XML 145 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 1,801 $ 23,470
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred loan origination fees and fair value (discounts) premiums on acquired loans (2,239) 809
Amortization of investment securities premiums, net of accretion of discounts 1,906 1,113
Amortization of core deposit, customer relationships and other intangibles 2,791 292
Net change in operating leases 130 10
Depreciation and amortization of premises and equipment 3,001 2,095
Deferred income tax (benefit) expense, net (6,226) 1,344
Provision for credit losses 47,131 12,249
Stock-based compensation 501 447
(Gain) loss on:    
Sale of securities (4,728) 0
Sale of loans (565) (167)
Foreclosed real estate and other repossessed assets 554 1,176
Sale of other assets (7) 0
Originations of loans held-for-sale (31,401) (18,282)
Proceeds from sale of loans held-for-sale 19,133 5,923
Net (increase) decrease in:    
Trading securities 8 (21)
Accrued interest receivable (3,067) 1,102
Servicing assets 1,492 93
Other assets 18,791 6,703
Net increase (decrease) in:    
Accrued interest on deposits and borrowings (1,136) (991)
Accrued expenses and other liabilities (28,815) (16,687)
Net cash provided by operating activities 19,055 20,678
Purchases of:    
Investment securities available-for-sale (618) (207)
FHLB stock 0 (1,101)
Other investments (413) 0
Maturities and redemptions of:    
Investment securities available-for-sale 135,149 44,758
FHLB stock 2,747 945
Proceeds from sales of:    
Investment securities available-for-sale 320,984 0
Foreclosed real estate and other repossessed assets, including write-offs 11,010 11,948
Premises and equipment 7 0
Origination and purchase of loans, excluding loans held-for-sale (249,157) (258,082)
Principal repayment of loans 241,638 254,992
Additions to premises and equipment (3,730) (2,220)
Net cash provided by investing activities 457,617 51,033
Net increase (decrease) in:    
Deposits 145,096 12,850
Securities sold under agreements to repurchase (140,000) (23,766)
FHLB advances, federal funds purchased, and other borrowings (1,598) 2,547
Exercise of stock options with treasury shares 466 437
Purchase of treasury stock (2,226) 0
Dividends paid on preferred stock (1,628) (1,229)
Dividends paid on common stock (3,598) (3,590)
Net cash (used in) financing activities (3,488) (12,751)
Net change in cash, cash equivalents and restricted cash 473,184 58,960
Cash, cash equivalents and restricted cash at beginning of period 852,757 450,063
Cash, cash equivalents and restricted cash at end of period 1,325,941 509,023
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Balance Sheets [Abstract]    
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,325,941 509,023
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 15,584 13,513
Income taxes paid 5,000 0
Operating lease liabilities paid 3,208 1,519
Mortgage loans securitized into mortgage-backed securities 26,783 15,163
Transfer from held-to-maturity securities to available-for-sale securities 0 424,740
Transfer from loans to foreclosed real estate and other repossessed assets 8,716 10,995
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio 261 0
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio 0 49
Financed sales of foreclosed real estate 0 186
Loans booked under the GNMA buy-back option 75,314 12,942
Initial recognition of operating lease right-of-use assets 0 21,930
Initial recognition of operating lease liabilities $ 0 $ 23,689