XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 30,373 $ 1,801
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred loan origination fees and fair value (discounts) premiums on loans 51 (2,239)
Amortization of investment securities premiums, net of accretion of discounts 787 1,906
Amortization of other intangibles assets 2,451 2,791
Net change in operating leases 120 130
Depreciation and amortization of premises and equipment 3,366 3,001
Deferred income tax expense, net 8,451 (6,226)
Provision for credit losses 6,324 47,131
Stock-based compensation 2,209 501
(Gain) loss on:    
Sale of securities 0 (4,728)
Sale of loans (1,894) (565)
Foreclosed real estate and other repossessed assets (1,583) 554
Sale of other assets (181) (7)
Originations and purchases of loans held-for-sale (92,264) (31,401)
Proceeds from sale of loans held-for-sale 62,886 19,133
Net (increase) decrease in:    
Trading securities (1) 8
Accrued interest receivable 4,519 (3,067)
Servicing assets (616) 1,492
Other assets (7,190) 18,791
Net increase (decrease) in:    
Accrued interest on deposits and borrowings (291) (1,136)
Accrued expenses and other liabilities 18,887 (28,815)
Net cash (used in) provided by operating activities 36,404 19,055
Purchases of:    
Investment securities available-for-sale (25,894) (618)
Investment securities held-to-maturity (126,777) 0
Other investments (1,595) (413)
Maturities and redemptions of:    
Investment securities available-for-sale 25,218 135,149
FHLB stock 45 2,747
Proceeds from sales of:    
Investment securities available-for-sale 0 320,984
Foreclosed real estate and other repossessed assets, including write-offs 10,159 11,010
Premises and equipment 580 7
Origination and purchase of loans, excluding loans held-for-sale (435,363) (249,157)
Principal repayment of loans 470,510 241,638
Additions to premises and equipment (3,564) (3,730)
Net cash provided by (used in) investing activities (86,681) 457,617
Net increase (decrease) in:    
Deposits 310,712 145,096
Securities sold under agreements to repurchase 0 (140,000)
FHLB advances, federal funds purchased, and other borrowings (1,254) (1,598)
Exercise of stock options with treasury shares 29 466
Purchase of treasury stock 0 (2,226)
Dividends paid on preferred stock (1,255) (1,628)
Dividends paid on common stock (4,116) (3,598)
Net cash provided by (used in) financing activities 304,116 (3,488)
Net change in cash, cash equivalents and restricted cash 253,839 473,184
Cash, cash equivalents and restricted cash at beginning of period 2,155,577 852,757
Cash, cash equivalents and restricted cash at end of period 2,409,416 1,325,941
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:    
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 2,409,416 1,325,941
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 9,393 15,584
Income taxes paid 0 5,000
Operating lease liabilities paid 3,253 3,208
Mortgage loans held-for-sale securitized into mortgage-backed securities 30,040 26,783
Transfer from loans to foreclosed real estate and other repossessed assets 13,583 8,716
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio 0 261
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio 4,544 0
Financed sales of foreclosed real estate 53 0
Loans booked under the GNMA buy-back option $ 40,777 $ 75,314