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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income   $ 60,582 $ 57,408 $ 43,120
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation   5,333 5,225 4,451
Provision for loan/lease losses $ 979 55,704 7,066 12,658
Deferred income taxes   (14,530) 6,364 6,292
Stock-based compensation expense   2,150 2,469 1,443
Deferred compensation expense accrued   3,821 2,773 1,824
Losses (gains) on other real estate owned, net   (317) 3,361 2,585
Amortization of premiums on securities, net   969 1,561 1,614
Caplet amortization   551    
Securities (gains) losses, net   (2,484) 30  
Loans originated for sale   (236,734) (151,692) (57,698)
Proceeds on sales of loans   241,553 152,633 58,353
Gains on sales of residential real estate loans   (4,680) (2,571) (901)
Gains on sales of government guaranteed portions of loans   (224) (748) (405)
Loss on liability extinguishment, net   3,907 436  
Losses (gains) on sales of premises and equipment   (19) 753  
Amortization of intangibles   2,149 2,266 1,692
Accretion of acquisition fair value adjustments, net   (3,271) (4,344) (5,527)
Increase in cash value of bank-owned life insurance   (1,904) (1,973) (1,632)
Loss (gain) on sale of subsidiary/certain assets and liabilities of subsidiary   158 (12,286)  
Goodwill impairment   500 3,000  
Decrease (increase) in other assets   12,802 (19,152) (11,137)
Increase (decrease) in other liabilities   (13,839) 23,915 7,539
Net cash provided by operating activities   112,177 76,494 64,271
CASH FLOWS FROM INVESTING ACTIVITIES        
Net decrease in federal funds sold   720 16,598 3,799
Net decrease (increase) in interest-bearing deposits at financial institutions   61,295 (69,984) (14,508)
Proceeds from sales of other real estate owned   4,477 840 2,539
Activity in securities portfolio:        
Purchases   (356,127) (71,963) (84,045)
Calls, maturities and redemptions   53,007 25,193 23,931
Paydowns   47,313 50,830 44,287
Sales   38,562 30,055 1,938
Activity in restricted investment securities:        
Purchases   (4,600) (5,859) (5,409)
Redemptions   9,749 7,621 3,157
Proceeds from the liquidation of assets held for sale   10,999    
Net increase in loans/leases originated and held for investment   (564,748) (320,368) (292,697)
Purchase of premises and equipment   (4,268) (12,429) (11,457)
Proceeds from sales of premises and equipment   101 2,562  
Purchase of derivatives     (4,347)  
Payment for termination of derivative   (808)    
Net cash received (transferred) for sale of subsidiary/certain assets and liabilities of subsidiary   (154) 42,587  
Net cash paid for acquisition       (5,183)
Net cash (used in) investing activities   (704,482) (308,664) (333,648)
CASH FLOWS FROM FINANCING ACTIVITIES        
Net increase in deposit accounts   658,592 335,580 271,266
Net increase (decrease) in short-term borrowings   (7,993) (14,193) 13,638
Activity in Federal Home Loan Bank advances:        
Term advances   125,000 25,000 15,080
Calls and maturities   (121,600) (35,000) (40,000)
Net change in short-term and overnight advances   (94,300) (52,465) 24,765
Prepayments   (55,274) (30,323)  
Activity in other borrowings:        
Proceeds from other borrowings       9,000
Calls, maturities and scheduled principal payments     (11,937) (12,550)
Prepayments     (46,313)  
Paydown of revolving line of credit     (9,000)  
Prepayments on brokered and public time deposits   29,153    
Proceeds from subordinated notes   50,000 63,393  
Payment of cash dividends on common stock   (3,779) (3,767) (3,300)
Proceeds from issuance of common stock, net   1,360 1,926 1,279
Repurchase and cancellation of shares   (3,779)    
Net cash provided by financing activities   577,380 222,901 279,178
Net increase (decrease) in cash and due from banks   (14,925) (9,269) 9,801
Cash and due from banks, beginning   76,254 85,523 75,722
Cash and due from banks, ending 76,254 61,329 76,254 85,523
Supplemental disclosure of cash flow information, cash payments for:        
Interest   32,178 59,292 38,782
Income/franchise taxes   24,567 2,719 30
Supplemental schedule of noncash investing activities:        
Change in accumulated other comprehensive income, unrealized gains on securities available for sale and derivative instruments, net   2,474 4,446 (3,206)
Exchange of shares of common stock in connection with payroll taxes for restricted stock and in connection with stock options exercised   (740) (218) (876)
Transfers of loans to other real estate owned   51 1,086 943
Increase in the fair value of back-to-back interest rate swap assets and liabilities   137,752 62,483 17,798
Dividends payable   947 947 939
Transfer of equity securities from securities available for sale to other assets at fair value       2,614
Assets Sold:        
Total assets sold 11,966   11,966  
Liabilities Sold:        
Total liabilities sold 5,003   5,003  
Gain (loss) on sale of subsidiary and certain assets and certain liabilities of subsidiary:   (158) 12,286  
Fair value of assets acquired:        
Cash and due from banks       4,651
Interest-bearing deposits at financial institutions       62,924
Securities       4,845
Loans receivable, net       477,337
Bank-owned life insurance       7,092
Premises and equipment, net       6,092
Restricted investment securities       3,654
Intangibles       10,064
Other assets       2,255
Total assets acquired       578,914
Fair value of liabilities assumed:        
Deposits       439,579
Short-term borrowings       1,143
FHLB advances       74,540
Other borrowings       9,544
Other liabilities       8,878
Total liabilities assumed       533,684
Net assets acquired       45,230
Consideration paid:        
Cash paid       9,834
Promissory note       1,500
Contingent commitment       2,000
Common stock       81,637
Total consideration paid       94,971
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]        
Goodwill       49,741
RB&T        
Activity in restricted investment securities:        
Net cash received (transferred) for sale of subsidiary/certain assets and liabilities of subsidiary     42,600  
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Bates Companies        
Adjustments to reconcile net income to net cash provided by operating activities:        
Loss (gain) on sale of subsidiary/certain assets and liabilities of subsidiary   158 (12,286)  
Activity in restricted investment securities:        
Net cash transferred in sale of subsidiary   (154)    
Supplemental schedule of noncash investing activities:        
Consideration received on sale of the Bates Companies   1,523    
Supplemental disclosure of cash flow information for sale of subsidiary/certain assets and certain liabilities of subsidiary:        
Cash proceeds   195 46,560  
Assets Sold:        
Cash and due from banks 3,973 349 3,973  
Interest-bearing deposits at financial institutions 55,291   55,291  
Securities held to maturity, at amortized cost 3,243   3,243  
Securities available for sale, at fair value 21,874   21,874  
Loans/leases receivable held for investment, net 357,931   357,931  
Premises and equipment, net 5,612 19 5,612  
Restricted investment securities 675   675  
Other real estate owned, net 2,134   2,134  
Other assets 3,228 2,259 3,228  
Total assets sold 453,961 2,627 453,961  
Liabilities Sold:        
Noninterest-bearing deposits 69,802   69,802  
Interest-bearing deposits 331,486   331,486  
Short-term borrowings 1,158   1,158  
Federal Home Loan Bank advances 15,000   15,000  
Other liabilities 2,241 946 2,241  
Total liabilities sold 419,687 946 419,687  
Net assets sold $ 34,274 1,681 34,274  
Forgiveness of earn-out consideration   880    
Note receivable consideration   448    
Gain (loss) on sale of subsidiary and certain assets and certain liabilities of subsidiary:   (158) 12,286  
Springfield Bancshares        
Consideration paid:        
Cash paid       3,700
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]        
Goodwill       45,975
Bates Companies        
Adjustments to reconcile net income to net cash provided by operating activities:        
Goodwill impairment   $ 500 $ 3,000  
Consideration paid:        
Cash paid       1,400
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]        
Goodwill       $ 3,766