4,262
Origination of loans designated for sale (121,402) (283,001)
Sale of loans designated for sale 143,326 318,479
Provision for credit losses 7,378 (10,570)
Deferred income taxes 4,026 4,833
Losses on sale of securities 0 73
Gains on sale of loans (3,992) (9,411)
Gains on sale and write-downs of other real estate owned (1,302) (380)
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to other real estate owned 172 316
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net decrease in other assets 11,213 1,086
Net decrease in other liabilities (4,318) (10,726)
Net cash provided by operating activities 98,341 81,714
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 164,223 288,171
Maturities and repayments of debt securities held-to-maturity 49,652 73,697
Proceeds from sale of debt securities available-for-sale 26,011 56,217
Purchases of debt securities available-for-sale (474,124) (468,430)
Purchases of debt securities held-to-maturity (206,065) (172,004)
Maturities of time deposits with other banks 1,743 0
Net new loans and principal repayments (133,458) 346,173
Purchases of loans held for investment (111,292) (38,822)
Proceeds from sale of other real estate owned 14,208 4,954
Additions to other real estate owned (590) (1,310)
Proceeds from sale of FHLB and Federal Reserve Bank Stock 0 2,704
Purchase of FHLB and Federal Reserve Bank Stock (3,347) (59)
Net cash from bank acquisitions 208,933 0
Purchase of bank owned life insurance 0 (25,000)
Additions to bank premises and equipment (2,545) (701)
Net cash (used in)/provided by investing activities (466,651) 65,590
Cash Flows from Financing Activities    
Net increase in deposits 559,085 903,875
Net (decrease) increase in repurchase agreements (10,987) 364
Stock based employee benefit plans 2,361 369
Dividends paid (18,510) (7,155)
Net cash provided by financing activities 531,949 897,453
Net increase in cash and cash equivalents 163,639 1,044,757
Cash and cash equivalents at beginning of period 737,729 404,088
Cash and cash equivalents at end of period 901,368 1,448,845
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 3,779 6,462
Cash paid during the period for taxes 9,591 17,700
Recognition of operating lease right-of-use assets, other than through bank acquisitions 3,370 35
Recognition of operating lease liabilities, other than through bank acquisitions 3,370 35
Supplemental disclosure of non-cash investing activities:    
Transfer of debt securities from available-for-sale to held-to-maturity 0 210,805
Unsettled purchases of debt securities available-for-sale 0 28,750
Transfers from bank premises to other real estate owned $ 1,008 $ 3,318