XML 34 R8.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income/(loss) attributable to the Company $ 45,153 $ 80,028 $ 80,384
Adjustments to arrive at net income/(loss) from continuing operations      
Less: Net income attributable to noncontrolling interests 6 362 3,487
Net income from discontinued operations 0 0 (2,002)
Net income from continuing operations 45,159 80,390 81,869
Adjustments to reconcile net income/(loss) from continuing operations to net cash provided by/(used in) operating activities:      
Depreciation and amortization 21,748 24,125 23,129
Net income attributable to noncontrolling interests (6) (362) (3,487)
Stock compensation, net of cancellations 5,342 4,820 6,676
Provision/(credit) for loan losses 31,998 (3,564) (2,198)
Loans originated for sale (115,744) (62,690) (37,631)
Proceeds from sale of Loans held for sale 107,187 58,541 39,773
(Gain) on sale of affiliate 0 0 (18,142)
Goodwill and intangibles, net on sale of affiliate 0 0 18,919
Deferred income tax expense/(benefit) (10,441) 5,423 5,829
Decrease in operating Right-of-use assets 4,216 6,386 0
Decrease in operating Lease liabilities (4,875) (7,050) 0
Net decrease/(increase) in other operating activities (23,836) (32,737) (23,240)
Net cash provided by operating activities of continuing operations 60,748 73,282 91,497
Net cash provided by operating activities of discontinued operations 0 0 2,002
Net cash provided by operating activities 60,748 73,282 93,499
Investment securities available-for-sale:      
Purchases (346,350) (84,514) (39,747)
Sales 0 0 53,412
Maturities, redemptions, and principal payments 105,951 128,654 120,523
Investment securities held-to-maturity:      
Purchases 0 0 (21,752)
Principal payments 12,593 21,949 25,598
Equity securities at fair value:      
Purchases (45,097) (51,395) (63,791)
Sales 22,455 46,813 70,357
(Investments)/distributions in trusts, net (1,085) 720 224
Contingent considerations from divestitures 4,834 4,507 1,233
(Purchase)/redemption of FHLB and FRB stock, net 10,415 10,185 10,710
Net increase in portfolio loans excluding sales of portfolio loans (200,096) (277,351) (390,884)
Proceeds from recoveries of loans previously charged-off 473 1,463 3,266
Proceeds from sales of OREO 0 492 108
Proceeds from sales of portfolio loans 71,992 190,686 0
Proceeds from sales of affiliates 0 0 52,981
Capital expenditures (11,086) (11,205) (20,643)
Net cash provided by investing activities (375,001) (18,996) (198,405)
Cash flows from financing activities:      
Net increase in deposits 1,353,890 460,306 270,924
Net (decrease)/increase in securities sold under agreements to repurchase 74 16,470 4,759
Net (decrease)/increase in federal funds purchased 0 (250,000) 220,000
Net (decrease)/increase in short-term FHLB borrowings (75,000) 35,000 (220,000)
Advances of long-term FHLB borrowings 625,000 340,000 116,444
Repayments of long-term FHLB borrowings (786,170) (444,315) (169,981)
Repurchase of Series D preferred stock, including deemed dividend 0 0 (50,000)
Repurchase of common stock (12,807) (7,193) (20,000)
Dividends paid to common shareholders (29,683) (40,380) (40,685)
Dividends paid to preferred shareholders 0 0 (1,738)
Proceeds from warrant exercises 0 0 372
Proceeds from stock option exercises 112 562 1,661
Proceeds from issuance of common stock 2,243 2,413 1,866
Tax withholding for share based compensation awards (335) (1,319) (2,430)
Distributions paid to noncontrolling interests (6) (362) (3,354)
Other equity adjustments 44 (248) 3,786
Net cash (used in) financing activities 1,077,362 110,934 111,624
Net increase in Cash and cash equivalents 763,109 165,220 6,718
Cash and cash equivalents at beginning of year 292,479 127,259 120,541
Cash and cash equivalents at end of year 1,055,588 292,479 127,259
Supplementary schedule of non-cash investing and financing activities:      
Cash paid for interest 40,502 80,428 58,548
Cash paid for income taxes, net of (refunds received) 7,167 17,017 20,541
Change in unrealized gain/(loss) on Investment securities available-for-sale, net of tax 24,237 25,991 (9,077)
Change in unrealized gain/(loss) on cash flow hedges, net of tax (162) (391) 54
Change in unrealized gain/(loss) on other, net of tax 35 (306) 296
Transfer of net assets into held for sale 0 0 21
Loans charged-off (2,830) (1,229) (899)
Loans transferred into OREO from portfolio $ 0 $ 0 $ 401