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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 41,157 $ 69,182
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 4,778 5,273
Amortization of intangible assets 4,293 4,293
Provision for (reversal of) credit losses 37,963 (1,392)
Amortization of investment securities premium, net 1,747 2,050
Gain on sale of investment securities (7) (107)
Originations of loans for resale (152,968) (92,002)
Proceeds from sale of loans originated for resale 156,347 89,506
Gain on sale of loans (5,662) (2,223)
Change in market value of mortgage servicing rights 2,258 1,652
Provision for losses on foreclosed assets 0 56
Gain (loss) on transfer of loans to foreclosed assets 128 (151)
Gain on sale of foreclosed assets (57) (246)
Operating lease expense payments (3,716) (3,683)
Loss on disposal of fixed assets 37 82
Increase in cash value of life insurance (2,203) (2,294)
Gain on life insurance death benefit 0 (831)
Gain on marketable equity securities (72) (100)
Equity compensation vesting expense 1,476 1,213
Change in:    
Interest receivable (660) 1,207
Interest payable (836) 850
Accretion (amortization) of operating lease ROUA 4,070 (463)
Other assets and liabilities, net (9,489) 4,394
Net cash from operating activities 78,584 76,266
Investing activities:    
Proceeds from maturities of securities available for sale 114,122 69,278
Proceeds from maturities of securities held to maturity 64,054 50,738
Proceeds from sale of available for sale securities 229 125,247
Purchases of securities available for sale (298,018) (37,253)
Loan origination and principal collections, net (518,564) (159,991)
Proceeds from sale of other real estate owned 570 1,255
Proceeds from sale of premises and equipment 0 0
Purchases of premises and equipment (2,340) (3,070)
Net cash (used by) from investing activities (639,947) 46,204
Financing activities:    
Net change in deposits 973,594 (71,059)
Net change in other borrowings 8,601 584
Repurchase of common stock, net of option exercises (24,999) (2,196)
Dividends paid (19,758) (18,285)
Exercise of stock options 0 0
Net cash (used by) from financing activities 937,438 (90,956)
Net change in cash and cash equivalents 376,075 31,514
Cash and cash equivalents, beginning of period 276,507 227,533
Cash and cash equivalents, end of period 652,582 259,047
Supplemental disclosure of noncash activities:    
Unrealized gain on securities available for sale 10,036 27,511
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 736 4,842
Obligations incurred in conjunction with leased assets 4,161 32,162
Loans transferred to foreclosed assets 157 331
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 8,634 10,803
Cash paid for income taxes $ 26,000 $ 25,950