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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 108,546 $ 36,357 $ 53,882
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses (10,765) 59,900 9,568
Depreciation and amortization 6,830 6,880 6,706
Net amortization on securities 7,758 4,581 975
Amortization of investments in tax credit funds 1,825 1,442 1,608
Net realized gain on securities sold (1,748) (580) (20)
Deferred income tax expense (benefit) 6,279 (11,884) (2,596)
Stock-based compensation expense 2,295 2,320 2,247
Originations of mortgage loans held for sale (478,325) (659,188) (353,090)
Proceeds from mortgage loans held for sale 542,638 570,349 334,958
Gain on mortgage loans held for sale, including origination of servicing rights (17,015) (19,190) (6,943)
Mortgage servicing rights valuation adjustment 2,593 12,746 7,012
Net loss on disposals of premises and equipment 82 72 139
Increase in the cash surrender value of life insurance (810) (917) (755)
Gain on equity securities without a readily determinable fair value (19) 0 (367)
Net losses on sales and write-downs of other real estate owned 103 1,141 194
Gain on fair value of previously held interest in Lincoln Agency (5,213) 0 0
Other operating activities, net 6,431 (3,142) 8,035
Net cash provided by operating activities 171,485 887 61,553
Cash flows from investing activities:      
Cash paid for business combinations (7,457) 0 0
Purchases of securities available for sale (717,028) (700,319) (94,544)
Maturities, pay downs and calls of securities available for sale 146,941 151,932 154,473
Proceeds from sales of securities available for sale 44,893 64,702 27,766
Purchase of securities held to maturity 0 (10,000) (10,000)
Maturities, pay downs and calls of securities held to maturity 15,250 415 541
Pay downs of securities carried at fair value 3,243 452 434
Net sales (purchases) of non-marketable equity securities held in other financial institutions 17,583 (22,401) 3,386
Originations of mortgage warehouse loans (16,121,464) (13,665,295) (4,306,171)
Proceeds from pay-offs of mortgage warehouse loans 16,578,387 12,855,955 4,239,381
Net decrease (increase) in loans, excluding mortgage warehouse and loans held for sale 55,020    
Net decrease (increase) in loans, excluding mortgage warehouse and loans held for sale   (788,719) (290,278)
Surrender (purchase) of bank-owned life insurance 11 0 (4,500)
Return of capital on limited partnership investments 0 818 503
Capital calls on limited partnership investments (225) (525) (1,521)
Purchase of low-income housing tax credit investments (1,254) 0 0
Purchases of premises and equipment (5,015) (7,198) (11,152)
Proceeds from sales of premises and equipment 18 0 27
Proceeds from sales of other real estate owned 3,949 4,451 470
Net cash provided by (used in) investing activities 12,852 (2,115,732) (291,185)
Cash flows from financing activities:      
Net increase in deposits 819,378 1,522,703 445,474
Proceeds from long-term FHLB advances 0 0 100,000
Repayments on long-term FHLB advances (13,716) (1,898) (101,649)
Proceeds from Federal Reserve Bank Paycheck Protection Program Liquidity Facility ("PPPLF") 0 319,257 0
Repayments on PPPLF 0 (319,257) 0
Proceeds from short-term FHLB advances 5,726,000 2,107,000 2,815,000
Repayments on short-term FHLB advances (6,376,000) (1,557,000) (2,815,000)
Issuance of subordinated indebtedness, net 0 147,374 0
Net increase (decrease) in securities sold under agreements to repurchase 1,039 (8,309) (23,597)
Dividends paid (11,525) (8,854) (5,863)
Cash received from exercise of stock options 146 248 166
Common stock repurchased (1,256) (723) (10,059)
Net cash provided by financing activities 144,066 2,200,541 404,472
Net increase in cash and cash equivalents 328,403 85,696 174,840
Cash and cash equivalents at beginning of period 377,214 291,518 116,678
Cash and cash equivalents at end of period 705,617 377,214 291,518
Interest paid 26,265 36,432 53,227
Income taxes paid 21,164 24,974 10,023
Significant non-cash transactions:      
Unsettled liability for investment purchases recorded at trade date 8,191 1,514 2,659
Real estate acquired in settlement of loans $ 3,889 $ 2,446 $ 1,577