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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income $ 73,612 $ 67,109 $ 51,564
Proceeds from sales of loans held for sale 131,014 92,422 138,659
Originations of loans held for sale (135,937) (83,806) (126,215)
Items not requiring (providing) cash      
Depreciation 9,557 9,118 9,120
Amortization 2,068 2,291 2,731
Compensation expense for stock option grants 922 737 564
Provision for loan losses 6,150 7,150 9,100
Net gains on loan sales (2,607) (1,788) (3,150)
Net realized (gains) losses on available-for-sale securities 62 (2) 0
Loss on sale of premises and equipment 77 193 297
(Gain) loss on sale/write-down of other real estate and repossessions 316 1,886 (449)
Gain on Sales of Business Units 0 (7,414) 0
Gain realized on termination of loss sharing agreements 0 0 (7,705)
Accretion of deferred income, premiums, discounts and other (3,899) (2,918) (1,947)
(Gain) loss on derivative interest rate products 104 (25) (28)
Deferred income taxes 1,074 (4,450) 9,423
Interest receivable (82) (1,110) (463)
Prepaid expenses and other assets (1,336) 3,002 (5,227)
Accrued expenses and other liabilities 2,725 280 1,821
Income taxes refundable/payable 2,599 11,520 (15,278)
Net cash provided by operating activities 86,419 94,195 62,817
Investing Activities      
Net change in loans (81,320) (147,945) 136,596
Purchase of loans (97,162) (128,038) (133,018)
Cash received from FDIC loss sharing reimbursements 0 0 16,246
Cash paid for sale of business units 0 (50,356) 0
Purchase of premises and equipment (11,789) (9,317) (7,404)
Proceeds from sale of premises and equipment 204 2,328 565
Proceeds from sale of other real estate and repossessions 15,244 20,426 33,640
Capitalized costs on other real estate owned (121) (153) (117)
Proceeds from maturities, calls and repayments of held-to-maturity securities 0 130 117
Proceeds from sale of available-for-sale securities 53,695 502 0
Proceeds from maturities, calls and repayments of available-for-sale securities 34,769 25,734 36,754
Purchase of available-for-sale securities (207,634) (93,378) (3,852)
Redemption (purchase) of Federal Home Loan Bank stock (1,035) (1,256) 1,852
Net cash provided by (used in) investing activities (295,149) (381,323) 81,379
Financing Activities      
Net increase (decrease) in certificates of deposit 129,748 242,955 (114,714)
Net increase (decrease) in checking and savings accounts 105,400 (53,956) 34,796
Proceeds from Federal Home Loan Bank advances 0 2,621,500 1,420,500
Repayments of Federal Home Loan Bank advances 0 (2,749,000) (1,324,435)
Increase (decrease) in short term borrowings and other interest-bearing liabilities 14,346 200,843 (188,888)
Advances from (to) borrowers for taxes and insurance 2,392 (227) 676
Purchase of the company's common stock (849) (903) 0
Dividends paid (29,052) (15,819) (12,894)
Stock options exercised 4,158 2,224 3,247
Net cash provided by (used in) financing activities 226,143 247,617 (181,712)
Increase (Decrease) in Cash and Cash Equivalents 17,413 (39,511) (37,516)
Cash and Cash Equivalents, Beginning of Year 202,742 242,253 279,769
Cash and Cash Equivalents, End of Year $ 220,155 $ 202,742 $ 242,253