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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Net income $ 34,944 $ 45,613
Payments for (Proceeds from) Equipment Owned under Operating Leases 14,932 (5,109)
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 21,728 9,165
Depreciation of premises and equipment 2,847 2,957
Stock-based compensation 1,519 1,341
Amortization of investment securities premiums and accretion of discounts, net 2,356 1,737
Amortization of mortgage servicing rights 1,103 527
Mortgage servicing rights impairments 546 0
Amortization of right of use assets 1,410 1,581
Deferred income taxes (7,786) (1,677)
Gains on investment securities available-for-sale (279) 0
Originations of loans held for sale, net of principal collected (154,212) (52,505)
Proceeds from the sales of loans held for sale 142,680 45,610
Net gain on sale of loans held for sale (4,699) (993)
Net gain on sale of other real estate and repossessions (9) (470)
Net gain on sale of premises and equipment 0 (1,289)
Change in interest receivable (1,851) (2,234)
Change in interest payable (4,491) 3,953
Change in other assets 2,055 (8,474)
Change in other liabilities (4,828) 9,938
Other 755 1,106
Net change in operating activities 44,357 68,810
Investing activities:    
Proceeds from sales of investment securities available-for-sale 8,403 0
Proceeds from maturities and paydowns of investment securities available-for-sale 198,105 59,683
Purchases of investment securities available-for-sale (204,415) (76,137)
Net change in partnership investments (30,356) (12,825)
Net change in other investments (2,205) 0
Loans sold or participated to others 8,004 16,740
Proceeds from principal payments on direct finance leases 25,238 27,446
Proceeds from PPP lender origination fees 18,913 0
Net change in loans and leases (662,772) (332,743)
Net change in equipment owned under operating leases 14,932 (5,109)
Purchases of premises and equipment (2,126) (4,526)
Proceeds from disposal of premises and equipment 12 3,427
Proceeds from sales of other real estate and repossessions 4,547 5,964
Net Cash Provided by (Used in) Investing Activities (623,720) (318,080)
Financing activities:    
Net change in demand deposits and savings accounts 784,580 59,626
Net change in time deposits (148,450) (221,897)
Net change in short-term borrowings 31,126 (13,335)
Proceeds from issuance of long-term debt 10,000 0
Payments on long-term debt (2,343) (2,052)
Stock issued under stock purchase plans 39 49
Acquisition of treasury stock 0 (13,679)
Net change in noncontrolling interests 16,271 8,484
Cash dividends paid on common stock (14,989) (14,311)
Net change in financing activities 676,234 246,679
Net change in cash and cash equivalents 96,871 (2,591)
Cash and cash equivalents, beginning of year 83,365 99,079
Cash and cash equivalents, end of period 180,236 96,488
Non-cash transactions:    
Loans transferred to other real estate and repossessed assets 2,123 9,961
Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan 622 300
Right of use assets obtained in exchange for lease obligations 31 1,383
Leased equipment    
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of equipment owned and leased to others $ 10,569 $ 12,924