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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 20,374 $ 33,649
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 1,409 1,698
Amortization of intangible assets 1,228 1,431
Provision for (reversal of) credit losses 8,330 (6,060)
Amortization of investment securities premium, net 5,618 1,186
Gain on sale of investment securities 0 0
Originations of loans for resale (30,187) (65,970)
Proceeds from sale of loans originated for resale 33,509 70,987
Gain on sale of loans (1,246) (3,247)
Change in market value of mortgage servicing rights (274) (12)
Provision for losses on foreclosed assets 0 9
Gain on sale of foreclosed assets 0 (51)
Operating lease expense payments (1,292) (1,204)
Gain on disposal of fixed assets (1,078) 0
Increase in cash value of life insurance (638) (673)
Loss on marketable equity securities 137 53
Equity compensation vesting expense 812 537
Change in:    
Interest receivable (83) 562
Interest payable (801) (392)
Amortization of operating lease ROUA 1,374 1,317
Other assets and liabilities, net (2,347) 7,376
Net cash from operating activities 34,845 41,196
Investing activities:    
Proceeds from maturities of securities available for sale 85,298 91,813
Proceeds from maturities of securities held to maturity 12,894 23,850
Purchases of securities available for sale (247,354) (372,917)
Loan origination and principal collections, net (161,865) (102,230)
Loans purchased 0 (101,466)
Proceeds from sale of other real estate owned 0 577
Proceeds from sale of premises and equipment 6,689 0
Purchases of premises and equipment (631) (188)
Cash acquired from VRB, net of cash consideration paid 426,883 0
Net cash from (used by) investing activities 121,914 (460,561)
Financing activities:    
Net change in deposits 131,839 357,466
Net change in other borrowings (13,903) 9,312
Repurchase of common stock, net of option exercises 0 (10)
Dividends paid (7,433) (7,432)
Net cash from financing activities 110,503 359,336
Net change in cash and cash equivalents 267,262 (60,029)
Cash and cash equivalents, beginning of period 768,421 669,551
Cash and cash equivalents, end of period 1,035,683 609,522
Supplemental disclosure of noncash activities:    
Unrealized loss on securities available for sale (111,302) (12,337)
Loans transferred to held-for-sale 12,044 0
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 55 2
Obligations incurred in conjunction with leased assets 521 1,308
Loans transferred to foreclosed assets 313 0
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 1,546 1,868
Cash paid for income taxes $ 0 $ 0