XML 24 R9.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows Provided by (Used in) Operating Activities      
Net income $ 100,344 $ 102,953 $ 98,928
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 38,797 10,406 4,429
Amortization of intangible assets 10,008 9,547 5,854
Amortization of mortgage servicing rights 5,667 2,710 1,531
Depreciation and amortization of premises and equipment 12,273 11,879 9,556
Net amortization (accretion) of premium (discount) on portfolio loans (9,247) (10,905) (10,452)
Net amortization (accretion) of premium (discount) on investment securities 9,716 6,106 8,311
Net amortization (accretion) of premium (discount) on time deposits (933) (1,648) (243)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 586 309 146
Impairment of OREO 68 62 18
Impairment of fixed assets held for sale 6,901 2,026 817
Impairment of mortgage servicing rights 648    
Impairment of leases   348 146
Change in fair value of equity securities, net 393 759 (2,162)
(Gain) loss on sales of equity securities, net   (8) 51
(Gain) loss on sales of debt securities, net (1,724) (733) 1,780
Gain on sale of loans, net (26,999) (16,819) (10,446)
Gain on sales of OREO (133) (102) (384)
Loss on sales of premises and equipment 286 113 162
Gain on life insurance proceeds (1,270) (1,604) (666)
Provision for deferred income taxes (5,309) 96 7,116
Stock-based and non-cash compensation 7,135 3,997 3,721
Decrease in deferred compensation   (6,781) (3,780)
Increase in cash surrender value of bank owned life insurance (4,110) (4,191) (3,060)
Mortgage loans originated for sale (881,398) (667,515) (425,322)
Proceeds from sales of mortgage loans 920,050 641,778 504,721
Net change in operating assets and liabilities:      
(Increase) decrease in other assets (5,899) 5,397 9,580
Increase (decrease) in other liabilities (6,551) (7,380) 2,195
Net cash provided by (used in) operating Activities 169,299 80,800 202,547
Cash Flows Provided by (Used in) Investing Activities      
Purchases of debt securities held to maturity     (217,766)
Purchases of equity securities (13,123) (550)  
Purchases of debt securities available for sale (1,282,199) (408,941) (124,234)
Purchases of FHLB stock   (3,700)  
Proceeds from sales of equity securities 13,152 1,474 920
Proceeds from sales of debt securities available for sale   227,371 122,584
Proceeds from paydowns and maturities of debt securities held to maturity   14,422 50,560
Proceeds from paydowns and maturities of debt securities available for sale 665,744 541,753 163,582
Proceeds from the redemption of FHLB stock   5,369 4,864
Net cash paid for acquisitions   (61,481)  
Net increase in loans (119,869) (244,333) (49,864)
Cash paid for premiums on bank-owned life insurance (120) (6)  
Purchases of premises and equipment (4,198) (13,238) (11,618)
Proceeds from life insurance 2,696 3,915  
Proceeds from disposition of premises and equipment 814 424 324
Capitalized expenditures on OREO   (2)  
Proceeds from sales of OREO 1,439 2,481 5,298
Net cash (used in) provided by investing activities (735,664) 64,958 (55,350)
Cash Flows Provided by (Used in) Financing Activities      
Net increase in deposits 776,386 215,519 123,600
Net change in federal funds purchased and securities sold under agreements to repurchase (29,877) (30,904) (118,770)
Proceeds from other borrowings 142,634 60,000  
Repayment of other borrowings (74,000) (6,000) (5,500)
Proceeds from FHLB advances 4,000    
Repayment of FHLB advances (32,711) (24,667) (220,000)
Cash dividends paid (48,012) (45,171) (39,010)
Purchase of treasury stock (12,272) (24,292)  
Cash paid for withholding taxes on stock-based payments (635) (863) (1,208)
Proceeds from stock options exercised 101 169 392
Common stock issuance costs   (234)  
Net cash provided by (used in) financing activities 725,614 143,557 (260,496)
Net increase (decrease) in cash and cash equivalents 159,249 289,315 (113,299)
Cash and cash equivalents, beginning of period 529,288 239,973 353,272
Cash and cash equivalents, ending of period 688,537 529,288 239,973
Cash Payments for:      
Interest 53,601 70,577 40,639
Income taxes 22,195 24,725 23,183
Non-cash Investing and Financing Activities:      
OREO acquired in settlement of loans $ 2,867 4,872 4,025
Other assets transferred to equity investments     $ 4,000
Transfer of debt securities held to maturity to available for sale   $ 593,548