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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 117,655 $ 64,814 $ 92,072
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment, and amortization 6,363 6,453 6,915
Amortization of intangible assets 5,464 5,724 5,723
Provision for (benefit from) credit losses (6,775) 42,813 (1,690)
Amortization of investment securities premium, net 6,685 2,669 2,547
Gain on sale of investment securities 0 (7) (110)
Originations of loans for resale (217,210) (227,831) (131,074)
Proceeds from sale of loans originated for resale 227,938 234,424 131,689
Gain on sale of loans (9,580) (9,122) (3,282)
Change in market value of mortgage servicing rights 872 2,634 1,811
Provision for (reversal of) losses on real estate owned 0 128 (102)
Deferred income tax expense (936) (14,154) 1,692
Gain on sale or transfer of loans, to real estate owned (233) (235) (608)
Operating lease payments (4,964) (4,927) (4,931)
(Gain) loss on disposal of fixed assets (439) 67 82
Increase in cash value of life insurance (2,775) (2,949) (3,029)
Gain on life insurance death benefit (702) (498) (831)
(Gain) loss on marketable equity securities 86 (64) (86)
Equity compensation vesting expense 2,638 2,036 1,654
Change in value of other real estate 9 0 0
Change in:      
Interest receivable 712 (1,107) 515
Interest payable (434) (1,045) 410
Amortization of operating lease right of use asset 5,452 5,393 4,592
Other assets and liabilities, net 2,381 9,586 (1,153)
Net cash from operating activities 132,207 114,802 102,806
Investing activities:      
Proceeds from maturities of securities available for sale 371,632 167,515 97,993
Proceeds from maturities of securities held to maturity 83,929 89,858 68,346
Proceeds from sale of available for sale securities 0 229 127,066
Purchases of securities available for sale (1,190,690) (617,552) (37,253)
Net redemption of restricted equity securities 0 0 0
Loan origination and principal collections, net (45,812) (415,415) (286,339)
Loans purchased (108,433) (41,126) 0
Proceeds from sale of real estate owned 1,526 570 1,336
Proceeds from sale of premises and equipment 2,743 0 0
Purchases of premises and equipment (3,196) (2,812) (4,293)
Life insurance proceeds 4,490 2,400 3,355
Net cash from investing activities (883,811) (816,333) (29,789)
Financing activities:      
Net change in deposits 861,225 1,138,940 528
Net change in other borrowings 23,173 8,460 2,615
Repurchase of common stock, net (4,344) (26,720) (2,196)
Dividends paid (29,724) (26,303) (24,999)
Exercise of stock options, net 144 198 9
Net cash from financing activities 850,474 1,094,575 (24,043)
Net change in cash and cash equivalents 98,870 393,044 48,974
Cash and cash equivalents at beginning of year 669,551 276,507 227,533
Cash and cash equivalents at end of year 768,421 669,551 276,507
Supplemental disclosure of noncash activities:      
Unrealized gain (loss) on securities available for sale (19,575) 15,796 24,361
Loans transferred to foreclosed assets 1,052 766 1,249
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 2,118 736 5,108
Obligations incurred in conjunction with leased assets 2,883 4,161 156
Supplemental disclosure of cash flow activity:      
Cash paid for interest expense 5,942 10,502 14,965
Cash paid for income taxes $ 46,300 $ 29,500 $ 35,050