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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities    
Net income $ 34,532,000 $ 46,144,000
Reconciliation of net income to net cash provided by operating activities:    
Provision for loan losses 24,888,000 192,000
Net security premium amortization 1,605,000 1,104,000
Loan discount accretion (3,234,000) (3,149,000)
Other purchase accounting accretion and amortization, net 32,000 (18,000)
Foreclosed property losses and write-downs, net 194,000 626,000
Gains on securities available for sale (8,024,000) 0
Other losses 113,000 226,000
Decrease (increase) in net deferred loan costs 8,789,000 (485,000)
Depreciation of premises and equipment 2,963,000 2,886,000
Amortization of operating lease right-of-use assets 1,010,000 911,000
Repayments of lease obligations (920,000) (1,198,000)
Stock-based compensation expense 1,408,000 1,202,000
Amortization of intangible assets 2,033,000 2,574,000
Amortization of SBA servicing assets 1,416,000 621,000
Fees/gains from sale of presold mortgages and SBA loans (7,473,000) (6,533,000)
Origination of presold mortgage loans in process of settlement (170,961,000) (53,390,000)
Proceeds from sales of presold mortgage loans in process of settlement 165,223,000 52,878,000
Origination of SBA loans for sale (58,396,000) (91,323,000)
Proceeds from sales of SBA loans 45,306,000 73,313,000
Increase in accrued interest receivable 3,295,000 905,000
(Increase) decrease in other assets (8,206,000) 80,000
(Decrease) increase in accrued interest payable (629,000) 282,000
Increase (decrease) in other liabilities 16,123,000 (1,382,000)
Net cash provided by operating activities 44,497,000 24,656,000
Cash Flows From Investing Activities    
Purchases of securities available for sale (252,256,000) (256,609,000)
Purchases of securities held to maturity (50,272,000) 0
Proceeds from maturities/issuer calls of securities available for sale 91,976,000 82,952,000
Proceeds from maturities/issuer calls of securities held to maturity 22,907,000 21,725,000
Proceeds from sales of securities available for sale 219,697,000 0
Redemptions of FRB and FHLB stock, net 7,754,000 4,207,000
Net increase in loans (311,493,000) (67,139,000)
Proceeds from sales of foreclosed properties 1,354,000 3,262,000
Purchases of premises and equipment (4,428,000) (1,968,000)
Proceeds from sales of premises and equipment 192,000 240,000
Net cash used by investing activities (274,569,000) (213,330,000)
Cash Flows From Financing Activities    
Net increase in deposits 899,841,000 183,823,000
Net increase (decrease) in short-term borrowings (98,000,000) (55,000,000)
Proceeds from long-term borrowings 150,000,000 0
Payments on long-term borrowings (240,562,000) (50,559,000)
Cash dividends paid – common stock (10,563,000) (6,542,000)
Repurchases of common stock (22,432,000) (6,524,000)
Proceeds from stock option exercises 0 129,000
Payment of taxes related to stock withheld 0 (91,000)
Net cash provided by financing activities 678,284,000 65,236,000
Increase (decrease) in cash and cash equivalents 448,212,000 (123,438,000)
Cash and cash equivalents, beginning of period 231,302,000 462,898,000
Cash and cash equivalents, end of period 679,514,000 339,460,000
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 12,919,000 16,705,000
Cash paid during the period for income taxes 1,110,000 13,196,000
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes 18,128,000 13,510,000
Non-cash: Foreclosed loans transferred to other real estate 662,000 1,555,000
Non-cash: Initial recognition of operating lease right-of-use assets 0 19,406,000
Non-cash: Initial recognition of operating lease liabilities 0 19,406,000
Non-cash: Equity issued related to acquisition earn-out $ 0 $ 3,070,000