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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net income $ 108,503 $ 85,122
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses and unfunded commitments, net 7,400 1,588
Net security premium amortization 9,431 9,930
Loan discount accretion (4,736) (6,199)
Other purchase accounting accretion and amortization, net (335) 98
Foreclosed property gains and write-downs, net (372) 7
Other gains, net (5,958) (1,533)
Decrease in net deferred loan fees (570) (309)
Bank-owned life insurance income (2,880) (1,945)
Depreciation of premises and equipment 5,152 4,434
Amortization of operating lease right-of-use assets 1,489 1,107
Repayments of lease obligations (1,345) (1,034)
Stock-based compensation expense 2,286 1,764
Amortization of intangible assets 2,859 2,437
Amortization and impairment of SBA servicing assets 2,239 1,605
Fees/gains from sale of presold mortgages and SBA loans (6,532) (15,895)
Origination of presold mortgage loans in process of settlement (96,589) (243,737)
Proceeds from sales of presold mortgage loans in process of settlement 114,133 277,394
Origination of SBA loans for sale (62,190) (73,510)
Proceeds from sales of SBA and other loans 109,608 72,219
Decrease in accrued interest receivable 564 850
Decrease in other assets 5,925 596
Increase in net deferred income tax asset (465) (42)
Increase (decrease) in accrued interest payable 274 (295)
Decrease in other liabilities (8,682) (3,476)
Net cash provided by operating activities 179,209 111,176
Cash Flows From Investing Activities    
Purchases of securities available for sale (354,765) (1,128,880)
Purchases of securities held to maturity (39,004) (213,485)
Proceeds from maturities/issuer calls of securities available for sale 208,438 252,668
Proceeds from maturities/issuer calls of securities held to maturity 5,158 11,246
(Purchases) redemptions of Federal Reserve and FHLB stock, net (13,826) 1,792
Purchase of bank owned life insurance 0 (25,000)
Net increase in loans (422,655) (125,083)
Proceeds from sales of foreclosed properties 2,904 2,847
Purchases of premises and equipment (3,749) (8,847)
Proceeds from sales of premises and equipment 158 218
Net cash received from sale of insurance operations 0 11,314
Bank-owned life insurance death benefits 5,827 0
Net cash used by investing activities (611,514) (1,221,210)
Cash Flows From Financing Activities    
Net increase in deposits 105,166 1,159,204
Net increase in short-term borrowings 159,000 0
Payments on long-term borrowings (99) (1,198)
Cash dividends paid – common stock (22,806) (16,527)
Repurchases of common stock 0 (4,036)
Payment of taxes related to stock withheld (603) (506)
Net cash provided by financing activities 240,658 1,136,937
(Decrease) increase in cash and cash equivalents (191,647) 26,903
Cash and cash equivalents, beginning of period 461,162 367,290
Cash and cash equivalents, end of period 269,515 394,193
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 7,425 7,447
Cash paid during the period for income taxes 29,091 25,602
Non-cash: Unrealized loss on securities available for sale, net of taxes (333,168) (12,505)
Non-cash: Foreclosed loans transferred to other real estate 119 2,249
Non-cash: Accrued dividends at end of period 7,857 7,125
Non-cash: Initial recognition of operating lease right-of-use assets and operating lease liabilities 0 2,191
Non-cash: Derecognition of intangible assets related to sale of insurance operations $ 0 $ (10,229)