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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 37,171 $ 31,890
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 6,393 2,333
Provision for loan losses 21,628 2,888
Loss on sale/writedown of ORE 1,150 332
Securities gain (278) (131)
Acquisition gain (7,023) 0
Gain on sale/writedown of premises and equipment (461) (11)
Restricted stock expense 1,564 1,213
Increase in cash value of life insurance (1,139) (1,146)
Federal Home Loan Bank stock dividends (118) (130)
Residential loans originated and held for sale (232,191) (134,749)
Proceeds from sale of residential loans held for sale 220,665 128,558
Changes in:    
Interest receivable (8,663) (278)
Interest payable (188) 642
Other, net (2,326) (162)
Net cash from operating activities 36,184 31,249
Cash flows from investing activities:    
Maturities, calls and paydowns of available-for-sale and held-to-maturity securities 152,873 74,871
Proceeds from sales of securities available-for-sale 579 20,290
Purchases of available-for-sale securities (241,057) (107,557)
Redemptions (purchases) of other securities 351 (4,377)
Net increase in loans (161,535) (42,473)
Purchase of premises and equipment (6,034) (6,594)
Proceeds from sale of other real estate owned 3,024 2,694
Proceeds from the sale of land 1,416 0
Proceeds from the sale of premises and equipment 0 1,689
Proceeds from the sale of other assets 0 65
Net proceeds from (payments for) of bank-owned life insurance (5,682) 0
Cash received in excess of cash paid for acquisitions 29,245 14,743
Net cash provided by (used) in investing activities (226,820) (46,649)
Cash flows from financing activities:    
Increase/(decrease) in deposits 676,223 (8,628)
Net (decrease)/increase in borrowed funds (107,992) 33,500
Principal payments on finance lease liabilities (137) 0
Dividends paid on common stock (6,063) (3,712)
Cash paid to repurchase common stock 0 (4,877)
Issuance of subordinated debt, net 63,914 0
Repurchase of restricted stock for payment of taxes (437) 0
Net cash provided by financing activities 625,508 16,283
Net change in cash and cash equivalents 434,872 883
Beginning cash and cash equivalents 168,864 159,107
Ending cash and cash equivalents 603,736 159,990
Supplemental disclosures:    
Cash payments for interest 3,260 4,918
Non-cash activities:    
Loans transferred to other real estate 1,752 1,616
Issuance of restricted stock grants 78 75
Dividends on restricted stock grants 94 69
Lease liabilities arising from obtaining right-of-use assets 3,162 4,393
FPB acquisition    
Non-cash activities:    
Stock issued in connection with acquisition 0 78,220
SWG    
Non-cash activities:    
Stock issued in connection with acquisition $ 47,858 $ 0