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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 $ 51,853 $ 14,628
Adjustments to reconcile net income to net cash provided by operating activities    
Provision (recapture) for credit losses (800) 41,500
Stock-based compensation expense 3,028 2,172
Depreciation, amortization and accretion 1,433 13,151
Investment securities gain, net 0 249
Net realized (gain) loss on sale of premises and equipment, loans held for investment and OPPO (6) 25
Net realized gain on sale and valuation adjustments of OREO 100 0
Gain on bank owned life insurance death benefit 209 0
Originations of loans held for sale 107,104 58,199
Proceeds from sales of loans held for sale 107,320 66,216
Increase (Decrease) in Mortgage Loans Held-for-sale 89 0
Net change in:    
Interest receivable 2,164 2,262
Interest payable 494 2,325
Other assets 11,525 (63,141)
Other liabilities (10,627) 44,725
Net cash provided by operating activities 59,072 65,365
Cash Flows From Financing Activities    
Loans originated, net of principal collected (164,856) (197,362)
Purchases of debt securities available for sale (608,854) (37,472)
Purchases of loans held for investment 74,383 0
Purchases of premises and equipment (805) (1,650)
Purchases of FHLB stock 0 (51,240)
Proceeds from sale of debt securities, available-for-sale 0 194,105
Proceeds from principal repayments and maturities of debt securities available for sale 180,380 134,641
Proceeds from sales of premises and equipment 0 31
Proceeds from redemption of Federal Home Loan Bank stock 0 61,080
Proceeds from sales of other real estate and other personal property owned 132 50
Proceeds from bank owned life insurance death benefit 671 1,050
Net cash provided by (used in) investing activities (667,715) 103,233
Cash Flows From Financing Activities    
Net increase in deposits 897,604 128,059
Net decrease in sweep repurchase agreements (35,235) (35,185)
Proceeds from FHLB advances 0 1,281,000
Proceeds from FRB borrowings 0 182,010
Proceeds from other borrowings 0 5,000
Proceeds from exercise of stock options and employee stock purchase plan 1,098 945
Repayment of FHLB advances 0 (1,527,000)
Repayment of FRB borrowings 0 177,010
Payments for common stock dividends (20,110) (35,860)
Purchase of treasury stock 0 (20,000)
Purchase and retirement of common stock 3,995 2,474
Net cash provided by (used in) financing activities 839,362 (200,515)
Increase (decrease) in cash and cash equivalents 230,719 (31,917)
Cash and cash equivalents at beginning of period 653,766 247,673
Cash and cash equivalents at end of period 884,485 215,756
Supplemental Information:    
Cash paid for interest 1,553 6,150
Income Taxes Paid, Net (1) 12
Non-cash investing and financing activities    
Premises and equipment expenditures incurred but not yet paid 43 238
Change in dividends payable on unvested shares included in other liabilities $ (49) $ 157