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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 63,309 $ 88,574 $ 71,932
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 8,453 8,363 8,706
Allocation of ESOP stock 1,135 1,575 1,618
Stock awards 4,258 3,861 3,038
Net excess tax expense (benefit) on stock compensation 123 (357) (722)
Amortization of core deposit intangible 6,186 4,027 3,811
Net accretion of purchase accounting adjustments (21,557) (14,094) (16,733)
Amortization of servicing asset 93 42 98
Net premium amortization in excess of discount accretion on securities 2,997 3,232 3,893
Net amortization of deferred costs on borrowings 553 216 262
Net amortization of deferred costs and discounts on loans 4,872 1,584 669
Credit loss expense 59,404 1,636 3,490
Deferred tax (benefit) provision (4,615) 16,053 (4,568)
Net loss on sale and write-down of other real estate owned (390) 20 2,359
Net write-down of fixed assets held-for-sale to net realizable value 3,853 7,532 4,024
Net gain on sale of fixed assets (6) (27) (26)
Net (gain) loss on equity securities (21,214) (267) 199
Net gain on sales of loans (8,278) (16) (668)
Proceeds from sales of mortgage loans held for sale 171,263 1,023 2,794
Mortgage loans originated for sale (213,428) (1,007) (2,498)
Increase in value of bank owned life insurance (6,424) (5,420) (5,105)
Net (gain) loss on sale of assets held for sale (21) 17 (1,245)
(Increase) decrease in interest and dividends receivable (9,434) (397) 186
Decrease (increase) in other assets 17,030 (32,871) 27,301
Increase (decrease) in other liabilities 74,494 16,948 (10,264)
Total adjustments 69,347 11,673 20,619
Net cash provided by operating activities 132,656 100,247 92,551
Cash flows from investing activities:      
Net (increase) decrease in loans receivable (428,444) (215,881) 103,889
Purchases of loans receivable 0 (101,674) (199,580)
Proceeds from sale of loans 449,462 5,901 10,412
Purchase of debt investment securities available-for-sale (77,519) (60,158) (33,040)
Purchase of debt investment securities held-to-maturity (28,796) (4,381) (6,486)
Purchase of debt mortgage-backed securities held-to-maturity (195,277) 0  
Purchase of equity investments (96,519) (214) (191)
Proceeds from sale of equity investments 16,978 0 0
Proceeds from maturities and calls of debt investment securities available-for-sale 43,503 29,299 18,501
Proceeds from maturities and calls of debt investment securities held-to-maturity 53,959 43,256 52,543
Proceeds from sales of debt mortgage backed securities held-to-maturity 12,450 0 0
Proceeds from sales of debt investment securities available-for-sale 10,598 0 0
Principal repayments on debt mortgage-backed securities available-for-sale 306 503 655
Principal repayments on debt investment securities held-to-maturity 857 0 0
Principal repayments on debt mortgage-backed securities held-to-maturity 185,830 123,833 119,125
Proceeds from bank owned life insurance 1,022 870 2,708
Proceeds from the redemption of restricted equity investments 78,190 122,535 106,807
Purchases of restricted equity investments (59,525) (127,794) (127,048)
Proceeds from sales of other real estate owned 855 2,060 5,438
Proceeds from sales of assets held for sale 1,169 2,353 10,050
Purchases of premises and equipment (14,728) (5,075) (11,487)
Cash held in escrow for acquisitions 0 (46,950)  
Cash consideration received (paid) for acquisition, net of cash received 23,460 59,395 (3,743)
Net cash (used in) provided by investing activities (22,169) (172,122) 48,553
Cash flows from financing activities:      
Increase (decrease) in deposits 1,507,943 65,687 (143,025)
(Decrease) increase in short-term borrowings (226,018) 105,979 126,092
Proceeds from Federal Home Loan Bank advances 525,000 80,000 0
Repayments of Federal Home Loan Bank advances (840,200) (106,618) (67,155)
Net proceeds from issuance of subordinated notes 122,180 0 0
Proceeds from Federal Reserve Bank Term advances 53,778 0 0
Repayments from Federal Reserve Bank Term advances (53,778) 0 0
Repayments of other borrowings (8,109) (263) (439)
(Decrease) increase in advances by borrowers for taxes and insurance (2,803) (182) 2,910
Exercise of stock options 1,241 1,335 5,324
Payment of employee taxes withheld from stock awards (2,084) (2,858) (3,295)
Purchase of treasury stock (14,814) (26,066) (10,837)
Net proceeds from the issuance of preferred stock 55,529 0 0
Acquisition of common stock by ESOP 0 0 (8,400)
Dividends paid (42,917) (34,241) (29,564)
Net cash provided by (used in) financing activities 1,074,948 82,773 (128,389)
Net increase in cash and due from banks and restricted cash 1,185,435 10,898 12,715
Supplemental disclosure of cash flow information:      
Cash and due from banks and restricted cash at beginning of year 133,226 122,328 109,613
Cash and due from banks at beginning of year 120,544 120,792 109,613
Restricted cash at beginning of year 12,682 1,536 0
Cash and due from banks at end of year 1,272,134 120,544 120,792
Restricted cash at end of year 46,527 12,682 1,536
Cash and due from banks and restricted cash at end of year 1,318,661 133,226 122,328
Cash paid during the year for:      
Interest 66,454 52,315 36,447
Income taxes 5,742 20,006 2,317
Non-cash activities:      
Accretion of unrealized loss on securities reclassified to held-to-maturity 756 991 2,905
Net loan charge-offs 18,859 1,361 2,634
Transfer of premises and equipment to assets held-for-sale 3,953 2,189 11,092
Transfer of loans receivable to other real estate owned 106 963 992
Transfer of loans receivable to loans held for sale 444,543 0 0
Unsettled trades of debt investment securities available-for-sale (1,404) 0 0
Unsettled trades of debt investment securities held-to-maturity (3,000) 0 0
Unsettled trades of equity securities 8,142 0 0
Non-cash assets acquired:      
Securities 208,880 103,775 254,522
Restricted equity investments 5,334 313 16,967
Loans 1,558,480 307,778 1,517,345
Premises and equipment 9,744 3,389 19,892
Accrued interest receivable 4,161 1,390 5,621
Bank owned life insurance 22,440 10,460 85,238
Deferred tax asset 41 3,967 57,574
Other assets 10,073 1,278 6,343
Goodwill and other intangible assets, net 139,501 38,875 199,838
Total non-cash assets acquired 1,958,654 471,225 2,163,340
Liabilities assumed:      
Deposits 1,594,403 449,018 1,616,073
Borrowings 92,618 0 127,727
Other liabilities 33,648 5,121 13,242
Total liabilities assumed $ 1,720,669 $ 454,139 $ 1,757,042