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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 96,951 $ 112,633 $ 118,387
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of intangibles 11,012 10,395 10,101
Provision for credit losses 29,719 13,100 23,700
Provision for credit loss for off-balance sheet credit exposure 1,814 0 0
Deferred tax expense (benefit) (7,929) 1,674 (18,541)
Amortization of operating lease right-of-use assets 9,012 8,433 0
Income on Bank-owned life insurance (6,491) (6,297) (5,514)
Net amortization of premiums and discounts on securities 10,058 7,789 8,540
Accretion of net deferred loan fees (9,492) (5,643) (5,773)
Amortization of premiums on purchased loans, net 1,032 845 894
Net increase in loans originated for sale (87,413) (16,212) (36,043)
Proceeds from sales of loans originated for sale 89,126 17,202 37,386
Proceeds from sales and paydowns of foreclosed assets 3,610 1,354 7,963
ESOP expense 2,401 4,533 4,516
Allocation of stock award shares 5,330 6,671 6,046
Allocation of stock options 189 181 190
Net gain on sale of loans (1,713) (990) (1,343)
Net gain on securities transactions (81) (72) (2,221)
Net gain on sale of premises and equipment (947) 0 (25)
Net gain on sale of foreclosed assets (821) (190) (798)
Decrease (increase) in accrued interest receivable 8,472 2,444 (1,829)
(Increase) decrease in other assets (106,811) (46,237) 5,266
Increase in other liabilities 59,883 25,312 4,817
Net cash provided by operating activities 106,911 136,925 155,719
Cash flows from investing activities:      
Proceeds from maturities, calls and paydowns of held to maturity debt securities 62,051 42,696 39,534
Purchases of held to maturity debt securities (49,228) (20,303) (43,887)
Proceeds from sales of available for sale debt securities 13,905 0 2,212
Proceeds from maturities, calls and paydowns of available for sale debt securities 350,335 223,806 196,690
Purchases of available for sale debt securities (248,863) (117,022) (237,076)
Proceeds from redemption of Federal Home Loan Bank stock 115,630 172,293 145,191
Purchases of Federal Home Loan Bank stock (106,605) (160,778) (132,820)
BOLI claim benefits received 6,527 1,891 1,954
Cash received, net of cash consideration paid for acquisition 78,089 (15,022) 0
Purchases of loans 0 0 (1,344)
Net (increase) decrease in loans (717,947) (79,812) 79,388
Proceeds from sales of premises and equipment 947 0 25
Purchases of premises and equipment (12,825) (4,882) (3,162)
Net cash provided by (used in) investing activities (507,984) 42,867 46,705
Cash flows from financing activities:      
Net increase in deposits 977,442 272,487 115,956
Increase (decrease) in mortgage escrow deposits 7,494 1,236 (365)
Purchase of treasury stock (21,161) (19,867) (13,172)
Purchase of employee restricted shares to fund statutory tax withholding (969) (1,985) (1,896)
Cash dividends paid to stockholders (65,823) (72,809) (53,604)
Shares issued to dividend reinvestment plan 451 2,230 1,709
Stock options exercised 0 139 1,007
Proceeds from long-term borrowings 2,429,999 1,243,000 695,000
Payments on long-term borrowings (2,286,722) (1,549,551) (804,375)
Net (decrease) increase in short-term borrowings (294,033) (10,585) (190,857)
Net cash (used in) provided by financing activities 746,678 (135,705) (250,597)
Net increase (decrease) in cash and cash equivalents 345,605 44,087 (48,173)
Cash and cash equivalents at beginning of period 186,748 142,661 190,834
Cash and cash equivalents at end of period 532,353 186,748 142,661
Cash paid during the period for:      
Interest on deposits and borrowings 49,419 73,664 58,959
Income taxes 36,514 34,494 15,259
Non cash investing activities:      
Initial recognition of operating lease right-of-use assets 0 44,946  
Initial recognition of operating lease liabilities 0 46,050  
Transfer of loans receivable to foreclosed assets 2,516 2,314 1,965
Non-cash assets acquired at fair value:      
Investment securities 255,242 0 0
Loans, net 1,752,529 0 0
Bank-owned life insurance 37,237 0 0
Goodwill and other intangible assets, net 32,404 21,562 0
Bank premises and equipment 16,620 0 0
Other assets 23,587 71 0
Total non-cash assets acquired at fair value 2,117,619 $ 21,633 0
Liabilities assumed:      
Deposits 1,757,777    
Borrowings and subordinated debt $ 226,656    
Other Liabilities     30,447
Total liabilities assumed     2,014,880
Common stock issued for acquisitions     $ 180,828