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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net Income $ 73,447 $ 105,333 $ 107,498
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 56,718 14,533 12,531
Deferred Income Taxes and Tax Credits (8,217) 2,292 3,473
Depreciation and amortization 11,653 10,370 8,046
Net gains on securities and other assets (18,807) (10,671) (21,540)
Net amortization of premiums and discounts on securities 6,183 3,892 3,083
Income from increase in cash surrender value of bank owned life insurance (6,288) (5,998) (5,808)
Mortgage loans originated for sale (410,715) (251,428) (165,898)
Proceeds from Sale of Mortgage Loans Held-for-sale 408,877 251,968 177,287
Increase in interest receivable (10,735) 423 (2,561)
Increase (decrease) in interest payable (879) (256) 383
(Increase) decrease in income taxes payable (887) 1,484 (1,926)
Distribution from unconsolidated subsidiary 0 0 9,000
Other—net 5,349 (14,310) 11,695
Net cash provided by operating activities 105,699 107,632 135,263
Transactions with securities held to maturity:      
Proceeds from Sale and Maturity of Held-to-maturity Securities 0 948 0
Proceeds from maturities and redemptions 118,905 54,632 47,614
Purchases (85,679) (200) (20,650)
Transactions with securities available for sale:      
Proceeds from sales 0 0 15,939
Proceeds from maturities and redemptions 472,282 189,194 140,707
Purchases (411,178) (138,670) (331,969)
Purchases of FHLB stock (22,231) (36,850) (52,107)
Proceeds from the redemption of FHLB stock 26,766 52,215 51,488
Proceeds from bank owned life insurance 1,444 557 2,140
Proceeds from the sale of loans 41,141 37,534 40,783
Proceeds from sales of other assets 5,531 6,822 4,477
Acquisition, net of cash acquired 0 332,468 705
Net increase in loans (622,504) (358,328) (237,276)
Purchases of premises and equipment (7,615) (17,380) (9,599)
Net cash (used in) provided by investing activities (483,138) 122,942 (347,748)
Financing Activities      
Net increase (decrease) in federal funds purchased 0 (11,000) 11,000
Net (decrease) increase in other short-term borrowings (84,480) (508,970) 3,357
Net increase in deposits 761,398 308,783 176,558
Repayments of other long-term debt (659) (634) (23,598)
Proceeds from Issuance of Long-term Debt 0 50,000 98,026
Repayments of Long-term Capital Lease Obligations 430 402 373
Dividends paid (42,982) (39,394) (34,849)
Proceeds from reissuance of treasury stock 222 211 208
Purchase of treasury stock (20,905) (6,259) (26,189)
Net cash provided by (used in) financing activities 612,164 (207,665) 204,140
Net (decrease) increase in cash and cash equivalents 234,725 22,909 (8,345)
Cash and cash equivalents at January 1 121,856 98,947 107,292
Cash and cash equivalents at December 31 $ 356,581 $ 121,856 $ 98,947