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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 $ 110,076 $ 63,309 $ 88,574
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 9,357 8,453 8,363
Allocation of ESOP stock 2,197 1,135 1,575
Stock compensation 5,415 4,258 3,861
Net excess tax expense (benefit) on stock compensation 93 123 (357)
Amortization of core deposit intangible 5,453 6,186 4,027
Net accretion of purchase accounting adjustments (14,484) (21,557) (14,094)
Amortization of servicing asset 72 93 42
Net premium amortization in excess of discount accretion on securities 8,466 2,997 3,232
Net amortization of deferred costs on borrowings 824 553 216
Net amortization of deferred costs and discounts on loans 1,242 4,872 1,584
Credit loss (benefit) expense (11,832) 59,404 1,636
Deferred tax provision (benefit) 3,608 (4,615) 16,053
Net (gain) loss on sale and write-down of other real estate owned 0 (390) 20
Net write-down of fixed assets held-for-sale to net realizable value 7,787 3,853 7,532
Net gain on sale of fixed assets 0 (6) (27)
Net gain on equity investments (7,145) (21,214) (267)
Net gain on sales of loans (3,186) (8,278) (16)
Proceeds from sales of residential loans held for sale 102,648 171,263 1,023
Residential loans originated for sale (53,938) (213,428) (1,007)
Increase in value of bank owned life insurance (6,832) (6,424) (5,420)
Net (gain) loss on sale of assets held for sale (318) (21) 17
Decrease (increase) in interest and dividends receivable 2,663 (9,434) (397)
Decrease (increase) in other assets 33,093 17,030 (32,871)
(Decrease) increase in other liabilities (35,287) 74,494 16,948
Total adjustments 49,896 69,347 11,673
Net cash provided by operating activities 159,972 132,656 100,247
Cash flows from investing activities:      
Net increase in loans receivable (556,449) (428,444) (215,881)
Purchases of loans receivable (301,954) 0 (101,674)
Premiums paid on purchased loan pools (8,874) 0 0
Proceeds from sale of loans 825 449,462 5,901
Purchase of debt securities available-for-sale (510,070) (77,519) (60,158)
Purchase of debt securities held-to-maturity (447,447) (224,073) (4,381)
Purchase of equity investments (86,462) (96,519) (214)
Proceeds from maturities and calls of debt securities available-for-sale 103,720 43,503 29,299
Proceeds from maturities and calls of debt securities held-to-maturity 38,042 53,959 43,256
Proceeds from sales of debt securities available-for-sale 3,000 10,598 0
Proceeds from sales of debt securities held-to-maturity 0 12,450 0
Proceeds from sales of equity investments 98,777 16,978 0
Principal repayments on debt securities available-for-sale 0 306 503
Principal repayments on debt securities held-to-maturity 215,734 186,687 123,833
Proceeds from bank owned life insurance 12,878 1,022 870
Proceeds from the redemption of restricted equity investments 2,200 78,190 122,535
Purchases of restricted equity investments (3,267) (59,525) (127,794)
Proceeds from sales of other real estate owned 0 855 2,060
Proceeds from sales of assets held-for-sale 3,544 1,169 2,353
Purchases of premises and equipment (42,039) (14,728) (5,075)
Cash held in escrow for acquisitions 0 0 (46,950)
Cash consideration received for acquisition 0 23,460 59,395
Net cash used in investing activities (1,477,842) (22,169) (172,122)
Cash flows from financing activities:      
Net increase in deposits 407,569 1,507,943 65,687
Net payment for sale of branches (86,282) 0 0
(Decrease) increase in short-term borrowings (9,685) (226,018) 105,979
Proceeds from FHLB advances 0 525,000 80,000
Repayments of FHLB advances 0 (840,200) (106,618)
Net proceeds from issuance of subordinated notes 0 122,180 0
Proceeds from Federal Reserve Bank advances 0 53,778 0
Repayments from Federal Reserve Bank advances 0 (53,778) 0
Repayments of other borrowings (7,612) (8,109) (263)
Increase (decrease) in advances by borrowers for taxes and insurance 3,009 (2,803) (182)
Exercise of stock options 1,946 1,241 1,335
Payment of employee taxes withheld from stock awards (1,183) (2,084) (2,858)
Purchase of treasury stock (36,059) (14,814) (26,066)
Net proceeds from the issuance of preferred stock 0 55,529 0
Acquisition of common stock by ESOP (3,200) 0 0
Dividends paid (44,510) (42,917) (34,241)
Net cash provided by financing activities 223,993 1,074,948 82,773
Net (decrease) increase in cash and due from banks and restricted cash (1,093,877) 1,185,435 10,898
Supplemental disclosure of cash flow information:      
Cash and due from banks and restricted cash at beginning of year 1,318,661 133,226 122,328
Cash and due from banks at beginning of year 1,272,134 120,544 120,792
Restricted cash at beginning of year 46,527 12,682 1,536
Cash and due from banks at end of year 204,949 1,272,134 120,544
Restricted cash at end of year 19,835 46,527 12,682
Cash and due from banks and restricted cash at end of year 224,784 1,318,661 133,226
Cash paid during the year for:      
Interest 37,381 66,454 52,315
Income taxes 50,524 5,742 20,006
Non-cash activities:      
Accretion of unrealized loss on securities reclassified to held-to-maturity 667 756 991
Net loan (recoveries) charge-offs (442) 18,859 1,361
Transfer of premises and equipment to assets held-for-sale 4,035 3,953 2,189
Transfer of debt securities from available-for-sale to held-to-maturity 12,721 0 0
Transfer of loans receivable to other real estate owned 0 106 963
Transfer of loans receivable to loans held-for-sale 0 444,543 0
Non-cash assets acquired:      
Securities 0 208,880 103,775
Restricted equity investments 0 5,334 313
Loans 0 1,558,480 307,778
Premises and equipment 0 9,744 3,389
Accrued interest receivable 0 4,161 1,390
Bank owned life insurance 0 22,440 10,460
Deferred tax asset 0 41 3,967
Other assets 0 10,073 1,278
Goodwill and other intangible assets, net 0 139,501 38,875
Total non-cash assets acquired 0 1,958,654 471,225
Liabilities assumed:      
Deposits 0 1,594,403 449,018
Borrowings 0 92,618 0
Other liabilities 0 33,648 5,121
Total liabilities assumed $ 0 $ 1,720,669 $ 454,139