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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES:    
Net income $ 42,501 $ 47,523
Adjustments to reconcile net income to net cash provided by operating activities:    
Net (accretion) amortization on investment securities 732 (21)
Net accretion on loans and amortization of core deposit intangible and operating lease components (2,383) (1,833)
Unrealized (gains) losses on equity securities with readily determinable fair value 173 (448)
Depreciation of premises and equipment 5,041 4,572
Amortization of mortgage servicing rights 1,593 733
Impairment of mortgage servicing rights 100  
Provision for on-balance sheet exposures 29,294 21,691
Provision for off-balance sheet exposures 180  
Net gain on sale of mortgage loans held for sale (13,504) (3,478)
Origination of mortgage loans held for sale (343,941) (122,696)
Proceeds from sale of mortgage loans held for sale 336,641 121,262
Net gain on sale of consumer loans held for sale (3,006) (2,618)
Origination of consumer loans held for sale (282,612) (346,413)
Proceeds from sale of consumer loans held for sale 284,898 324,260
Net gain realized on sale of other real estate owned (4) (220)
Impairment of premises held for sale   132
Deferred compensation expense - Class A Common Stock 427 332
Stock-based awards expense - Class A Common Stock 250 618
Net gain on sale of bank premises and equipment (353)  
Increase in cash surrender value of bank owned life insurance (784) (759)
Net change in other assets and liabilities:    
Accrued interest receivable 1,765 (774)
Accrued interest payable (1,685) 491
Other assets (4,465) 581
Other liabilities (9,486) (7,775)
Net cash provided by operating activities 41,372 35,160
INVESTING ACTIVITIES:    
Purchases of available-for-sale debt securities (138,894)  
Proceeds from calls, maturities and paydowns of available-for-sale debt securities 131,323 101,051
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities 6,628 1,315
Net change in outstanding warehouse lines of credit (312,321) (269,099)
Net change in other loans (342,083) (137,490)
Proceeds from redemption of Federal Home Loan Bank stock 14,202 2,102
Purchase of Federal Home Loan Bank stock (9,000) (2,277)
Proceeds from sales of other real estate owned 32 580
Proceeds from sale of bank premises and equipment 894  
Net purchases of premises and equipment (2,139) (4,083)
Net cash used in investing activities (651,358) (307,901)
FINANCING ACTIVITIES:    
Net change in deposits 1,232,077 257,729
Net change in securities sold under agreements to repurchase and other short-term borrowings 9,780 43,012
Net change in Federal Reserve Payment Protection Plan Lending Facility borrowings 169,209  
Payments of Federal Home Loan Bank advances (1,037,500) (565,000)
Proceeds from Federal Home Loan Bank advances 425,000 670,000
Repurchase of Class A Common Stock (2,852) (379)
Net proceeds from Class A Common Stock purchased through employee stock purchase plan 291 235
Net proceeds from Class A Common Stock options exercised and PSUs awarded 256 (102)
Cash dividends paid (11,383) (10,449)
Net cash provided by financing activities 784,878 395,046
NET CHANGE IN CASH AND CASH EQUIVALENTS 174,892 122,305
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 385,303 351,474
CASH AND CASH EQUIVALENTS AT END OF PERIOD 560,195 473,779
Cash paid during the period for:    
Interest 14,992 21,561
Income taxes 10,008 6,726
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers from loans to real estate acquired in settlement of loans 2,109 1,295
Transfers from loans held for investment to held for sale   124,202
Unfunded commitments in low-income-housing investments 10,000  
Right-of-use assets recorded 2,151 $ 40,202
Allowance for credit losses recorded upon adoption of ASC 326 $ 7,241