XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 21,042 $ 50,209
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 49,515 6,286
Depreciation of premises and equipment 3,620 3,983
Net amortization of investment securities premiums and discounts 1,755 1,375
Net gain on sales of investment securities (817) (41)
Net gain on mortgage banking activities (12,119) (2,908)
Bank owned life insurance income (2,207) (2,438)
Stock-based compensation 1,853 1,918
Intangible expenses 934 1,221
Other adjustments to reconcile net income to cash used in operating activities (3,392) (911)
Originations of loans held for sale (322,135) (139,744)
Proceeds from the sale of loans held for sale 321,233 140,906
Contributions to pension and other postretirement benefit plans (203) (199)
Increase in accrued interest receivable and other assets (18,774) (3,259)
Increase (decrease) in accrued interest payable and other liabilities 5,786 (2,486)
Net cash provided by operating activities 46,091 53,912
Cash flows from investing activities:    
Net capital expenditures (2,363) (1,647)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 56,933 20,903
Proceeds from maturities, calls and principal repayments of securities available-for-sale 43,853 49,127
Proceeds from sales of securities available-for-sale 65,621 24,987
Purchases of investment securities held-to-maturity (43,116) (62,919)
Purchases of investment securities available-for-sale (49,329) (997)
Proceeds from sales of money market mutual funds 10,487 1,032
Purchases of money market mutual funds (10,971) (1,314)
Net decrease in other investments (1,469) (917)
Proceeds from sale of portfolio loans 14,416 0
Net increase in loans and leases (851,403) (246,453)
Proceeds from sales of other real estate owned 75 670
Net cash used in investing activities (767,266) (217,528)
Cash flows from financing activities:    
Net increase in deposits 851,521 452,101
Net decrease in short-term borrowings (999) (170,798)
Proceeds from issuance of long-term debt 125,000 25,000
Repayment of long-term debt (70,000) (10,000)
Proceeds from issuance of subordinated notes 98,448 0
Payment of contingent consideration on acquisitions (91) (97)
Purchases of treasury stock (4,452) (1,776)
Stock issued under dividend reinvestment and employee stock purchase plans 1,757 1,669
Proceeds from exercise of stock options 94 1,005
Cash dividends paid (17,555) (17,574)
Net cash provided by financing activities 983,723 279,530
Net increase in cash and cash equivalents 262,548 115,914
Cash and cash equivalents at beginning of year 125,128 109,420
Cash and cash equivalents at end of period 387,676 225,334
Supplemental disclosures of cash flow information:    
Cash paid for interest 23,089 33,724
Cash paid for income taxes, net of refunds 12,014 14,148
Transfer of loans to other real estate owned 8,125 0
Transfer of Portfolio Loans and Leases to Held-for-sale $ 14,416 $ 0