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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 38,670,000 $ 51,957,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 209,000 1,533,000
Depreciation and amortization 2,588,000 1,162,000
Amortization of intangible assets 776,000 893,000
Amortization of operating lease right-of-use assets 1,995,000 1,938,000
Provision for loan losses 26,223,000 1,044,000
Loans originated for sale (78,204,000) (40,074,000)
Proceeds from sales of loans held for sale 78,312,000 40,508,000
Gains on sales of securities (342,000) 0
Change in market value of equity securities 625,000 (525,000)
Gains on sales of loans held for sale (2,562,000) (1,285,000)
(Gains) losses on other real estate and other repossessed assets (76,000) 87,000
Losses on sales of premises and equipment 54,000 486,000
Long-term debt prepayment penalty 356,000 0
Stock-based compensation 2,046,000 1,822,000
Excess tax (deficiencies) benefits (128,000) 183,000
Increase in other assets (79,414,000) (20,386,000)
Increase in other liabilities 70,544,000 21,935,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 61,672,000 61,278,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash acquired in acquisitions 0 13,454,000
Proceeds from repayments and maturities of available for sale securities 633,574,000 102,133,000
Proceeds from repayments and maturities of held to maturity securities 26,816,000 22,330,000
Proceeds from sales of equity securities 3,000,000 1,153,000
Proceeds from sales of available for sale securities 94,696,000 0
Purchase of available for sale securities (746,035,000) (149,182,000)
Purchase of held to maturity securities (1,160,000) (18,897,000)
Purchase of equity securities (1,228,000) (259,000)
Death benefit proceeds from bank owned life insurance policy 0 121,000
Proceeds from redemptions of Federal Home Loan Bank stock 97,127,000 79,217,000
Purchases of Federal Home Loan Bank stock (88,857,000) (82,155,000)
Net increase in loans (702,010,000) (38,308,000)
Proceeds from sales of other real estate and repossessed assets 1,032,000 399,000
Proceeds from dispositions and sales of premises and equipment 49,000 1,827,000
Purchases of premises and equipment (5,155,000) (4,166,000)
NET CASH USED IN INVESTING ACTIVITIES (688,151,000) (72,333,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 972,917,000 180,990,000
Decrease in federal funds purchased and securities sold under agreements to repurchase (230,784,000) (34,579,000)
Proceeds from other borrowings 25,000,000 46,260,000
Repayments of other borrowings (56,060,000) (89,353,000)
Purchase of treasury stock (1,452,000) 0
Exercise of stock options 0 307,000
Retirement of restricted stock (492,000) (654,000)
Dividends paid (19,093,000) (18,557,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 690,036,000 84,414,000
Net increase in cash and cash equivalents 63,557,000 73,359,000
Cash and cash equivalents, beginning of period 282,371,000 208,599,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 345,928,000 281,958,000
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 17,386,000 10,847,000
Cash paid during the period for interest 35,472,000 46,532,000
Transfer of loans into other repossessed assets and other real estate owned 393,000 599,000
Initial recognition of operating lease right-of-use assets 0 18,651,000
Initial recognition of operating lease liabilities 0 20,203,000
Right-of-use asset obtained in exchange for new operating lease liabilities 741,000 765,000
Non-cash assets acquired:    
Federal Home Loan Bank stock 0 1,767,000
Investment securities 0 22,734,000
Loans, including loans held for sale 0 426,118,000
Goodwill and other intangible assets, net 0 23,125,000
Other assets 0 9,304,000
Total non-cash assets acquired 0 483,048,000
Deposits 0 409,638,000
Other borrowings 0 40,957,000
Other liabilities 0 2,490,000
Total liabilities assumed 0 453,085,000
Common stock issued $ 0 $ 43,417,000