XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 71,450 $ 59,745
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 4,555 4,477
Provision for credit losses [1] 1,077  
Provision for credit losses [1]   13,850
Gain on sale and write down of other real estate owned (53) 0
Amortization of loan servicing rights 1,697 563
Net change in loan servicing rights valuation allowance (197) 628
Loans originated for sale, including participations (92,728) (93,805)
Net gain on sales of loans (3,609) (3,286)
Proceeds from sale of loans, including participations 98,655 90,568
Net (gain) loss on sales of premises and equipment 4 82
Net gain on sales and calls of securities available-for-sale (797) (363)
Net securities amortization 3,457 3,021
Stock based compensation expense 6,135 822
Earnings on life insurance (2,101) (1,476)
Gain on life insurance (404) (576)
Tax benefit of stock award issuances (266) (71)
Net change:    
Interest receivable and other assets (2,090) (3,987)
Interest payable and other liabilities 1,196 (8,927)
Total adjustments 14,531 1,520
Net cash from operating activities 85,981 61,265
Cash flows from investing activities:    
Proceeds from sale of securities available- for-sale 13,964 6,413
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 102,399 69,259
Purchases of securities available-for-sale (640,364) (89,934)
Purchase of life insurance (648) (361)
Net (increase) decrease in total loans 410,323 (527,886)
Proceeds from sales of land, premises and equipment 6 651
Purchases of land, premises and equipment (5,265) (5,154)
Proceeds from sales of other real estate 946 0
Proceeds from life insurance 931 1,285
Net cash from investing activities (117,708) (545,727)
Cash flows from financing activities:    
Net increase in total deposits 377,833 634,135
Net increase (decrease) in short-term borrowings (10,500) 10,500
Payments on short-term FHLB borrowings 0 (170,000)
Proceeds from long-term FHLB borrowings 0 75,000
Common dividends paid (25,973) (22,938)
Preferred dividends paid (13) (13)
Payments related to equity incentive plans (1,818) (2,030)
Purchase of treasury stock (496) (10,492)
Net cash from financing activities 339,033 514,162
Net change in cash and cash equivalents 307,306 29,700
Cash and cash equivalents at beginning of the period 249,927 99,381
Cash and cash equivalents at end of the period 557,233 129,081
Cash paid during the period for:    
Interest 14,859 30,255
Income taxes 20,637 14,380
Supplemental non-cash disclosures:    
Loans transferred to other real estate owned 893 35
Securities purchases payable $ 4,982 $ 7,712
[1] Beginning January 1, 2021 calculation is based on the current expected credit loss methodology. Prior to January 1, 2021 calculation was based on the incurred loss methodology.