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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income $ 53,984 $ 44,564
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses 1,741 14,863
Net security premium amortization 4,448 4,731
Deferred income taxes (1,358) (2,324)
Loan discount accretion (5,645) (7,151)
Deposit and debt discount accretion, net 886 2,317
Foreclosed property gains, net (153) (35)
Securities losses, net 1,161 0
Other gains, net (555) (561)
Bank-owned life insurance income (2,343) (2,112)
Net amortization of deferred loan costs/(fees) (886) (590)
Depreciation of premises and equipment 4,029 3,778
Amortization of operating lease right-of-use assets 990 1,090
Repayments of lease obligations (949) (1,014)
Stock-based compensation expense 2,093 2,245
Amortization of intangible assets 3,428 4,194
Amortization and impairment of SBA servicing assets 890 494
Gains on sale of loans (3,157) (1,914)
Origination of presold mortgage loans in process of settlement and SBA loans held for sale (76,938) (64,117)
Proceeds from sales of presold mortgage loans in process of settlement and SBA loans 82,784 57,369
Increase in accrued interest receivable 1,746 2,001
Decrease in other assets 952 4,048
Increase in accrued interest payable 29 1,725
Decrease in other liabilities 453 1,553
Net cash provided by operating activities 67,630 65,154
Cash Flows From Investing Activities    
Proceeds from maturities, calls and principal repayments of securities available for sale 167,698 96,686
Proceeds from maturities, calls and principal repayments of securities held to maturity 6,867 1,587
Proceeds from sales of securities available for sale 138,182 111,862
Proceeds from sale of VISA B shares 4,522 0
Purchases of Federal Reserve and FHLB stock (15,804) (51,177)
Redemptions of Federal Reserve and FHLB stock 28,880 35,892
Proceeds from bank owned life insurance death benefits 209 137
Purchases of other investments (1,465) 0
Net decrease (increase) in loans 75,748 (226,193)
Proceeds from sales of foreclosed properties 217 192
Purchases of premises and equipment (1,721) (1,854)
Proceeds from sales of premises and equipment 10 45
Net cash received in acquisition activities 0 22,610
Net cash provided by (used in) investing activities 403,343 (10,213)
Cash Flows From Financing Activities    
Net increase (decrease) in deposits 455,723 (106,165)
Proceeds from the issuance of other borrowings 481,000 1,224,500
Repayment of other borrowings (1,010,024) (1,069,569)
Repayment of subordinated debentures (10,000) 0
Cash dividends paid – common stock (18,094) (16,867)
Proceeds from stock option exercises 1,105 3,703
Payment of taxes related to stock withheld (126) (186)
Net cash (used) provided by financing activities (100,416) 35,416
Increase in cash and cash equivalents 370,557 90,357
Cash and cash equivalents, beginning of period 237,855 270,318
Cash and cash equivalents, end of period 608,412 360,675
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 94,342 54,694
Cash paid during the period for income taxes 14,382 12,917
Non-cash: Unrealized (loss) gain on securities available for sale, net of taxes (7,200) 3,765
Non-cash: Foreclosed loans transferred to other real estate 0 576
Non-cash: Accrued dividends at end of period 9,061 9,038
Cancellation Of Operating Lease Right-Of-Use Assets And Operating Lease Liabilities, Non Cash $ (1,497) $ 0