XML 23 R8.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 71,289 $ 73,395 $ 60,352
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and amortization of premises and equipment 4,244 3,053 3,062
Provision for loan losses 41,000 8,100 21,100
Amortization of intangibles 2,559 1,408 627
Net accretion of loans (6,687) (5,056) (1,127)
Accretion on bank premises (90) (86) (67)
Accretion on deposits (4,301) (1,149) (57)
(Accretion) amortization on borrowings (183) 209 (76)
Net deferred income tax expense (7,495) 104 926
Stock-based compensation 2,949 2,942 1,884
Losses (gains) on sales of investment securities, net (29) 280
Change in fair value of equity securities, net (202) (294) 267
Gains (losses) on sale of loans held-for-sale, net (2,085) (512) (61)
Loans originated for resale (63,114) (20,499) (4,121)
Loss on extinguishment of debt 1,047
Proceeds from sale of loans held-for-sale 80,323 21,011 4,552
Net (gains) losses on disposition of premises and equipment (8) 26
Net (gains) losses on sale of other real estate owned (8) 192
Increase in cash surrender value of bank owned life insurance (4,793) (3,484) (3,094)
Amortization of premiums and accretion of discounts on investments securities, net 5,506 4,299 3,233
Amortization of subordinated debt issuance costs 323 329 332
Increase in accrued interest receivable (11,458) (301) (2,744)
Net change in operating leases 41 1,312
Increase in other assets (22,498) (22,619) (1,134)
(Decrease) increase in other liabilities (4,174) (2,785) 4,988
Net cash provided by operating activities 81,125 60,688 89,060
Investment securities available-for-sale:      
Purchases (338,087) (225,853) (140,013)
Sales 19,624 183,728
Maturities, calls and principal repayments 256,782 178,116 141,859
Net redemptions (purchases) of restricted investment in bank stocks 5,362 3,739 2,361
Purchases of equity securities (2,000)
Sales of equity securities 569
Loans held-for-sale payments 1,186 47 159
Net increase in loans (329,210) (243,430) (362,625)
Purchases of premises and equipment (2,199) (1,527) (2,051)
Purchases of bank owned life insurance (25,000) (10,000)
Proceeds from life insurance death benefits 1,794 585
Proceeds from sale of premises and equipment 18 1,627
Cash and cash equivalents acquired in acquisitions, net 87,391 11,211
Proceeds from sale of other real estate owned 992 915 884
Net cash used in investing activities (323,365) (102,467) (357,214)
Cash flows from financing activities      
Net increase in deposits 410,605 260,489 297,021
Increase in subordinated debt 73,440 73,525
Advances of borrowings 1,526,489 2,597,000 1,733,000
Repayments of borrowings (1,650,387) (2,762,150) (1,803,000)
Cash dividends paid on common stock (14,317) (12,160) (9,664)
Purchase of treasury stock (911) (12,643)
Proceeds from exercise of stock options 233 360 875
Share redemption for tax withholdings on performance units and restricted stock units earned (639) (819)
Net cash provided by financing activities 344,513 70,896 290,938
Net change in cash and cash equivalents 102,273 29,117 22,784
Cash and cash equivalents at beginning of period 201,483 172,366 149,582
Cash and cash equivalents at end of period 303,756 201,483 172,366
Cash payments for:      
Interest paid 74,701 88,522 55,662
Income taxes paid 18,497 18,497 9,092
Supplemental disclosures of noncash investing activities:      
Transfer of loans to other real estate owned 907 538
Transfer of loan held-for-sale to loans held-for-investment 10,995 45,552
Transfer of loans held-for-investment to loans held-for-sale 26,548 33,297 21,236
Business combinations:      
Fair value of net assets acquired, net of cash and cash equivalents $ 949,282 $ 534,146