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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net income $ 74,457 $ 108,503
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses and unfunded commitments, net 14,864 7,400
Net security premium amortization 7,082 9,431
Decrease in net deferred tax asset (2,839) (465)
Loan discount accretion (10,354) (4,736)
Other purchase accounting amortization and accretion, net 3,241 (335)
Foreclosed property net gains (131) (372)
Other gains, net (1,402) (5,958)
Bank-owned life insurance income (3,216) (2,880)
Decrease in net deferred loan fees (1,087) (570)
Depreciation of premises and equipment 5,583 5,152
Amortization of operating lease right-of-use assets 1,559 1,489
Repayments of lease obligations (1,473) (1,345)
Stock-based compensation expense 3,972 2,286
Amortization of intangible assets 6,147 2,859
Amortization and impairment of SBA servicing assets 952 2,239
Fees/gains from sale of presold mortgages and SBA loans (3,340) (6,532)
Origination of presold mortgage loans in process of settlement (64,379) (96,589)
Proceeds from sales of presold mortgage loans in process of settlement 61,636 114,133
Origination of SBA loans for sale (43,499) (62,190)
Proceeds from sales of SBA and other loans 30,526 109,608
Decrease in accrued interest receivable 1,033 564
Decrease in other assets 3,253 5,925
Increase in accrued interest payable 2,391 274
Increase (decrease) in other liabilities 793 (8,682)
Net cash provided by operating activities 85,769 179,209
Cash Flows From Investing Activities    
Purchases of securities available for sale 0 (354,765)
Purchases of securities held to maturity 0 (39,004)
Proceeds from maturities, calls and principal repayments of securities available for sale 133,341 208,438
Proceeds from maturities, calls and principal repayments of securities held to maturity 2,807 5,158
Proceeds from sales of securities available for sale 111,863 0
Purchases of Federal Reserve and FHLB stock, net (15,790) (13,826)
Proceeds from bank owned life insurance death benefits 136 5,827
Net increase in loans (347,419) (422,655)
Proceeds from sales of foreclosed properties 554 2,904
Purchases of premises and equipment (3,201) (3,749)
Proceeds from sales of premises and equipment 59 158
Net cash received in acquisition activities 22,610 0
Net cash used by investing activities (95,040) (611,514)
Cash Flows From Financing Activities    
Net (decrease) increase in deposits (40,040) 105,166
Advances from other borrowings 1,665,000 328,000
Repayment of other borrowings (1,590,099) (169,099)
Cash dividends paid – common stock (25,902) (22,806)
Proceeds from stock option exercises 3,769 0
Payment of taxes related to stock withheld (186) (603)
Net cash provided by financing activities 12,542 240,658
Increase (decrease) in cash and cash equivalents 3,271 (191,647)
Cash and cash equivalents, beginning of period 270,318 461,162
Cash and cash equivalents, end of period 273,589 269,515
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 92,383 7,425
Cash paid during the period for income taxes 21,856 29,091
Non-cash: Unrealized loss on securities available for sale, net of taxes (58,878) (333,168)
Non-cash: Foreclosed loans transferred to other real estate 1,000 119
Non-cash: Accrued dividends at end of period 9,039 7,857
Non-cash: Initial recognition of operating lease right-of-use assets and operating lease liabilities 260 0
Non-cash: Revision of operating lease right-of-use assets and operating lease liabilities $ (562) $ 0