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Consolidated Statements 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 $ 95,644 $ 81,477 $ 92,046
Reconciliation of net income to net cash provided by operating activities:      
Provision for credit losses 15,031 35,039 2,263
Deferred tax expense (benefit) (4,800) (10,007) 1,588
Net security premium amortization 14,058 5,019 2,653
Loan discount accretion (8,814) (6,328) (5,974)
Other purchase accounting accretion and amortization, net (47) 81 (9)
Foreclosed property losses and write-downs, net 24 547 939
Losses (gains) on securities available for sale 1,237 (8,024) (97)
Other (gains) losses (1,648) 54 169
Bank-owned life insurance income (2,885) (2,533) (2,564)
(Decrease) increase in net deferred loan fees (1,994) 5,639 (642)
Depreciation of premises and equipment 6,187 5,838 5,836
Amortization of operating lease right-of-use assets 1,937 2,012 1,857
Repayments of lease obligations (1,814) (1,844) (1,669)
Stock-based compensation expense 2,268 2,540 2,270
Amortization of intangible assets 3,531 3,956 4,858
Amortization of SBA servicing assets 2,272 1,795 1,340
Fees/gains from sales of presold mortgages and SBA loans (18,304) (22,156) (12,219)
Originations of presold mortgage loans in process of settlement (326,019) (418,394) (173,705)
Proceeds from sales of presold mortgage loans in process of settlement 359,300 410,898 162,476
Origination of SBA loans for sale (88,304) (147,934) (150,677)
Proceeds from sales of SBA loans 79,125 115,460 124,527
Increase in accrued interest receivable (773) (3,624) (644)
Decrease (increase) in other assets 13,978 (991) (3,171)
(Decrease) increase in accrued interest payable (683) (1,250) 178
(Decrease) increase in other liabilities 394 9,805 (391)
Net cash provided by operating activities 138,901 57,075 51,238
Cash Flows From Investing Activities      
Purchases of securities available for sale (1,572,355) (1,060,054) (498,891)
Purchases of securities held to maturity (271,169) (133,611) 0
Proceeds from maturities/issuer calls of securities available for sale 358,259 223,842 158,920
Proceeds from maturities/issuer calls of securities held to maturity 13,642 33,030 32,461
Proceeds from sales of securities available for sale 106,484 219,697 39,797
Redemptions of FRB and FHLB stock 2,043 9,851 4,088
Purchases of bank owned life insurance (25,000) 0 0
Net increase in loans (97,559) (233,788) (165,203)
Proceeds from sales of foreclosed properties 3,995 2,485 5,877
Purchases of premises and equipment (9,402) (12,363) (3,534)
Proceeds from sales of premises and equipment 313 189 1,799
Net cash received (paid) in acquisition activities 208,992 (9,559) 0
Net cash received in disposition activities 11,314 0 0
Net cash used by investing activities (1,270,443) (960,281) (424,686)
Cash Flows From Financing Activities      
Net increase in deposits 1,258,193 1,342,340 272,206
Net decrease in short-term borrowings 0 (198,000) (55,000)
Proceeds from long-term borrowings 0 150,000 0
Payments on long-term borrowings (5,729) (202,035) (51,119)
Cash dividends paid – common stock (22,228) (20,936) (13,662)
Repurchases of common stock (4,036) (31,868) (10,000)
Proceeds from stock option exercises 0 0 129
Payment of taxes related to stock withheld (786) (307) (702)
Net cash provided by financing activities 1,225,414 1,039,194 141,852
Increase (decrease) in Cash and Cash Equivalents 93,872 135,988 (231,596)
Cash and Cash Equivalents, Beginning of Year 367,290 231,302 462,898
Cash and Cash Equivalents, End of Year 461,162 367,290 231,302
Supplemental Disclosures of Cash Flow Information:      
Cash paid during the period for interest 10,206 20,812 33,725
Cash paid during the period for income taxes 32,506 29,604 24,336
Non-cash:  Foreclosed loans transferred to foreclosed real estate 2,285 1,583 3,249
Non-cash:  Unrealized (loss) gain on securities available for sale, net of taxes (41,400) 14,425 17,073
Non-cash:  Accrued dividends at period end 7,125 5,144 5,328
Non-cash: Initial recognition of operating lease right-of-use assets and liabilities 2,191 253 19,406
Non-cash: Derecognition of intangible assets related to sale of insurance operations $ (10,229) $ 0 $ 0