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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 56,595 $ (9,129)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
(Reversal of) provision for credit losses (4,408) 28,728
Reversal of provision for loan repurchases (273) (725)
Depreciation on premises and equipment 11,414 12,378
Amortization of intangible assets 846 1,212
Amortization of debt issuance costs 1,283 537
Net amortization of premium on securities 1,184 676
Net accretion of deferred loan costs and fees (3,430) (2,007)
Net amortization (accretion) of premiums (discounts) on purchased loans 2,367 (361)
Write-off of other assets related to naming rights termination, net 0 6,669
Debt extinguishment fee 0 2,515
Deferred income tax benefit (3,476) (2,553)
Bank owned life insurance income (2,077) (1,798)
Share-based compensation expense 3,988 4,392
(Income) loss on interest rate swaps (240) 285
Loss on investments in alternative energy partnerships and affordable housing investments 4,130 4,327
Impairment on capitalized software projects 0 157
Fair value adjustment for loans held-for-sale (180) 1,537
Net gain on sale of loans 0 (245)
Net gain on sale of securities available-for-sale 0 (2,011)
Gain on sale-leaseback of branch (841) 0
Loss on disposal of property and equipment 4 106
Repurchase of mortgage loans (1,852) 0
Proceeds from sales of and principal collected on loans held-for-sale 23 18,853
Change in accrued interest receivable and other assets 5,063 (673)
Change in accrued interest payable and other liabilities 5,579 (24,273)
Net cash provided by operating activities 75,699 38,597
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 0 22,727
Proceeds from maturities and calls of securities available-for-sale 120,230 30,000
Proceeds from principal repayments of securities available-for-sale 22,499 5,075
Purchases of securities available-for-sale (226,813) (371,092)
Loan originations and principal collections, net 281,951 427,308
Purchases of loans (615,359) (154,864)
Redemption of Federal Home Loan Bank stock 436 23,972
Purchases of Federal Home Loan Bank and other bank stock (534) (9,361)
Proceeds from sale of other real estate owned 3,618 1,078
Purchases of premises and equipment (2,256) (4,547)
Proceeds from sale-leaseback of branch 3,913 0
Payments of capital lease obligations (103) (398)
Funding of equity investment (6,320) (17,346)
Decrease (increase) in investments in alternative energy partnerships 1,765 (2,019)
Net cash used in investing activities (416,973) (49,467)
Cash flows from financing activities:    
Net increase in deposits 457,425 605,099
Net decrease in short-term Federal Home Loan Bank advances (135,000) (505,000)
Repayment of long-term Federal Home Loan Bank advances 0 (235,000)
Proceeds from long-term Federal Home Loan Bank advances 0 111,000
Debt extinguishment and financing fees paid 0 (9,368)
Net increase in other borrowings 100,000 0
Redemption of preferred stock (93,269) (4,379)
Purchase of treasury stock 0 (12,041)
Proceeds from exercise of stock options 300 0
Purchase of stock surrendered to pay tax liability (7,505) (829)
Dividend equivalents paid on participating securities 0 (282)
Dividends paid on preferred stock (6,595) (10,422)
Dividends paid on common stock (9,061) (8,890)
Net cash provided by (used in) financing activities 306,295 (70,112)
Net change in cash and cash equivalents (34,979) (80,982)
Cash and cash equivalents at beginning of period 220,819 373,472
Cash and cash equivalents at end of period 185,840 292,490
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 25,133 52,577
Income taxes paid 11,975 758
Supplemental disclosure of non-cash activities    
Transfer from loans to other real estate owned, net 3,253 1,116
Equipment acquired under capital leases 256 30
Operating lease right-of-use assets recognized 14,172 (960)
Operating lease liabilities recognized 14,172 960
Impact of adoption of ASU 2016-13 on retained earnings 844,803 874,254
Receivable on unsettled securities sales 40,500 0
Due on unsettled securities purchases $ 25,000 $ 0