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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net Income $ 103,481 $ 47,764
Provision for credit losses 1,353 49,038
Deferred tax expense (benefit) 1,057 (5,059)
Depreciation and amortization 8,784 8,676
Net gains on securities and other assets (17,093) (12,608)
Net amortization of premiums and discounts on securities 3,693 4,662
Income from increase in cash surrender value of bank owned life insurance (4,617) (4,699)
Decrease (increase) in interest receivable 4,590 (13,105)
Mortgage loans originated for sale (308,744) (287,196)
Proceeds from sale of mortgage loans 338,115 281,424
Increase in interest payable 929 575
Increase (decrease) in income taxes payable 2,142 (536)
Increase (Decrease) in Other Operating Assets and Liabilities, Net 14,267 (1,888)
Net cash provided by operating activities 119,423 70,824
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 89,698 76,841
Payments to Acquire Held-to-maturity Securities (337,054) (9,621)
Proceeds from Sale of Available-for-sale Securities 0 0
Proceeds from maturities and redemptions of available-for-sale securities 353,788 272,544
Purchases of available-for-sale securities (667,861) (282,461)
Purchases of FHLB stock (3,552) (21,903)
Proceeds from the redemption of FHLB stock 3,060 25,698
Proceeds from Life Insurance Policy 5,208 1,147
Proceeds from Sale of Loans Receivable 52,919 25,534
Proceeds from sale of other assets 6,620 4,875
Net increase in loans (37,782) (798,377)
Payments for Purchase of Other Assets (6,056) (6,570)
Net cash used in investing activities (541,012) (712,293)
Financing Activities    
Net increase (decrease) in other short-term borrowings 381 (79,497)
Net increase in deposits 497,915 1,026,580
Repayments of other long-term debt (50,512) (493)
Repayments of Long-term Capital Lease Obligations 346 321
Payments of Dividends (32,673) (32,408)
Proceeds from reissuance of treasury stock 222 222
Purchase of treasury stock (15,305) (14,373)
Net cash provided by financing activities 399,682 899,710
Net (decrease) increase in cash and cash equivalents (21,907) 258,241
Cash and cash equivalents at January 1 356,581 121,856
Cash and cash equivalents at September 30 $ 334,674 $ 380,097