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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income     $ 71,896 $ 42,311  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation     4,087 4,006  
Provision for credit losses   $ 20,342 6,713 48,624  
Stock-based compensation expense     1,865 1,536  
Deferred compensation expense accrued     3,288 2,660  
Gains on other real estate owned, net     (1,754) (298)  
Amortization of premiums on securities, net     1,506 728  
Caplet amortization     495 383  
Mark to market gains on unhedged derivatives, net     (74)    
Securities (gains) losses, net     88 (1,867)  
Loans originated for sale     (157,392) (172,282)  
Proceeds on sales of loans     161,173 170,362  
Gains on sales of residential real estate loans $ (954) (1,370) (3,475) (3,218)  
Loss on liability extinguishment, net   1,874   2,450  
Losses (gains) on sales and disposals of premises and equipment     1,457 (13)  
Amortization of intangibles 508 531 1,524 1,628  
Accretion of acquisition fair value adjustments, net     (1,251) (2,194)  
Increase in cash value of bank-owned life insurance     (1,369) (1,443)  
Loss on sale of subsidiary/certain assets and liabilities of subsidiary   (305)   (305)  
Goodwill impairment       500  
Increase in other assets     (37,630) (8,351)  
Decrease in other liabilities     13,161 43,489  
Net cash provided by operating activities     64,308 129,316  
CASH FLOWS FROM INVESTING ACTIVITIES          
Net decrease in federal funds sold     2,095 9,270  
Net decrease (increase) in interest-bearing deposits at financial institutions     22,755 (154,247)  
Proceeds from sales of other real estate owned     4,592 4,353  
Activity in securities portfolio:          
Purchases     (151,702) (255,500)  
Calls, maturities and redemptions     81,000 38,461  
Paydowns     50,177 33,870  
Sales     23,874 28,579  
Activity in restricted investment securities:          
Purchases     (4,280) (4,600)  
Redemptions     2,447 8,843  
Proceeds from the liquidation of bank-owned life insurance       10,999  
Net increase in loans/leases originated and held for investment     (353,616) (555,315)  
Purchase of premises and equipment     (7,866) (2,250)  
Proceeds from sales of premises and equipment     22 94  
Net cash transferred In sale of subsidiary       (349)  
Net cash used in investing activities     (330,502) (837,792)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Net increase in deposit accounts     272,691 731,374  
Net increase (decrease) in short-term borrowings     (3,830) 17,007  
Activity in Federal Home Loan Bank advances:          
Term advances       125,000  
Calls and maturities       (81,600)  
Net change in short-term and overnight advances     15,000 (109,300)  
Activity in other borrowings:          
Prepayments       (55,274)  
Prepayments of subordinated notes     (5,000)    
Proceeds from subordinated notes       50,000  
Payment of cash dividends on common stock     (2,847) (2,831)  
Proceeds from issuance of common stock, net     328 1,199  
Repurchase and cancellation of shares     (14,167) (3,780)  
Net cash provided by financing activities     262,175 701,154  
Net increase (decrease) in cash and due from banks     (4,019) (7,322)  
Cash and due from banks, beginning     61,329 76,254 $ 76,254
Cash and due from banks, ending $ 57,310 $ 68,932 57,310 68,932 $ 61,329
Supplemental disclosure of cash flow information, cash payments for:          
Interest     18,617 26,920  
Income/franchise taxes     36,987 16,713  
Supplemental schedule of noncash investing activities:          
Change in accumulated other comprehensive income, unrealized losses on securities available for sale and derivative instruments, net     (118) (683)  
Transfers of loans to other real estate owned     2,812 51  
Due to broker for purchases of securities       8,550  
Increase (decrease) in the fair value of back-to-back interest rate swap assets and liabilities     (25,503) 151,398  
Dividends payable     $ 946 945  
Consideration received on sale of the Bates Companies       $ 1,328