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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 89,433 $ 41,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 4,923 4,778
Amortization of intangible assets 4,271 4,293
Provision for (reversal of) credit losses on loans (7,880) 37,738
Amortization of investment securities premium, net 4,702 1,747
Gain on sale of investment securities 0 (7)
Originations of loans for resale (175,127) (152,968)
Proceeds from sale of loans originated for resale 184,896 156,347
Gain on sale of loans (7,908) (5,662)
Change in market value of mortgage servicing rights 691 2,258
Provision for losses on foreclosed assets 0 0
(Gain) loss on transfer of loans to foreclosed assets (133) 128
Gain on sale of foreclosed assets (68) (57)
Operating lease expense payments (3,690) (3,716)
(Gain) loss on disposal of fixed assets (445) 37
Increase in cash value of life insurance (2,062) (2,203)
(Gain) loss on marketable equity securities 59 (72)
Equity compensation vesting expense 1,900 1,476
Change in:    
Interest receivable 1,579 (660)
Interest payable (306) (836)
Amortization of operating lease ROUA 4,038 4,070
Other assets and liabilities, net 1,046 (9,264)
Net cash from operating activities 99,919 78,584
Investing activities:    
Proceeds from maturities of securities available for sale 263,865 114,122
Proceeds from maturities of securities held to maturity 66,880 64,054
Proceeds from sale of available for sale securities 0 229
Purchases of securities available for sale (960,668) (298,018)
Loan origination and principal collections, net (21,869) (518,564)
Loans purchased (102,710) 0
Proceeds from sale of other real estate owned 944 570
Proceeds from sale of premises and equipment 2,743 0
Purchases of premises and equipment (2,114) (2,340)
Net cash used by investing activities (752,929) (639,947)
Financing activities:    
Net change in deposits 730,888 973,594
Net change in other borrowings 18,687 8,601
Repurchase of common stock, net of option exercises (3,675) (24,999)
Dividends paid (22,291) (19,758)
Exercise of stock options 86 0
Net cash from financing activities 723,695 937,438
Net change in cash and cash equivalents 70,685 376,075
Cash and cash equivalents, beginning of period 669,551 276,507
Cash and cash equivalents, end of period 740,236 652,582
Supplemental disclosure of noncash activities:    
Unrealized (loss) gain on securities available for sale (11,249) 10,036
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 835 736
Obligations incurred in conjunction with leased assets 2,883 4,161
Loans transferred to foreclosed assets 549 157
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 4,573 8,634
Cash paid for income taxes $ 38,500 $ 26,000