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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 63,739 $ 65,218
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,942 1,746
Provision for (reversal of) credit losses 4,450 (7,415)
Amortization of intangibles 867 1,015
Net accretion of loans (1,689) (2,803)
Accretion on bank premises (24) (45)
Accretion on deposits (518) (1,248)
Amortization (accretion) on borrowings, net 14 (36)
Stock-based compensation 2,299 1,957
Gains on sales/redemptions of securities available-for-sale, net 0 (195)
Losses on equity securities, net 1,001 164
Gain on sale of branches 0 (674)
Net losses on disposition of other premises and equipment 0 27
Gains on sale of loans held-for-sale, net (1,257) (1,554)
Loans originated for resale (14,795) (30,600)
Proceeds from sale of loans held-for-sale 16,302 40,043
Gain on sale of other real estate owned 0 (18)
Increase in cash surrender value of bank owned life insurance (2,548) (2,249)
Amortization of premiums and accretion of discounts on securities available-for-sale 1,481 3,152
Amortization of subordinated debentures issuance costs 152 152
(Increase) decrease in accrued interest receivable (463) 1,316
Net change in operating leases (93) (439)
(Increase) decrease in other assets (4,024) 48,236
Increase in other liabilities 4,131 3,705
Net cash provided by operating activities 70,967 119,455
Cash flows from investing activities    
Purchases (296,254) (126,641)
Maturities, calls and principal repayments 98,824 147,342
Purchases of equity securities (3,200) 0
Net (purchases) redemptions of restricted investment in bank stocks (19,461) 2,536
Payments on loans held-for-sale 2,390 18
Net increase in loans (450,723) (173,384)
Purchases of bank owned life insurance (30,000) (25,000)
Purchases of premises and equipment (1,276) (541)
Proceeds from sale of branches 0 1,087
Proceeds from sale of other real estate owned 0 321
Net cash used in investing activities (699,700) (174,262)
Cash flows from financing activities    
Net increase in deposits 285,164 234,537
Increase in (repayment of) subordinated debentures 0 (50,000)
Advances of borrowings 1,450,181 100,000
Repayments of borrowings (1,043,424) (172,456)
Cash dividends on preferred stock (3,018) 0
Repurchase of treasury stock (13,127) (2,411)
Cash dividends paid on common stock (11,250) (7,964)
Proceeds from exercise of stock options 124 45
Share redemption for tax withholdings on performance units and restricted stock units earned (2,133) (1,283)
Net cash provided by financing activities 662,517 100,468
Net change in cash and cash equivalents 33,784 45,661
Cash and cash equivalents at beginning of period 265,536 303,756
Cash and cash equivalents at end of period 299,320 349,417
Supplemental disclosures of cash flow information    
Interest paid on deposits and borrowings 18,117 23,236
Income taxes 20,832 20,299
Supplemental disclosures of noncash activities    
Transfer of loans from held-for-investment to other real estate owned 316 304
Transfer of loans from held-for-investment to held-for-sale $ 5,572 $ 9,356