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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 130,353 $ 71,289 $ 73,395
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and amortization of premises and equipment 3,757 4,244 3,053
(Reversal) of provision for credit losses (5,500) 41,000 8,100
Amortization of intangibles 1,980 2,559 1,408
Net accretion of loans (5,350) (6,687) (5,056)
Accretion on bank premises (73) (90) (86)
Accretion on deposits (2,224) (4,301) (1,149)
(Accretion) amortization on borrowings (36) (183) 209
Net deferred income tax expense 16 (7,495) 104
Stock-based compensation 4,536 2,949 2,942
Losses (gains) on sales/redemptions of investment securities, net (195) (29) 280
Change in fair value of equity securities, net 373 (202) (294)
Gains (losses) on sale of loans held-for-sale, net (3,807) (2,085) (512)
Gain on sale of branches (674)
Net losses on disposition of other fixed assets 65
Gain on sale of other real estate owned (18)
Loans originated for resale (51,669) (63,114) (20,499)
Loss on extinguishment of debt 1,047
Proceeds from sale of loans held-for-sale 72,233 80,323 21,011
Net gains on disposition of premises and equipment (8)
Net gains on sale of other real estate owned (8)
Increase in cash surrender value of bank owned life insurance (4,771) (4,793) (3,484)
Amortization of premiums and accretion of discounts on investments securities, net 5,966 5,506 4,299
Amortization of subordinated debt issuance costs 303 323 329
Increase (decrease) in accrued interest receivable 1,165 (11,458) (301)
Net change in operating leases (769) 41 1,312
Decrease (increase) in other assets 46,086 (22,498) (22,619)
Increase (decrease) in other liabilities 10,526 (4,174) (2,785)
Net cash provided by operating activities 202,273 81,125 60,688
Investment securities available-for-sale:      
Purchases (349,500) (338,087) (225,853)
Sales 19,624 183,728
Maturities, calls and principal repayments 285,873 256,782 178,116
Net (purchases)/redemptions of restricted investment in bank stocks (2,727) 5,362 3,739
Purchases of equity securities (780) (2,000)
Sales of equity securities 569
Loans held-for-sale payments 38 1,186 47
Net increase in loans (596,389) (329,210) (243,430)
Purchases of premises and equipment (2,783) (2,199) (1,527)
Purchases of bank owned life insurance (25,000) (25,000) (10,000)
Proceeds from life insurance death benefits 1,794
Proceeds from sale of branches 1,087
Proceeds from sale of premises and equipment 18
Cash and cash equivalents acquired in acquisitions, net 87,391 11,211
Proceeds from sale of other real estate owned 321 992 915
Net cash used in investing activities (689,860) (323,365) (102,467)
Cash flows from financing activities      
Net increase in deposits 375,953 410,605 260,489
(Repayment of) increase in subordinated debt (50,000) 73,440
Advances of FHLB borrowings 340,000 1,526,489 2,597,000
Repayments of FHLB borrowings (297,725) (1,650,387) (2,762,150)
Cash dividends paid on preferred stock (1,717)
Cash dividends paid on common stock (17,493) (14,317) (12,160)
Proceeds from preferred stock offering 110,927
Purchase of treasury stock (9,401) (911) (12,643)
Proceeds from exercise of stock options 106 233 360
Share redemption for tax withholdings on performance units and restricted stock units earned (1,283) (639)
Net cash provided by financing activities 449,367 344,513 70,896
Net change in cash and cash equivalents (38,220) 102,273 29,117
Cash and cash equivalents at beginning of period 303,756 201,483 172,366
Cash and cash equivalents at end of period 265,536 303,756 201,483
Cash payments for:      
Interest paid 41,787 74,701 88,522
Income taxes paid 45,431 26,548 18,497
Supplemental disclosures of noncash investing activities:      
Transfer of loans to other real estate owned 304 907
Transfer of loans held-for-sale to loans held-for-investment 4,293 10,995
Transfer of loans held-for-investment to loans held-for-sale $ 16,628 $ 26,548 $ 33,297