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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 $ 79,990 $ 17,512 $ 40,027
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for credit losses 20,469 (500)  
Provision for credit losses     3,000
Depreciation and amortization, premises and equipment 9,438 10,769 12,954
Amortization of premiums, discounts: AFS securities, deposits, debt 9,013 7,655 7,914
Operating leases: excess of payments over amortization (3,488) (2,597) 0
Amortization of finance leases 1,277 2,029 0
Amortization of core deposit intangibles 1,372 1,636 1,626
Amortization of deferred loan fees and costs 1,195 1,643 (1,984)
Share-based compensation expense 2,693 (163) 3,361
Net (gain) loss on sale of investment securities (341) 7 (235)
Loss on lease abandonment and exit costs 10,873 16,619 5,096
Deferred income tax expense (benefit) (10,065) (29,903) 12,777
Loss on debt extinguishment 1,492 0 0
Origination of LHFS (2,453,110) (3,757,549) (6,075,290)
Proceeds from sale of LHFS 2,407,287 4,097,511 6,448,808
Net fair value adjustment and gain on sale of LHFS (81,439) (78,994) (93,766)
Origination of mortgage servicing rights (31,012) (34,606) (61,871)
Net gain on sale of LHFI (6,895) (9,534) (1,956)
Change in fair value of mortgage servicing rights 37,567 35,902 (6,711)
Amortization of MSRs 5,657 5,214 4,383
Gain on sale of mortgage servicing rights 0 (6,206) 0
(Increase) decrease in other assets (38,728) 14,932 (8,064)
Increase (decrease) in accounts payable and other liabilities 11,210 (32,547) (4,058)
Net cash provided by (used in) operating activities (25,545) 258,830 286,011
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of investment securities (373,264) (330,532) (189,660)
Proceeds from sale of investment securities 62,378 184,871 46,081
Principal payments on investment securities 208,610 145,771 106,798
Proceeds from sale of OREO 650 1,138 836
Proceeds from sale of LHFI 576,388 769,354 548,770
Purchase of LHFI (20,124) 0  
Purchase of LHFI     (1,953)
Proceeds from sale of mortgage servicing rights 0 3,255 65,369
Net cash provided by disposal of discontinued operations 2,800 182,189 0
Net increase in LHFI (690,302) (822,474) (1,132,521)
Proceeds from sale of premises and equipment 1,460 0 808
Purchases of premises and equipment (3,298) (2,257) (9,724)
Net cash used for acquisitions 0 (47,389) 0
Proceeds from sale of Federal Home Loan Bank stock 145,801 161,254 179,789
Purchases of Federal Home Loan Bank stock (143,721) (138,156) (178,647)
Net cash provided by (used in) investing activities (232,622) 107,024 (564,054)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Increase in deposits, net 481,464 213,572 290,152
Repayment of long term borrowings (7,082) (56,000) (31,500)
Changes in short term borrowings, net (143,200) (424,000) 4,000
Repayment of finance lease principal (1,209) (1,694) 0
Repurchases of common stock (58,009) (98,543) 0
Proceeds from stock issuance, net 237 105 68
Dividends paid on common stock (13,865) 0 0
Net cash provided by (used in) financing activities 258,336 (366,560) 262,720
Net increase (decrease) in cash and cash equivalents 169 (706) (15,323)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:      
Cash, cash equivalents and restricted cash, beginning of year 57,880 58,586 73,909
Cash, cash equivalents and restricted cash, end of year 58,049 57,880 58,586
Less restricted cash included in other assets 0 0 604
CASH AND CASH EQUIVALENTS AT END OF YEAR 58,049 57,880 57,982
Cash paid (received) during the period for:      
Interest 44,466 93,325 67,552
Federal and state income taxes 20,992 33,625 (5,785)
Non-cash activities:      
LHFI foreclosed and transferred to OREO 370 915 455
Loans transferred from HFI to HFS 595,529 916,483 634,205
Loans transferred from HFS to HFI 25,995 8,705 71,584
Ginnie Mae loans recognized with the right to repurchase, net 92,366 0 0
Loans Derecognized With Right to Repurchase 0 28,281 1,674
Repurchase of common stock - award settlement 860 0 0
Receivable from sale of mortgage servicing rights 0 2,117 3,337
Acquisition:      
Assets acquired 0 116,402 0
Liabilities assumed 0 74,941 0
Goodwill $ 0 $ 5,928 $ 0