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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 22,537 $ 55,784 $ 39,421
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 44,361 16,985 9,430
Depreciation on premises and equipment 6,942 6,583 6,166
Amortization of intangible assets 6,504 7,090 6,956
Amortization of operating lease right-of-use asset 2,547 2,937 0
Amortization of loan servicing rights 3,518 2,820 2,949
Share-based compensation expense 2,175 2,364 1,533
Increase in cash surrender value of life insurance (3,581) (3,640) (3,579)
Investment securities amortization, net 3,411 3,757 3,898
Gain on sales of investment securities, net (1,721) (674) (464)
Gain on sales of other real estate owned (78) (185) (544)
Impairment on other real estate owned 1,390 16 301
Origination of loans held for sale (786,203) (504,973) (557,305)
Proceeds from sales of loans held for sale 1,218,950 949,745 590,282
Gain on loans sold and held for sale (14,071) (15,082) (11,165)
Impairment (recapture) on commercial mortgage servicing rights 12,337 2,139 (449)
Loss (gain) on mortgage servicing rights held for sale 1,692 (490) 458
Impairment related to facilities optimization 12,847 3,577 0
Gain on proceeds from bank-owned life insurance 0 0 (709)
Net change in operating assets and liabilities:      
Accrued interest receivable (7,199) 1,399 (431)
Other assets (31,961) (4,701) (5,745)
Accrued expenses and other liabilities 4,750 13,202 16,090
Net cash provided by operating activities 499,147 538,653 97,093
Cash flows from investing activities:      
Purchases of investment securities available for sale (266,514) (200,231) (76,289)
Proceeds from sales of investment securities available for sale 28,256 33,464 20,178
Maturities and payments on investment securities available for sale 214,036 239,760 131,220
Purchases of equity securities (3,345) (82) (59)
Proceeds from sales of equity securities 0 105 7,733
Net increase in loans (1,279,913) (505,501) (131,114)
Proceeds from sale of commercial FHA origination platform 7,502 0 0
Purchases of premises and equipment (2,589) (5,538) (7,200)
Purchases of nonmarketable equity securities (12,091) (14,263) (20,737)
Proceeds from sales of nonmarketable equity securities 0 12,684 15,099
Proceeds from sales of mortgage servicing rights held for sale 0 3,288 12,994
Proceeds from sales of other real estate owned 2,225 1,647 3,879
Proceeds from settlements of bank-owned life insurance 0 0 1,449
Net cash acquired in acquisitions 0 69,879 36,153
Net cash used in investing activities (1,312,433) (364,788) (6,694)
Cash flows from financing activities:      
Net increase (decrease) in deposits 556,762 148,344 (168,049)
Net decrease in short-term borrowings (13,072) (42,206) (31,891)
Proceeds from FHLB borrowings 729,000 360,000 1,017,080
Payments made on FHLB borrowings and other borrowings (447,832) (515,047) (891,012)
FHLB advances prepayment fees 4,872 0 0
Proceeds from issuance of subordinated debt, net of issuance costs 0 98,265 0
Payments made on subordinated debt (7,443) (19,543) 0
Subordinated debt prepayment fees 193 1,778 0
Cash dividends paid on preferred stock 0 (191) (330)
Redemption of preferred stock (10) (2,636) 0
Cash dividends paid on common stock (24,958) (23,599) (19,977)
Common stock repurchased (39,615) (4,019) 0
Proceeds from issuance of common stock under employee benefit plans 2,524 5,794 2,278
Net cash provided by (used in) financing activities 760,421 6,940 (91,901)
Net (decrease) increase in cash and cash equivalents (52,865) 180,805 (1,502)
Cash and cash equivalents:      
Beginning of period 394,505 213,700 215,202
End of period $ 341,640 $ 394,505 $ 213,700