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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 80,142 $ 35,081
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses (8,012) 48,480
Depreciation and amortization of premises and equipment 4,921 4,952
Net amortization on securities 3,049 1,596
Amortization of intangible assets 1,494 1,717
Amortization of operating lease right-of-use assets 3,613 3,702
Excess tax benefit on stock-based compensation (322) (178)
Stock-based compensation expense 3,256 3,309
Bank owned life insurance income (3,040) (2,755)
Amortization of subordinated debt issuance costs 219 17
Proceeds from sale of loans held for sale 28,667 101,286
Originations of loans held for sale (28,792) (106,381)
Net gains on sale of loans held for sale (160) (829)
Net security (gains) losses (668) 632
Net gains on sale of other real estate owned (19) (85)
Net change in other assets and other liabilities 11,339 (13,502)
Net cash provided by operating activities 95,687 77,042
Investing activities    
Net cash used in acquisitions 0 (3,899)
Securities available for sale:    
Proceeds from maturities, calls and principal paydowns 216,468 148,658
Purchases (418,915) (255,143)
Securities held to maturity:    
Proceeds from maturities, calls and principal paydowns 110,328 116,022
Proceeds from sales 0 996
Purchases (116,360) (86,209)
Equity securities:    
Proceeds from calls 1,000 0
Other:    
Net increase in loans (22,270) (502,382)
Proceeds from Federal Home Loan Bank stock redemption 2,352 48,672
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (131) (36,588)
Proceeds from settlement of bank owned life insurance 2,967 527
Purchases of bank owned life insurance (40,000) 0
Purchases of premises and equipment, net (3,138) (3,586)
Proceeds from sales of other real estate owned 719 777
Net cash used in investing activities (266,980) (572,155)
Financing activities    
Net increase in deposits 703,565 1,228,071
Net decrease in short-term borrowings (77,788) (315,619)
Proceeds from issuance of subordinated debt 0 100,000
Payment of subordinated debt issuance costs 0 (2,035)
Repayments of long-term debt (25,052) (57)
Proceeds from the issuance of shares to employee and other stock plans 112 184
Cash paid by employer for tax-withholdings on stock issuance (1,935) (1,168)
Purchase of treasury stock (9,871) (7,980)
Cash dividends (23,476) (23,634)
Net cash provided by financing activities 565,555 977,762
Net increase in cash and cash equivalents 394,262 482,649
Cash and cash equivalents at beginning of period 672,681 216,843
Cash and cash equivalents at end of period 1,066,943 699,492
Cash paid during the period for:    
Interest expense 11,350 19,985
Income taxes paid, net of refund 28,004 4,157
Noncash investing activities:    
Loans transferred to other real estate owned 40 1,017
Acquisitions:    
Fair value of assets acquired $ 0 $ 3,328