XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES:    
Net Income (Loss) Attributable to Parent $ 95,146,000 $ 91,928,000
Adjustments to reconcile net income to net cash provided from operating activities:    
Depreciation 8,815,000 8,304,000
Deferred income and expense, net of amortization (1,560,000) (3,422,000)
Capitalized loan servicing rights, net of amortization 1,179,000 (282,000)
Amortization of core deposit intangibles 2,041,000 2,849,000
Loss (gain) on sale of securities, net 11,779,000 (467,000)
Net change in valuation of financial instruments carried at fair value 3,703,000 (118,000)
Gain on sale of branches, including related deposits 0 (7,804,000)
Decrease in deferred taxes (2,774,000) (5,469,000)
(Decrease) increase in current taxes payable (4,836,000) 11,935,000
Stock-based compensation 4,393,000 4,417,000
Net change in cash surrender value of BOLI (4,295,000) (3,176,000)
Gain on sale of loans, excluding capitalized servicing rights (1,815,000) (4,370,000)
Gain on disposal of real estate held for sale and property and equipment, net (311,000) (65,000)
Provision for Loan, Lease, and Other Losses 6,240,000 (2,427,000)
Loss on extinguishment of debt 0 765,000
Origination of loans held for sale (110,364,000) (299,105,000)
Proceeds from sales of loans held for sale 112,388,000 314,427,000
Net change in:    
Other assets (22,636,000) (22,956,000)
Other liabilities 15,314,000 19,475,000
Net cash provided from operating activities 117,955,000 115,377,000
INVESTING ACTIVITIES:    
Purchases of securities—available-for-sale 52,791,000 469,135,000
Principal repayments and maturities of securities—available-for-sale 93,897,000 204,222,000
Proceeds from sales of securities—available-for-sale 277,610,000 24,491,000
Purchases of securities—held-to-maturity 0 (194,897,000)
Principal repayments and maturities of securities—held-to-maturity 18,915,000 26,052,000
Loan originations, net of repayments (327,402,000) (279,298,000)
Purchases of loans and participating interest in loans 0 (75,919,000)
Proceeds from sales of other loans 1,519,000 9,962,000
Net cash received (paid) related to branch divestitures 0 (168,137,000)
Purchases of property and equipment (5,505,000) (7,414,000)
Proceeds from sale of real estate held for sale and sale of other property 358,000 5,870,000
Proceeds from FHLB stock repurchase program 79,040,000 2,000,000
Purchase of FHLB stock 87,840,000 0
Proceeds from maturity of securities purchased under agreements to resell 300,000,000 0
Investment in bank-owned life insurance (41,000) (50,043,000)
Other 517,000 3,601,000
Net cash provided from (used by) investing activities 298,277,000 (968,645,000)
FINANCING ACTIVITIES:    
(Decrease) increase in deposits, net (521,003,000) 63,833,000
Repayment of long term FHLB advances 0 50,000,000
Advances of overnight and short term FHLB advances, net 220,000,000 0
Decrease in other borrowings, net (39,780,000) (29,752,000)
Repayment of junior subordinated debentures 0 (50,518,000)
Proceeds from redemption of trust preferred securities related to junior subordinated debentures 0 1,518,000
Cash dividends paid (33,768,000) (30,967,000)
Cash paid for repurchase of common stock 0 10,960,000
Taxes paid related to net share settlement of equity awards (3,418,000) (3,339,000)
Net Cash Provided by (Used in) Financing Activities, Total (377,969,000) (110,185,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS 38,263,000 (963,453,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 243,062,000 2,134,300,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 281,325,000 1,170,847,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest paid in cash 34,698,000 8,704,000
Tax paid 20,735,000 1,540,000
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividends Payable 751,000 816,000
Loans, held-for-sale, transferred (from) to portfolio (3,964,000) (13,420,000)
Securities, available-for-sale, transferred to held-to-maturity 0 462,159,000
Fair Value of Assets Acquired 0 (1,539,000)
Liabilities Assumed $ 0 $ (178,209,000)