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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 61,605 $ 30,131 $ 114,419 $ 50,171  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     13,671 14,071  
Provision (benefit) for credit losses     (7,728) 48,316  
Net amortization of premium on securities     18,439 6,251  
Securities gains, net (2,842) (2,006) (2,812) (3,664)  
Unrealized (gain) loss on equity securities, net     27 (449)  
Stock based compensation     4,776 3,558  
Loans originated for sale     (244,752) (271,167)  
Proceeds on sales of loans held for sale     279,923 254,523  
Net gains on sale of loans held for sale     (10,470) (10,990)  
(Increase) decrease in accrued interest receivable     813 (4,298)  
Increase in prepaid expenses     (1,324) (910)  
Decrease in accrued interest payable     (1,342) (1,699)  
Capitalization of servicing rights     (703) (1,527)  
Valuation adjustment on servicing rights 526 (9) (391) 1,556  
Loss on sales/valuations of assets, net     377 717  
Net excess tax benefit (expense) from stock based compensation     303 (91)  
Other, net     (9,645) (53,313)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     153,581 31,055  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     (9) (7)  
Proceeds from the sale of securities available for sale 423,415 182,749 630,481 511,639  
Proceeds from the maturity of and principal paydowns on securities available for sale     484,958 212,538  
Proceeds from the maturity of and principal paydowns on securities held to maturity     4,127 1,832  
Proceeds from the maturity of time deposits in other financial institutions     0 150  
Proceeds from the sale, maturity of and principal paydowns on other investments     2,498 6,135  
Purchase of securities available for sale     (1,571,281) (1,491,459)  
Purchase of other investments     (4,054) (10,273)  
Net (increase) decrease in loans     5,203    
Net (increase) decrease in loans       (881,419)  
Purchase of bank owned life insurance policies     (190) (201)  
Capital expenditures     (11,539) (7,679)  
Proceeds from the sale of equipment     3,090 3,331  
Proceeds on sale of OREO and other repossessed assets     1,858 1,783  
NET CASH USED BY INVESTING ACTIVITIES     (454,858) (1,653,630)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase in demand deposits     610,479 1,287,288  
Net increase in savings deposits     169,519 502,871  
Net decrease in time deposit accounts     (144,785) (125,791)  
Net decrease in short-term borrowings     (15,309) (12,799)  
Proceeds from short term advances     1,700 516,545  
Repayments of short term advances     (1,700) (597,741)  
Proceeds from other borrowings     0 33,750  
Repayments of other borrowings     (186,356) (3,622)  
Net proceeds from the issuance of preferred stock     0 110,705  
Proceeds from issuance of common stock     1,519 928  
Dividends paid     (22,565) (14,715)  
NET CASH PROVIDED BY FINANCING ACTIVITIES     412,502 1,697,419  
Net increase in cash and cash equivalents     111,225 74,844  
Cash and cash equivalents at beginning of year     337,903 378,734 $ 378,734
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 449,128 $ 453,578 449,128 453,578 $ 337,903
Supplemental disclosures:          
Cash paid for income/franchise taxes     31,735 12,798  
Cash paid for interest     16,053 29,856  
Loans transferred to OREO     1,186 1,055  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     1,564 0  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net     6 0  
Dividends declared, not paid     2,013 0  
Transfer of available for sale securities to held to maturity securities     $ 0 $ 462