XML 25 R9.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 74,384 $ 92,739 $ 89,217
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 6,152 5,719 3,532
Provision for credit losses 65,398 6,372 6,644
Deferred income taxes (12,578) 5,800 3,307
Net amortization of debt securities 6,745 2,973 1,691
Amortization of intangible assets 5,673 5,543 2,503
Mortgage loans originated-for-sale (223,094) (81,941) (36,229)
Proceeds from mortgage loans sold 217,934 77,302 39,310
Gain on sale of investment securities (421) 49 (9)
Sale of other real estate 13 (113) (13)
Sale of state tax credits (2,016) (2,549) (2,820)
Share-based compensation 4,178 4,032 3,452
Net accretion of loan discount (7,767) (10,494) (1,700)
Changes in other assets and liabilities, net 913 (12,975) (77)
Net cash provided by operating activities 135,514 92,457 108,808
Cash flows from investing activities:      
Net cash paid for acquisitions and dispositions 62,114 (23,377) 0
Net increase in loans (700,096) (284,235) (257,872)
Sale of debt securities, available-for-sale 20,221 357,976 1,451
Paydown or maturity of debt securities, available-for-sale 329,350 146,132 84,189
Paydown or maturity of debt securities, held-to-maturity 41,377 7,447 6,397
Redemption of other investments 43,555 61,917 50,274
Sale of state tax credits held-for-sale 14,252 14,689 14,718
Sale of other real estate 652 4,798 875
Settlement of bank-owned life insurance policies 1,993 0 1,256
Payments for the purchase of:      
Available for sale debt securities (452,541) (577,211) (172,026)
Other investments (50,421) (68,963) (51,828)
State tax credits held-for-sale (11,026) (11,356) (6,017)
Fixed assets (2,259) (6,337) (3,035)
Net cash used in investing activities (702,829) (378,520) (331,618)
Cash flows from financing activities:      
Net increase (decrease) in noninterest-bearing deposit accounts 627,756 57,551 (23,189)
Net increase in interest-bearing deposit accounts 505,604 44,300 454,760
Proceeds from the issuance of subordinated notes 61,953 0 0
Proceeds (repayments) from short-term FHLB advances, net (172,300) 95,500 (102,500)
Proceeds from long-term FHLB advances 0 50,000 0
Repayment of PPPLF advances (86,096) 0 0
Proceeds from Notes Payable 0 41,000 2,000
Repayments of Notes Payable (4,286) (8,714) 0
Net increase (decrease) in other borrowings 40,195 9,436 (32,224)
Cash dividends paid on common stock (19,795) (16,568) (10,845)
Payments for Repurchase of Common Stock (15,347) (15,526) (19,387)
Payments for Repurchase of Equity 78 (212) (2,576)
Net cash provided by financing activities 937,762 256,767 266,039
Net (decrease) increase in cash and cash equivalents 370,447 (29,296) 43,229
Cash and cash equivalents, beginning of period 167,256 196,552 153,323
Cash and cash equivalents, end of period 537,703 167,256 196,552
Supplemental disclosures of cash flow information:      
Cash paid during the period for interest 35,423 65,667 45,650
Cash paid during the period for income taxes 7,514 13,582 10,136
Noncash transactions:      
Real Estate Owned, Transfer to Real Estate Owned 798 8,148 876
Sales of other real estate financed 48 621 0
Transfer of securities from available-for-sale to held-to-maturity 352,665 116,303 0
Transfer from fixed assets to loans 3,336 0 0
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 1,623 $ 5,208 $ 0
Stock Issued During Period, Shares, Acquisitions 167,035 171,885 0