XML 30 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income $ 92,072 $ 68,320 $ 40,554
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment, and amortization 6,915 7,014 6,787
Amortization of intangible assets 5,723 3,499 1,389
Provision for (benefit from) loan losses (1,690) 2,583 89
Amortization of investment securities premium, net 2,547 2,512 3,200
Gain on sale of investment securities (110) (207) (961)
Originations of loans for resale (131,074) (84,245) (114,107)
Proceeds from sale of loans originated for resale 131,689 86,988 114,788
Gain on sale of loans (3,282) (2,371) (3,109)
Change in market value of mortgage servicing rights 1,811 146 718
(Reversal of) provision for losses on real estate owned (102) 89 162
Deferred income tax expense 1,692 2,600 12,473
Gain on sale or transfer of loans, to real estate owned (608) (408) (711)
Operating lease payments (4,931)    
Loss on disposal of fixed assets 82 185 142
Increase in cash value of life insurance (3,029) (2,718) (2,685)
Gain on life insurance death benefit (831)   (108)
(Gain) loss on marketable equity securities (86) 64  
Equity compensation vesting expense 1,654 1,462 1,586
Change in      
Interest receivable 515 (5,640) (1,745)
Interest payable 410 1,067 112
Amortization of operating lease ROUA 4,592    
Other assets and liabilities, net (1,153) 10,129 (3,193)
Net cash from operating activities 102,806 91,069 55,381
Investing activities      
Cash acquired in acquisition, net of consideration paid 0 30,613  
Proceeds from maturities of securities available for sale 97,993 73,014 63,942
Proceeds from maturities of securities held to maturity 68,346 68,937 86,371
Proceeds from sale of available for sale securities 127,066 293,279 25,757
Purchases of securities available for sale (37,253) (436,678) (265,806)
Net redemption of restricted equity securities 0 7,429  
Loan origination and principal collections, net (286,339) (173,752) (259,404)
Proceeds from sale of real estate owned 1,336 2,527 2,872
Proceeds from sale of premises and equipment 0 63 3,338
Purchases of premises and equipment (4,293) (7,435) (15,164)
Life insurance proceeds 3,355   649
Net cash from investing activities (29,789) (142,003) (357,445)
Financing activities      
Net change in deposits 528 365,400 113,571
Net change in other borrowings 2,615 (271,327) 104,673
Repurchase of common stock, net (2,196) (2,483) (1,629)
Dividends paid (24,999) (18,769) (15,131)
Exercise of stock options 9 218 396
Net cash from financing activities (24,043) 73,039 201,880
Net change in cash and cash equivalents 48,974 22,105 (100,184)
Cash and cash equivalents at beginning of year 227,533 205,428 305,612
Cash and cash equivalents at end of year 276,507 227,533 205,428
Supplemental disclosure of noncash activities      
Unrealized (loss) gain on securities available for sale 24,361 (17,627) 5,461
Loans transferred to foreclosed assets 1,249 1,262 1,563
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 5,108 1,486 2,225
Obligations incurred in conjunction with leased assets 156    
Supplemental disclosure of cash flow activity      
Cash paid for interest expense 14,965 11,805 5,609
Cash paid for income taxes 35,050 14,525 21,170
Assets acquired in acquisition and goodwill, net 0 1,463,100 0
Liabilities assumed in acquisition $ 0 $ 1,171,968 $ 0