XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 31,497 $ 23,268  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,155 6,802  
Provision for loan losses 1,635 4,263  
Net amortization of premium on securities 5,692 5,823  
Securities gains, net (1,575) (1,441)  
Unrealized (gain)/loss on equity securities, net (258) 28  
Stock based compensation 2,375 1,858  
Loans originated for sale (61,348) (112,433)  
Proceeds on sales of loans held for sale 64,941 135,506  
Net gains on sale of loans held for sale (2,978) (2,889)  
Decrease in accrued interest receivable 682 3,239  
(Increase) decrease in prepaid expenses (1,708) 194  
Increase in accrued interest payable 1,261 1,029  
Capitalization of servicing rights (266) (1,183)  
Valuation allowance on servicing rights 589 2  
(Gain)/loss on sales/valuations of assets, net 1,512 (197)  
Net excess tax benefit from stock based compensation 336 611  
Other, net (16,493) (5,441)  
NET CASH PROVIDED BY OPERATING ACTIVITIES 34,049 59,039  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of time deposits in other financial institutions (248) 0  
Proceeds from the sale of securities available for sale 434,154 392,246  
Proceeds from the redemption of time deposits in other financial institutions 0 8,767  
Proceeds from the maturity of and principal paydowns on securities available for sale 86,727 49,603  
Proceeds from the maturity of and principal paydowns on securities held to maturity 2,156 3,570  
Proceeds from the maturity of and principal paydowns on time deposits in other financial institutions 245 4,368  
Proceeds from the sale, maturity of and principal paydowns on other investments 2,730 677  
Purchase of securities available for sale (299,105) (244,289)  
Purchase of other investments (1,779) (644)  
Net (increase) decrease in loans 43,925 (32,314)  
Purchase of bank owned life insurance policies (5) 0  
Capital expenditures (1,123) (2,356)  
Net cash and cash equivalents received in acquisitions 0 5,543  
Proceeds from the sale of equipment 117 615  
Net cash received in divestitures 28,142 0  
Proceeds on sale of OREO and other repossessed assets 2,537 668  
NET CASH PROVIDED BY INVESTING ACTIVITIES 298,473 186,454  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase/(decrease) in demand deposits (131,876) 5,834  
Net increase in savings deposits 74,016 100,608  
Net (increase) decrease in time deposit accounts 75,141 (69,143)  
Proceeds on short-term revolving credit line 0 15,000  
Net decrease in short-term borrowings (43,000) (168,451)  
Proceeds from short term FHLB advances 430,888 220,000  
Repayments of short term FHLB advances (506,725) (260,000)  
Proceeds from other borrowings 50 0  
Repayments of other borrowings (6,868) (14,995)  
Purchase of treasury stock 0 (97)  
Proceeds from issuance of common stock 253 14  
Dividends paid (5,530) (3,920)  
NET CASH USED BY FINANCING ACTIVITIES (113,651) (175,150)  
Net increase in cash and cash equivalents 218,871 70,343  
Cash and cash equivalents at beginning of year 273,630 196,003 $ 196,003
CASH AND CASH EQUIVALENTS AT END OF PERIOD 492,501 266,346 $ 273,630
Supplemental disclosures:      
Cash paid for income/franchise taxes 84 2  
Cash paid for interest 16,537 8,601  
Loans transferred to OREO 1,694 939  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale 654 0  
Deposits transferred to held for sale 76,968 0  
Loans transferred to held for sale 32,111 0  
Securities transferred from held to maturity to available for sale 148,030 0  
Purchases of securities available for sale, accrued, not settled 2,019 0  
Maturity of securities available for sale, accrued, not settled 1,000 0  
Stock consideration granted for acquisitions $ 0 $ 53,621