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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Net income $ 54,998 $ 70,061
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 31,031 12,882
Depreciation of premises and equipment 4,255 4,412
Stock-based compensation 2,377 2,069
Amortization of investment securities premiums and accretion of discounts, net 4,238 2,857
Amortization of mortgage servicing rights 1,757 879
Mortgage servicing rights impairments 808 0
Amortization of right of use assets 2,115 2,348
Deferred income taxes (10,509) (4,586)
Gains on investment securities available-for-sale (279) 0
Originations of loans held for sale, net of principal collected (248,639) (100,903)
Proceeds from the sales of loans held for sale 258,253 85,400
Net gain on sale of loans held for sale (10,327) (1,861)
Net gain on sale of other real estate and repossessions (73) (473)
Net gain on sale of premises and equipment 0 (1,289)
Change in interest receivable (2,440) (1,717)
Change in interest payable (6,271) 5,885
Change in other assets 2,312 7,889
Change in other liabilities (2,906) 8,763
Other 1,049 1,348
Net change in operating activities 97,012 113,086
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 301,050 128,257
Purchases of investment securities available-for-sale (337,175) (153,310)
Net change in partnership investments (31,298) (29,823)
Net change in other investments 740 0
Loans sold or participated to others 10,722 50,140
Proceeds from principal payments on direct finance leases 35,384 56,798
Proceeds from PPP lender origination fees 19,375 0
Net change in loans and leases (615,427) (386,170)
Net change in equipment owned under operating leases 16,691 (3,975)
Purchases of premises and equipment (1,988) (6,091)
Proceeds from disposal of premises and equipment 19 3,427
Proceeds from sales of other real estate and repossessions 6,303 9,522
Net Cash Provided by (Used in) Investing Activities (587,201) (331,225)
Financing activities:    
Net change in demand deposits and savings accounts 890,031 17,518
Net change in time deposits (350,502) (251,839)
Net change in short-term borrowings 19,681 (2,193)
Proceeds from issuance of long-term debt 10,000 0
Payments on long-term debt (2,710) (2,499)
Stock issued under stock purchase plans 39 49
Acquisition of treasury stock 0 (15,085)
Net change in noncontrolling interests 16,877 18,325
Cash dividends paid on common stock (22,376) (21,409)
Net change in financing activities 561,040 246,545
Net change in cash and cash equivalents 70,851 28,406
Cash and cash equivalents, beginning of year 83,365 99,079
Cash and cash equivalents, end of period 154,216 127,485
Non-cash transactions:    
Loans transferred to other real estate and repossessed assets 2,969 10,740
Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan 622 300
Right of use assets obtained in exchange for lease obligations 253 16,006
Leased equipment    
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of equipment owned and leased to others $ 15,263 $ 19,122