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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income attributable to the Company $ 10,652 $ 800
Adjustments to arrive at net income:    
Net income attributable to noncontrolling interests 0 (6)
Net income before attribution to noncontrolling interests 10,652 806
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:    
Depreciation and amortization 4,692 6,345
Net income attributable to noncontrolling interests 0 6
Stock compensation, net of cancellations 1,559 1,421
Provision/(credit) for loan losses (7,004) 16,962
Loans originated for sale (38,308) (15,324)
Proceeds from sale of Loans held for sale 48,060 15,127
Deferred Income tax expense/(benefit) 2,575 (5,731)
Decrease in Right-of-use assets 4,635 3,179
Decrease in operating Lease liabilities (5,196) (3,640)
Increase in Merger cost liabilities 8,665 0
Net (increase) in other operating activities (8,612) (27,617)
Net cash provided by/(used in) operating activities 21,718 (8,478)
Investment securities available-for-sale:    
Purchases (160,756) (8,874)
Maturities, calls, redemptions, and principal payments 37,278 12,472
Investment securities held-to-maturity:    
Principal payments 3,182 2,730
Equity securities at fair value:    
Purchases (8,256) (19,713)
Sales 10,000 15,443
(Investments)/distributions in trusts, net (429) 569
Contingent considerations from divestitures 1,258 1,277
(Purchase)/redemption of Federal Home Loan Bank and Federal Reserve Bank stock 12 (6,195)
Net increase in portfolio loans (110,006) (67,890)
Proceeds from recoveries of loans previously charged-off 73 180
Capital expenditures (1,268) (1,975)
Net cash provided (used in) investing activities (228,912) (71,976)
Cash flows from financing activities:    
Net increase/(decrease) in deposits 552,252 (405,904)
Net (decrease) in securities sold under agreements to repurchase (7,210) (8,079)
Net increase in federal funds purchased 0 145,000
Net increase in short-term Federal Home Loan Bank borrowings 0 115,000
Advances of long-term Federal Home Loan Bank borrowings 100,424 175,000
Repayments of long-term Federal Home Loan Bank borrowings (100,064) (149,575)
Dividends paid to common shareholders (4,946) (10,000)
Repurchase of common stock 0 (12,807)
Proceeds from stock option exercises 261 55
Proceeds from issuance of common stock 695 920
Tax withholding for share based compensation awards (13) (11)
Distributions paid to noncontrolling interests 0 (6)
Other equity adjustments 150 96
Net cash provided by/(used in) financing activities 541,549 (150,311)
Net increase/(decrease) in cash and cash equivalents 334,355 (230,765)
Cash and cash equivalents at beginning of year 1,055,588 292,479
Cash and cash equivalents at end of period 1,389,943 61,714
Supplemental disclosure of cash flow items:    
Cash paid for interest 5,399 15,628
Cash paid for income taxes, (net of refunds received) 1,600 872
Change in unrealized gain/(loss) on Investment securities available-for-sale, net of tax (17,993) 14,489
Change in unrealized gain/(loss) on cash flow hedges, net of tax 50 0
Non-cash transactions:    
Loans charged-off $ (297) $ (528)