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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income $ 33,649 $ 16,121
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment, and amortization 1,698 1,618
Amortization of intangible assets 1,431 1,431
Provision for (reversal of) credit losses (6,060) 8,070
Amortization of investment securities premium, net 1,186 509
Originations of loans for resale (65,970) (28,394)
Proceeds from sale of loans originated for resale 70,987 31,629
Gain on sale of loans (3,247) (891)
Change in market value of mortgage servicing rights (12) 1,258
Gain on sale of foreclosed assets (42) (41)
Operating lease expense payments (1,204) (1,237)
Increase in cash value of life insurance (673) (720)
Loss (gain) on marketable equity securities 53 (47)
Equity compensation vesting expense 537 439
Change in:    
Interest receivable 562 322
Interest payable (392) (421)
Accretion of operating lease ROUA 1,317 1,362
Other assets and liabilities, net 7,376 2,609
Net cash from operating activities 41,196 33,617
Investing activities:    
Proceeds from maturities of securities available for sale 91,813 20,212
Proceeds from maturities of securities held to maturity 23,850 15,592
Purchases of securities available for sale (372,917) (101,899)
Loan origination and principal collections, net (102,230) (70,903)
Loans purchased (101,466) 0
Proceeds from sale of other real estate owned 577 353
Purchases of premises and equipment (188) (761)
Net cash used by investing activities (460,561) (137,406)
Financing activities:    
Net change in deposits 357,466 35,704
Net change in other borrowings 9,312 855
Repurchase of common stock, net of option exercises (10) (17,147)
Dividends paid (7,432) (6,664)
Net cash from financing activities 359,336 12,748
Net change in cash and cash equivalents (60,029) (91,041)
Cash and cash equivalents, beginning of period 669,551 276,507
Cash and cash equivalents, end of period 609,522 185,466
Supplemental disclosure of noncash activities:    
Unrealized loss on securities available for sale (12,337) (29,561)
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 2 148
Obligations incurred in conjunction with leased assets 1,308 3,393
Supplemental disclosure of cash flow activity:    
Cash paid for interest expense 1,868 3,746
Cash paid for income taxes $ 0 $ 0