XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income $ 73,384 $ 46,852  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses (13,558) 25,000  
Provision for losses on other real estate owned 0 336  
Deferred tax provision 6,135 (149)  
Depreciation and amortization 2,044 1,797  
Amortization of right-of-use asset 2,221 2,115  
Change in operating lease liabilities 2,319 (1,083)  
Net gains on sale and transfer of other real estate owned 0 (4,538)  
Net gains on sale of loans (289) (3)  
Proceeds from sales of loans 6,345 239  
Originations of loans held for sale (6,056) (236)  
Amortization on alternative energy partnerships, venture capital and other investments 11,641 13,923  
Net gain on sales and calls of securities (853) (6)  
Amortization/accretion of security premiums/discounts, net 2,282 1,676  
Loss on sales or disposal of fixed assets 22 0  
Unrealized loss on equity securities 2,752 6,102  
Stock based compensation and stock issued to officers as compensation 1,243 1,543  
Net change in accrued interest receivable and other assets 11,863 4,126  
Net change in other liabilities (9,924) (2,661)  
Net cash provided by operating activities 91,571 95,033  
Cash Flows from Investing Activities      
Purchase of investment securities available-for-sale (50,450) (89,989)  
Proceeds from sale of investment securities available-for-sale 21,102 74,935  
Proceeds from sale of equity securities 0 3,113  
Proceeds from repayments, maturities and calls of investment securities available-for-sale 148,685 126,878  
Redemptions of Federal Home Loan Bank stock 0 840  
Net increase in loans (15,246) (458,616)  
Purchase of premises and equipment (760) (867)  
Proceeds from sales of other real estate owned 0 881  
Net increase in investment in affordable housing and alternative energy partnerships (5,950) (18,696)  
Net cash used for investing activities 97,381 (361,521)  
Cash Flows from Financing Activities      
Net increase in deposits 244,327 397,669  
Advances from Federal Home Loan Bank 50,000 1,065,000  
Repayment of Federal Home Loan Bank borrowings (125,000) (1,240,000)  
Cash dividends paid (24,650) (24,659)  
Repayment of other borrowings 0 58  
Purchases of treasury stock 0 (12,880)  
Repayment of short-term borrowings 0 (12,785)  
Proceeds from shares issued under Dividend Reinvestment Plan 868 846  
Taxes paid related to net share settlement of RSUs (1,279) (523)  
Net cash provided by financing activities 144,266 172,726  
Decrease in cash, cash equivalents, and restricted cash 333,218 (93,762)  
Cash, cash equivalents, and restricted cash, beginning of the period 1,421,078 593,778 $ 593,778
Cash, cash equivalents, and restricted cash, end of the period 1,754,296 500,016 $ 1,421,078
Supplemental disclosure of cash flow information      
Interest 25,872 51,248  
Income taxes paid 2,891 2,642  
Non-cash investing and financing activities:      
Net change in unrealized holding loss on securities available-for-sale, net of tax (4,887) 11,853  
Net change in unrealized holding loss on cash flow hedge derivatives $ 1,263 $ (4,278)