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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net income $ 28,194 $ 18,180
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses 0 5,590
Net security premium amortization 2,876 804
Loan discount accretion (1,341) (1,841)
Other purchase accounting accretion and amortization, net 29 14
Foreclosed property losses and write-downs, net 157 159
Other losses 34 (74)
Increase in net deferred loan fees 2,845 320
Bank-owned life insurance income (620) (642)
Depreciation of premises and equipment 1,448 1,563
Amortization of operating lease right-of-use assets 517 496
Repayments of lease obligations (416) (452)
Stock-based compensation expense 397 513
Amortization of intangible assets 897 1,055
Amortization of SBA servicing assets 470 918
Fees/gains from sale of presold mortgages and SBA loans (6,874) (2,488)
Origination of presold mortgage loans in process of settlement (112,592) (48,143)
Proceeds from sales of presold mortgage loans in process of settlement 127,346 54,764
Origination of SBA loans for sale (37,359) (36,081)
Proceeds from sales of SBA loans 32,467 16,031
Decrease in accrued interest receivable 1,620 881
Increase in other assets (5,242) (1,096)
Increase in net deferred income tax asset (4,596) (63)
Decrease in accrued interest payable (163) (54)
Increase in other liabilities 639 3,318
Net cash provided by operating activities 30,733 13,672
Cash Flows From Investing Activities    
Purchases of securities available for sale (475,960) (9,423)
Purchases of securities held to maturity (37,438) (3,624)
Proceeds from maturities/issuer calls of securities available for sale 80,650 45,037
Proceeds from maturities/issuer calls of securities held to maturity 5,780 10,075
Redemptions (purchases) of FRB and FHLB stock, net 1,836 (4,572)
Net decrease (increase) in loans 110,212 (95,680)
Proceeds from sales of foreclosed properties 1,183 889
Purchases of premises and equipment (4,534) (1,321)
Proceeds from sales of premises and equipment 218 189
Net cash used by investing activities (318,053) (58,430)
Cash Flows From Financing Activities    
Net increase in deposits 459,906 113,664
Net decrease in short-term borrowings 0 (48,000)
Proceeds from long-term borrowings 0 150,000
Payments on long-term borrowings (531) (531)
Cash dividends paid – common stock (5,140) (5,328)
Repurchases of common stock (4,036) (20,000)
Payment of taxes related to stock withheld (103) 0
Net cash provided by financing activities 450,096 189,805
Increase in cash and cash equivalents 162,776 145,047
Cash and cash equivalents, beginning of period 367,290 231,302
Cash and cash equivalents, end of period 530,066 376,349
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 2,934 7,328
Cash paid during the period for income taxes 9,585 20
Non-cash: Unrealized (loss) gain on securities available for sale, net of taxes (18,666) 15,993
Non-cash: Foreclosed loans transferred to other real estate 727 662
Non-cash: Initial recognition of operating lease right-of-use assets and operating lease liabilities $ 444 $ 0