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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 71,200 $ 23,588
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 997 (5,267)
Amortization of fair value premiums on acquired deposits 0 (1,303)
Amortization of investment securities premiums, net of accretion of discounts 1,583 3,099
Amortization of other intangibles assets 4,901 5,559
Net change in operating leases 248 274
Depreciation and amortization of premises and equipment 6,913 6,190
Deferred income tax expense, net 8,733 1,053
Provision for credit losses (1,981) 64,827
Stock-based compensation 3,614 1,323
(Gain) loss on:    
Sale of securities 0 (4,728)
Sale of loans (3,833) (819)
Early extinguishment of debt 0 63
Foreclosed real estate and other repossessed assets (2,757) 1,343
Sale of other assets (570) (7)
Originations and purchases of loans held-for-sale (197,376) (55,198)
Proceeds from sale of loans held-for-sale 127,053 819
Net (increase) decrease in:    
Trading securities (7) 15
Accrued interest receivable 5,947 (45,363)
Servicing assets (417) 2,853
Other assets (3,321) 8,540
Net increase (decrease) in:    
Accrued interest on deposits and borrowings (578) (1,292)
Accrued expenses and other liabilities 48,085 15,985
Net cash provided by operating activities 68,434 21,554
Purchases of:    
Investment securities available-for-sale (27,886) 23,469
Investment securities held-to-maturity (126,777) 0
Other investments (5,206) (516)
Maturities and redemptions of:    
Investment securities available-for-sale 51,129 257,278
Investment securities held-to-maturity 1,578 0
FHLB stock 737 4,682
Proceeds from sales of:    
Investment securities available-for-sale 0 320,984
Foreclosed real estate and other repossessed assets, including write-offs 19,581 14,824
Premises and equipment 570 32
Origination and purchase of loans, excluding loans held-for-sale (1,003,889) (728,791)
Principal repayment of loans 1,093,923 522,880
Additions to premises and equipment (9,633) (7,344)
Net cash (used in) provided by investing activities (5,873) 407,498
Net increase (decrease) in:    
Deposits 629,322 831,303
Securities sold under agreements to repurchase 0 (190,063)
FHLB advances, federal funds purchased, and other borrowings (2,397) (10,805)
Exercise of stock options with treasury shares 282 466
Redemption of preferred stock (68,000) 0
Purchase of treasury stock 0 (2,226)
Dividends paid on preferred stock (1,255) (3,256)
Dividends paid on common stock (8,397) (7,191)
Net cash provided by financing activities 549,555 618,228
Net change in cash, cash equivalents and restricted cash 612,116 1,047,280
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 2,767,693 1,900,037
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:    
Cash and due from banks 2,756,288 1,888,965
Money market investments 11,206 10,022
Restricted cash 199 1,050
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 2,767,693 1,900,037
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 17,210 26,966
Income taxes paid 880 5,628
Operating lease liabilities paid 5,976 6,614
Mortgage loans held-for-sale securitized into mortgage-backed securities 83,909 55,612
Transfer from loans to foreclosed real estate and other repossessed assets 20,637 9,083
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio 17,993 261
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio 4,178 0
Interest capitalized on loans subject to the temporary payment moratorium 0 34,826
Financed sales of foreclosed real estate 407 0
Loans booked under the GNMA buy-back option $ 28,118 $ 75,091