XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 58,820 $ 26,043
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses (4,000) 20,469
Depreciation and amortization, premises and equipment 4,788 4,299
Amortization of premiums and discounts: AFS securities, deposits, debt 3,204 5,011
Operating leases: excess of payments over amortization (2,016) (1,813)
Amortization of finance leases 546 709
Amortization of core deposit intangibles 587 689
Amortization of deferred loan fees and costs (4,825) 1,536
Share-based compensation expense 1,665 1,184
Lease impairment costs 180 2,617
Deferred income tax expense (benefit) 5,353 (8,188)
Origination of LHFS (1,336,342) (983,212)
Proceeds from sale of LHFS 1,380,651 820,312
Net fair value adjustment and gain on sale of LHFS (25,441) (32,701)
Origination of MSRs (20,472) (9,978)
Net gain on sale of LHFI (4,613) (1,864)
Change in fair value of mortgage servicing rights 4,434 26,678
Amortization of MSRs 3,477 2,734
(Increase) decrease in other assets (6,414) (20,022)
Increase (decrease) in accounts payable and other liabilities (4,407) 183
Net cash provided by (used in) operating activities 55,175 (145,314)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (86,333) (335,037)
Proceeds from sale of investment securities 28,187 55,615
Principal payments on investment securities 114,367 77,845
Proceeds from sale of OREO 0 650
Proceeds from sale of LHFI 251,474 244,723
Net cash provided by disposal of discontinued operations 0 2,758
Net increase in LHFI (272,051) (423,497)
Purchase of premises and equipment (827) (1,145)
Proceeds from sale of Federal Home Loan Bank stock 86,321 97,646
Purchases of Federal Home Loan Bank stock (76,726) (90,913)
Net cash provided by (used in) investing activities 44,412 (371,355)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase (decrease) in deposits, net 264,898 316,301
Changes in short-term borrowings, net (322,800) 242,000
Proceeds from other long-term borrowings 50,000 0
Repayment of finance lease principal (613) (724)
Repurchases of common stock (50,001) (26,001)
Proceeds from exercise of stock options 263 237
Dividends paid on common stock (10,912) (7,106)
Net cash provided by (used in) financing activities (69,165) 524,707
Net increase in cash and cash equivalents 30,422 8,038
Cash and cash equivalents, beginning of year 58,049 57,880
Cash and cash equivalents, end of period 88,471 65,918
Cash paid during the period for:    
Interest 9,517 29,532
Federal and state income taxes 23,367 516
Non-cash activities:    
Increase in lease assets and lease liabilities 467 0
Decrease in lease assets and lease liabilities 0 38,754
Loans transferred from LHFI to LHFS 146,270 120,691
Loans transferred from LHFS to LHFI 17,446 4,340
Ginnie Mae loans recognized with the right to repurchase, net 0 12,341
Ginnie Mae loans derecognized with the right to repurchase, net 44,680 0
Repurchase of common stock-award settlement $ 3,124 $ 425