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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 62,011 $ 23,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 3,357 3,193
Amortization of intangible assets 2,862 2,862
Provision for (reversal of) credit losses on loans (6,385) 30,089
Amortization of investment securities premium, net 2,855 1,054
Gain on sale of investment securities 0 0
Originations of loans for resale (129,684) (84,872)
Proceeds from sale of loans originated for resale 135,353 83,867
Gain on sale of loans (6,094) (2,627)
Change in market value of mortgage servicing rights 459 2,494
Provision for losses on foreclosed assets 9 106
Gain on transfer of loans to foreclosed assets (20) 0
Gain on sale of foreclosed assets (46) (57)
Operating lease expense payments (2,430) (2,480)
(Gain) loss on disposal of fixed assets (426) 15
Increase in cash value of life insurance (1,418) (1,430)
Loss (gain) on marketable equity securities 45 (72)
Equity compensation vesting expense 1,163 931
Change in:    
Interest receivable 1,081 (1,440)
Interest payable (336) (673)
Amortization of operating lease ROUA 2,645 2,720
Other assets and liabilities, net (6,195) 6,474
Net cash from operating activities 58,806 63,705
Investing activities:    
Proceeds from maturities of securities available for sale 180,046 60,637
Proceeds from maturities of securities held to maturity 48,269 37,905
Purchases of securities available for sale (620,634) (101,899)
Loan origination and principal collections, net (79,803) (493,437)
Loans purchased (101,466) 0
Proceeds from sale of other real estate owned 756 570
Proceeds from sale of premises and equipment 2,700 0
Purchases of premises and equipment (854) (1,266)
Net cash used by investing activities (570,986) (497,490)
Financing activities:    
Net change in deposits 486,119 881,264
Net change in other borrowings 13,645 20,090
Repurchase of common stock, net of option exercises (2,561) (25,164)
Dividends paid (14,862) (13,208)
Exercise of stock options 28 148
Net cash from financing activities 482,369 863,130
Net change in cash and cash equivalents (29,811) 429,345
Cash and cash equivalents, beginning of period 669,551 276,507
Cash and cash equivalents, end of period 639,740 705,852
Supplemental disclosure of noncash activities:    
Unrealized (loss) gain on securities available for sale (4,945) 5,398
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 451 494
Obligations incurred in conjunction with leased assets 1,308 4,068
Loans transferred to foreclosed assets 102 0
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 3,208 6,487
Cash paid for income taxes $ 33,300 $ 0