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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net Income $ 52,523 $ 41,208
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Originations of mortgage loans held for sale (359,842) (475,131)
Proceeds from the sale of mortgage loans 400,812 460,130
Gain on sale of mortgage loans, net of origination costs (11,260) (10,385)
Provision (credit) for credit losses (4,420) 12,160
Depreciation and amortization expense 2,779 2,850
Investment securities amortization and accretion, net 5,238 3,115
Stock-based compensation expense 2,007 1,373
Amortization of core deposit intangible assets 491 511
Purchase accounting accretion, net (589) (924)
Net decrease (increase) in derivative collateral posted 25,090 (30,250)
Decrease (increase) in other assets 2,827 (10,088)
Decrease in other liabilities (3,994) (501)
Net cash provided by (used in) by operating activities 111,662 (5,932)
Investing Activities    
Proceeds from available-for-sale debt securities 248,186 181,489
Payments to Acquire Debt Securities, Available-for-sale 618,744 341,100
Net increase in loans (95,720) (180,174)
Purchase of Federal Home Loan Bank stock (68) (9,231)
Proceeds from sale of Federal Home Loan Bank stock 1,329 9,535
Purchase of premises and equipment 1,549 2,591
Recoveries of previously charged-off loans 272 352
Proceeds from the sale of other real estate owned 465 110
Net cash used in investing activities (465,829) (341,610)
Financing Activities    
Net increase in deposits 599,936 686,314
Net proceeds from (repayments of) borrowings less than 90 days 49,113 (58,754)
Proceeds from Federal Home Loan Bank long-term advances 0 25,000
Repayments of Federal Home Loan Bank long-term advances 25,000 10,000
Repayment of subordinated debt (15,000) 0
Common stock repurchases (4,924) (9,140)
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings (241) (113)
Cash dividends paid on common stock 15,721 14,907
Finance lease payments (114) (105)
Net cash provided by financing activities 588,049 618,295
Net increase in cash, cash equivalents and restricted cash 233,882 270,753
Cash, cash equivalents, and restricted cash at beginning of period 145,774 75,636
Cash, cash equivalents and restricted cash at end of period 379,656 346,389
Supplemental information    
Interest paid 8,523 17,778
Income taxes paid 14,277 10,689
Transfer from premises to other real estate owned 204 24
Unsettled common stock repurchase $ 0 $ 235