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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 32,244 $ 25,254
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 6,685 3,924
Provision for credit losses 0 14,708
Loss on sale or writedown of ORE 416 835
Securities gain (97) (246)
Acquisition gain 0 (7,023)
Gain on disposal of premises and equipment (12) (461)
Restricted stock expense 989 1,017
Increase in cash value of life insurance (950) (749)
Federal Home Loan Bank stock dividends (26) (101)
Residential loans originated and held for sale (134,389) (137,632)
Proceeds from sale of residential loans held for sale 149,821 130,024
Changes in:    
Interest receivable 2,318 (7,623)
Interest payable (307) (313)
Operating lease liability (784) (810)
Other, net 2,097 6,378
Net cash provided by operating activities 58,005 27,182
Cash flows from investing activities:    
Maturities, calls and paydowns of available-for-sale securities 109,261 97,688
Proceeds from sales of securities available-for-sale securities 0 579
Purchases of available-for-sale securities (379,796) (154,432)
Redemptions of other securities, net 5,276 1,735
Net decrease (increase) in loans 84,025 (176,865)
Net changes in premises and equipment (787) (3,972)
Proceeds from sale of other real estate owned 3,431 1,840
Proceeds from the sale of land 0 1,416
Purchase of bank-owned life insurance (12,244) (5,800)
Cash received in excess of cash paid for acquisition 0 29,245
Net cash used in investing activities (190,834) (208,566)
Cash flows from financing activities:    
Increase in deposits 458,753 663,948
Net decrease in borrowed funds (114,647) (107,814)
Principal payments on finance lease liabilities (94) (95)
Dividends paid on common stock (5,580) (3,957)
Cash paid to repurchase common stock (5,171) 0
Payment of subordinated debt issuance costs (59) 0
Repurchase of restricted stock for payment of taxes (441) (437)
Net cash provided by financing activities 332,761 551,645
Net change in cash and cash equivalents 199,932 370,261
Beginning cash and cash equivalents 562,554 168,864
Ending cash and cash equivalents 762,486 539,125
Supplemental disclosures:    
Loans transferred to other real estate 1,576 553
Issuance of restricted stock grants 88 65
Dividends on restricted stock grants 85 59
Lease liabilities arising from obtaining right-of-use assets 14 2,669
SWG    
Supplemental disclosures:    
Stock issued in connection with acquisition $ 0 $ 47,858