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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 51,738 $ 62,011
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 2,962 3,357
Amortization of intangible assets 2,930 2,862
Provision for (reversal of) credit losses on loans 10,145 (6,385)
Amortization of investment securities premium, net 6,297 2,855
Originations of loans for resale (50,254) (129,684)
Proceeds from sale of loans originated for resale 53,806 135,353
Gain on sale of loans (1,788) (6,094)
Change in market value of mortgage servicing rights (410) 459
Provision for losses on foreclosed assets 0 9
Gain on transfer of loans to foreclosed assets (97) (20)
Gain on sale of foreclosed assets 0 (46)
Operating lease expense payments (2,815) (2,430)
Gain on disposal of fixed assets (1,073) (426)
Increase in cash value of life insurance (1,390) (1,418)
Loss on marketable equity securities 232 45
Equity compensation vesting expense 1,742 1,163
Change in:    
Interest receivable (3,175) 1,081
Interest payable (699) (336)
Amortization of operating lease ROUA 2,930 2,645
Other assets and liabilities, net 1,059 (6,195)
Net cash from operating activities 72,140 58,806
Investing activities:    
Proceeds from maturities of securities available for sale 151,486 180,046
Proceeds from maturities of securities held to maturity 22,752 48,269
Purchases of securities available for sale (654,691) (620,634)
Loan origination and principal collections, net (423,606) (79,803)
Loans purchased 0 (101,466)
Proceeds from sale of other real estate owned 0 756
Proceeds from sale of premises and equipment 6,689 2,700
Purchases of premises and equipment (2,223) (854)
Cash acquired from VRB, net of cash consideration paid 426,883 0
Net cash used by investing activities (472,710) (570,986)
Financing activities:    
Net change in deposits 174,137 486,119
Net change in other borrowings (14,998) 13,645
Repurchase of common stock, net of option exercises (22,586) (2,561)
Dividends paid (15,792) (14,862)
Exercise of stock options 256 28
Net cash from financing activities 121,017 482,369
Net change in cash and cash equivalents (279,553) (29,811)
Cash and cash equivalents, beginning of period 768,421 669,551
Cash and cash equivalents, end of period 488,868 639,740
Supplemental disclosure of noncash activities:    
Unrealized loss on securities available for sale (208,710) (4,945)
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 829 451
Obligations incurred in conjunction with leased assets 3,867 1,308
Loans transferred to foreclosed assets 688 102
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 3,353 3,208
Cash paid for income taxes $ 12,000 $ 33,300