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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net Income $ 39,770 $ 4,727
Provision for credit losses (4,390) 30,967
Deferred tax expense (benefit) 3,859 (3,551)
Depreciation and amortization 3,003 2,926
Net gains on securities and other assets (8,452) (1,645)
Net amortization of premiums and discounts on securities 1,268 1,310
Income from increase in cash surrender value of bank owned life insurance (1,621) (1,610)
Decrease (increase) in interest receivable 1,899 (761)
Mortgage loans originated for sale (121,280) (65,236)
Proceeds from sale of mortgage loans 140,780 61,777
Increase in interest payable 1,128 1,122
Increase in income taxes payable 5,626 4,528
Increase (Decrease) in Other Operating Assets and Liabilities, Net 10,360 1,438
Net cash provided by operating activities 51,230 33,116
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 28,936 18,504
Payments to Acquire Held-to-maturity Securities (135,130) 0
Proceeds from Sale of Available-for-sale Securities 0 0
Proceeds from maturities and redemptions of available-for-sale securities 206,993 50,107
Purchases of available-for-sale securities (435,563) (127,368)
Purchases of FHLB stock (1,558) (18,682)
Proceeds from the redemption of FHLB stock 340 16,028
Proceeds from Life Insurance Policy 2,931 557
Proceeds from Sale of Loans Receivable 15,483 7,960
Proceeds from sale of other assets 2,226 1,361
Net decrease (increase) in loans 2,970 (140,013)
Payments for Purchase of Other Assets (2,322) (3,654)
Net cash used in investing activities (314,694) (195,200)
Financing Activities    
Net increase in federal funds purchased 0 27,000
Net decrease in other short-term borrowings (6,611) (81,882)
Net increase in deposits 430,633 245,591
Repayments of other long-term debt (169) (162)
Repayments of Long-term Capital Lease Obligations 115 105
Payments of Dividends (10,578) (10,819)
Purchase of treasury stock (1,643) (5,220)
Net cash provided by financing activities 411,517 174,403
Net increase in cash and cash equivalents 148,053 12,319
Cash and cash equivalents at January 1 356,581 121,856
Cash and cash equivalents at March 31 $ 504,634 $ 134,175