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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 $ 52,814 $ 20,040  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,801 7,100  
Provision (benefit) for credit losses (648) 21,520  
Net amortization of premium on securities 8,991 3,685  
Securities (gains)/losses, net 30 (1,658)  
Unrealized loss on equity securities, net 110 231  
Stock based compensation 2,760 2,222  
Loans originated for sale (124,380) (91,974)  
Proceeds on sales of loans held for sale 145,200 100,425  
Net gains on sale of loans held for sale (5,908) (4,660)  
(Increase) decrease in accrued interest receivable 26 (667)  
Increase in prepaid expenses (578) (157)  
Increase in accrued interest payable 236 316  
Capitalization of servicing rights (512) (414)  
Valuation adjustment on servicing rights (917) 1,565  
Loss on sales/valuations of assets, net 194 16  
Net excess tax benefit (expense) from stock based compensation 153 (25)  
Other, net (17,816) (40,513)  
NET CASH PROVIDED BY OPERATING ACTIVITIES 66,556 17,052  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of time deposits in other financial institutions (9) (4)  
Proceeds from the sale of securities available for sale 207,067 328,890  
Proceeds from the maturity of and principal paydowns on securities available for sale 159,773 92,413  
Proceeds from the maturity of and principal paydowns on securities held to maturity 3,909 55  
Proceeds from the maturity of time deposits in other financial institutions 0 150  
Proceeds from the sale, maturity of and principal paydowns on other investments 1,003 5,613  
Purchase of securities available for sale (709,690) (627,246)  
Purchase of other investments (685) (9,662)  
Net increase in loans (29,674) (5,568)  
Purchase of bank owned life insurance policies (22) (39)  
Capital expenditures (3,776) (3,723)  
Proceeds from the sale of equipment 1,311 0  
Proceeds on sale of OREO and other repossessed assets 1,209 1,019  
NET CASH USED BY INVESTING ACTIVITIES (369,584) (218,102)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand deposits 487,136 153,111  
Net increase in savings deposits 159,547 59,185  
Net decrease in time deposit accounts (67,537) (82,602)  
Net decrease in short-term borrowings (27,275) (34,987)  
Proceeds from short term advances 0 491,545  
Repayments of short term advances 0 (517,742)  
Proceeds from other borrowings 0 1,930  
Repayments of other borrowings (107,807) (1,832)  
Proceeds from issuance of common stock 196 804  
Dividends paid (11,273) (7,353)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 432,987 62,059  
Net increase (decrease) in cash and cash equivalents 129,959 (138,991)  
Cash and cash equivalents at beginning of year 337,903 378,734 $ 378,734
CASH AND CASH EQUIVALENTS AT END OF PERIOD 467,862 239,743 $ 337,903
Supplemental disclosures:      
Cash paid for income/franchise taxes 15,744 12  
Cash paid for interest 7,611 18,222  
Loans transferred to OREO 585 245  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale 1,140 0  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net 6 0  
Dividends declared, not paid 2,013 0  
Purchases of securities available for sale, accrued, not settled 0 14,035  
Transfer of available for sale securities to held to maturity securities $ 0 $ 462