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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income/(loss) from continuing operations $ 13,031 $ (12,072)
Net (loss) from discontinued operations 0 (7,798)
Net income/(loss) 13,031 (19,870)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Provision for credit losses 6,500 34,807
Net amortization of securities 389 762
Change in unamortized net loan costs and premiums (2,755) 386
Premises and equipment depreciation and amortization expense 2,839 2,680
Stock-based compensation expense 675 1,459
Accretion of purchase accounting entries, net (1,305) (3,121)
Amortization of other intangibles 1,319 1,580
Income from cash surrender value of bank-owned life insurance policies (1,348) (1,106)
Securities losses, net 31 9,730
Net change in loans held-for-sale 3,938 4,472
Loss on disposition of assets 2,811 0
Amortization of interest in tax-advantaged projects 33 486
Net change in other (2,584) (11,571)
Net cash provided by operating activities of continuing operations 23,574 28,492
Net cash provided (used) by operating activities of discontinued operations 0 6,560
Net cash provided by operating activities 23,574 35,052
Cash flows from investing activities:    
Net decrease in trading security 192 181
Purchases of marketable equity securities 0 (11,437)
Proceeds from sales of marketable equity securities 2,849 12,329
Purchases of securities available for sale (103,877) (160,925)
Proceeds from sales of securities available for sale 0 3,520
Proceeds from maturities, calls, and prepayments of securities available for sale 166,998 90,758
Purchases of securities held to maturity (155,417) 0
Proceeds from maturities, calls, and prepayments of securities held to maturity 9,377 20,372
Net change in loans 412,255 217,429
Net change in Mid-Atlantic region loans held for sale 16,830 0
Proceeds from surrender of bank-owned life insurance 0 553
Purchase of Federal Home Loan Bank stock 0 (6,741)
Proceeds from redemption of Federal Home Loan Bank stock 6,193 454
Net investment in limited partnership tax credits 0 (2,783)
Purchase of premises and equipment, net (2,297) (3,386)
Net cash provided by investing activities 353,103 160,324
Cash flows from financing activities:    
Net increase/(decrease) in deposits 28,562 (262,203)
Net increase in Mid-Atlantic region deposits held for sale 29,245 0
Proceeds from Federal Home Loan Bank advances and other borrowings 0 315,854
Repayments of Federal Home Loan Bank advances and other borrowings (123,022) (102,382)
Purchase of treasury stock 0 (473)
Exercise of stock options 69 519
Common and preferred stock cash dividends paid (6,124) (12,175)
Settlement of derivative contracts with financial institution counterparties 36,326 (108,925)
Net cash used by financing activities (34,944) (169,785)
Net change in cash and cash equivalents 341,733 25,591
Cash and cash equivalents at beginning of period 1,557,875 579,829
Cash and cash equivalents at end of period 1,899,608 605,420
Supplemental cash flow information:    
Interest paid on deposits 10,149 26,830
Interest paid on borrowed funds 3,655 6,033
Income taxes (refunded) paid, net (2,386) 178
Other non-cash changes:    
Other net comprehensive income (20,150) 19,024
Unsettled transactions related to security purchases 22,126 0
Reclass of seasoned loan portfolios to held-for-sale, net 9,500 27,940
Real estate owned acquired in settlement of loans 0 224
Retained earnings (deficit)    
Cash flows from operating activities:    
Net income/(loss) 13,031 (19,870)
Retained earnings (deficit) | Cumulative Effect, Period of Adoption, Adjustment    
Other non-cash changes:    
Impact to retained earnings from adoption of ASC 326, net of tax $ 0 $ 24,380