XML 18 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 32,941 $ 34,768
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 9,236 1,175
Depreciation of premises and equipment 1,557 1,672
Net amortization of premium and discount on securities and loans 2,716 1,894
Amortization of intangibles 460 478
Share-based compensation 1,613 1,503
Tax benefit (expense) from stock option exercises and other equity awards (77) 172
Income from bank-owned life insurance [1] (1,355) (1,215)
Net gains on loan sales, including fair value adjustments (21,074) (5,998)
Net realized losses on securities [1] 0 80
Proceeds from sales of loans 447,859 199,897
Loans originated for sale (451,539) (213,247)
(Increase) decrease in operating lease right-of-use assets (230) 748
Increase (decrease) in operating lease liabilities 264 (643)
(Increase) decrease in other assets (67,028) (26,368)
Increase (decrease) in other liabilities 59,577 23,781
Net cash provided by (used in) operating activities 14,920 18,697
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (149,481) (72,262)
Purchases of other investment securities available for sale (98,500) (10,507)
Proceeds from sale of other investment securities available for sale 0 9,920
Maturities and principal payments of mortgage-backed securities available for sale 120,745 51,590
Maturities and principal payments of other investment securities available for sale 100,500 11,045
Net redemption (purchases) of Federal Home Loan Bank stock 836 (3,691)
Net (increase) decrease in loans (336,489) (50,729)
Purchases of loans (51,081) (161)
Proceeds from the sale of property acquired through foreclosure or repossession 1,107 0
Purchases of premises and equipment (925) (1,971)
Proceeds from surrender of bank-owned life insurance 787 326
Net cash provided by (used in) investing activities (412,501) (66,440)
Cash flows from financing activities:    
Net increase (decrease) in deposits 602,554 (19,426)
Proceeds from Federal Home Loan Bank advances 1,346,999 1,022,000
Repayment of Federal Home Loan Bank advances (1,483,412) (911,762)
Proceeds from Payment Protection Program Lending Facility 38,900 0
Treasury stock purchased (4,322) 0
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (418) (274)
Cash dividends paid (17,835) (16,456)
Net cash provided by (used in) financing activities 482,466 74,082
Net increase (decrease) in cash and cash equivalents 84,885 26,339
Cash and cash equivalents at beginning of period 138,455 93,475
Cash and cash equivalents at end of period 223,340 119,814
Noncash Investing and Financing Activities:    
Loans charged off 961 922
Loans transferred to property acquired through foreclosure or repossession 28 0
Operating lease right-of-use assets 0 28,923
Operating lease liabilities 0 30,853
Fair value of debt securities transferred from held-to-maturity to available for sale 0 10,316
Supplemental Disclosures:    
Interest Payments 27,257 30,341
Income tax payments $ 8,234 $ 9,786
[1]
As reported in the Consolidated Statements of Income.