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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net income $ 33,969 $ 28,194
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses 2,000 0
Net security premium amortization 3,437 2,876
Loan discount accretion (1,671) (1,341)
Other purchase accounting accretion and amortization, net (172) 29
Foreclosed property (gains) losses and write-downs, net (80) 157
Other (gains) losses, net (1,622) 34
(Decrease) increase in net deferred loan fees (776) 2,845
Bank-owned life insurance income (976) (620)
Depreciation of premises and equipment 1,726 1,448
Amortization of operating lease right-of-use assets 339 517
Repayments of lease obligations (289) (416)
Stock-based compensation expense 547 397
Amortization of intangible assets 1,017 897
Amortization of SBA servicing assets 626 470
Fees/gains from sale of presold mortgages and SBA loans (4,382) (6,874)
Origination of presold mortgage loans in process of settlement (46,488) (112,592)
Proceeds from sales of presold mortgage loans in process of settlement 60,860 127,346
Origination of SBA loans for sale (39,807) (37,359)
Proceeds from sales of SBA and other loans 88,895 32,467
Decrease in accrued interest receivable 1,168 1,620
Decrease (increase) in other assets 3,509 (5,242)
Decrease (increase) in net deferred income tax asset 1,160 (4,596)
Decrease in accrued interest payable (31) (163)
(Decrease) increase in other liabilities (2,816) 639
Net cash provided by operating activities 100,143 30,733
Cash Flows From Investing Activities    
Purchases of securities available for sale (330,147) (475,960)
Purchases of securities held to maturity (36,089) (37,438)
Proceeds from maturities/issuer calls of securities available for sale 91,421 80,650
Proceeds from maturities/issuer calls of securities held to maturity 2,684 5,780
(Purchases) redemptions of FRB and FHLB stock, net (9,818) 1,836
Net decrease in loans 29,927 110,212
Proceeds from sales of foreclosed properties 520 1,183
Purchases of premises and equipment (1,217) (4,534)
Proceeds from sales of premises and equipment 99 218
Bank-owned life insurance death benefits 3,595 0
Net cash used by investing activities (249,025) (318,053)
Cash Flows From Financing Activities    
Net increase in deposits 260,752 459,906
Payments on long-term borrowings (33) (531)
Cash dividends paid – common stock (7,123) (5,140)
Repurchases of common stock 0 (4,036)
Payment of taxes related to stock withheld (117) (103)
Net cash provided by financing activities 253,479 450,096
Increase in cash and cash equivalents 104,597 162,776
Cash and cash equivalents, beginning of period 461,162 367,290
Cash and cash equivalents, end of period 565,759 530,066
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 2,422 2,934
Cash paid during the period for income taxes 0 9,585
Non-cash: Unrealized loss on securities available for sale, net of taxes (140,019) (18,666)
Non-cash: Foreclosed loans transferred to other real estate 119 727
Non-cash: Accrued dividends at end of period 7,839 5,688
Non-cash: Initial recognition of operating lease right-of-use assets and operating lease liabilities $ 0 $ 444