XML 22 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 64,814 $ 92,072 $ 68,320
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment, and amortization 6,453 6,915 7,014
Amortization of intangible assets 5,724 5,723 3,499
Provision for (benefit from) credit losses 42,813 (1,690) 2,583
Provision for (benefit from) credit losses   (1,690) 2,583
Amortization of investment securities premium, net 2,669 2,547 2,512
Gain on sale of investment securities (7) (110) (207)
Originations of loans for resale (227,831) (131,074) (84,245)
Proceeds from sale of loans originated for resale 234,424 131,689 86,988
Gain on sale of loans (9,122) (3,282) (2,371)
Change in market value of mortgage servicing rights 2,634 1,811 146
Provision for (reversal of) losses on real estate owned 128 (102) 89
Deferred income tax expense (14,154) 1,692 2,600
Gain on sale or transfer of loans, to real estate owned (235) (608) (408)
Operating lease payments (4,927) (4,931) 0
Loss on disposal of fixed assets 67 82 185
Increase in cash value of life insurance (2,949) (3,029) (2,718)
Gain on life insurance death benefit (498) (831) 0
(Gain) loss on marketable equity securities (64) (86) 64
Equity compensation vesting expense 2,036 1,654 1,462
Change in:      
Interest receivable (1,107) 515 (5,640)
Interest payable (1,045) 410 1,067
Amortization of operating lease right of use asset 5,393 4,592 0
Other assets and liabilities, net 9,586 (1,153) 10,129
Net cash from operating activities 114,802 102,806 91,069
Investing activities:      
Cash acquired in acquisition; net of consideration paid 0 0 30,613
Proceeds from maturities of securities available for sale 167,515 97,993 73,014
Proceeds from maturities of securities held to maturity 89,858 68,346 68,937
Proceeds from sale of available for sale securities 229 127,066 293,279
Purchases of securities available for sale (617,552) (37,253) (436,678)
Net redemption of restricted equity securities 0 0 7,429
Loan origination and principal collections, net (415,415) (286,339) (173,752)
Loans purchased (41,126) 0 0
Proceeds from sale of real estate owned 570 1,336 2,527
Purchases of premises and equipment (2,812) (4,293) (7,372)
Life insurance proceeds 2,400 3,355 0
Net cash from investing activities (816,333) (29,789) (142,003)
Financing activities:      
Net change in deposits 1,138,940 528 365,400
Net change in other borrowings 8,460 2,615 (271,327)
Repurchase of common stock, net (26,720) (2,196) (2,483)
Dividends paid (26,303) (24,999) (18,769)
Exercise of stock options, net 198 9 218
Net cash from financing activities 1,094,575 (24,043) 73,039
Net change in cash and cash equivalents 393,044 48,974 22,105
Cash and cash equivalents at beginning of year 276,507 227,533 205,428
Cash and cash equivalents at end of year 669,551 276,507 227,533
Supplemental disclosure of noncash activities:      
Unrealized gain (loss) on securities available for sale 15,796 24,361 (17,627)
Loans transferred to foreclosed assets 766 1,249 1,262
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 736 5,108 1,486
Obligations incurred in conjunction with leased assets 4,161 156 0
Supplemental disclosure of cash flow activity:      
Cash paid for interest expense 10,502 14,965 11,805
Cash paid for income taxes 29,500 35,050 14,525
Assets acquired in acquisition and goodwill, net 0 0 1,463,100
Liabilities assumed in acquisition $ 0 $ 0 $ 1,171,968