XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 24,844 $ 29,597
Adjustments to reconcile net income to net cash provided by operations:    
Provision for loan losses 12,065 5,212
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 4,433 4,156
Amortization and accretion of securities premiums and discounts, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (1,390) (540)
Amortization and accretion of deferred PPP processing fees (683) 0
Net realized gains on sales of available-for-sale securities (2,190) (148)
Net realized and unrealized (gains) losses on trading securities 80 (1,651)
Gain on sale of loans (1,801) (696)
Net losses (gains) on dispositions of premises and equipment and foreclosed assets 1,101 (353)
Proceeds from sale of loans 63,517 29,729
Origination of loans held for sale (64,447) (30,107)
Income on bank owned life insurance (1,290) (1,002)
Stock-based compensation expense 1,123 1,109
Changes in:    
Accrued interest receivable and other assets (7,771) (895)
Accrued interest payable, lease liabilities, and other liabilities (8,182) (3,278)
NET CASH PROVIDED BY OPERATING ACTIVITIES 19,409 31,133
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, prepayments and calls of available-for-sale securities 112,683 63,835
Proceeds from sales of available-for-sale securities 57,185 11,403
Purchase of available-for-sale securities (170,571) (72,542)
Proceeds from sale of trading securities 5,935 764
Purchase of trading securities (2,370) (415)
Loan origination and payments, net (224,448) (279,901)
Net cash from business combinations 72,852 0
Redemption (purchase) of FHLB, other equity, and restricted equity interests 1,471 (393)
Purchase of premises and equipment (3,784) (6,720)
Proceeds from the sale of premises and equipment and foreclosed assets 680 725
NET CASH USED BY INVESTING ACTIVITIES (150,367) (283,244)
Net change in:    
Checking, money market and savings accounts 540,588 286,141
Certificates of deposit (39,686) (21,332)
Purchase of treasury stock (1,306) (1,319)
Cash dividends paid, common stock (8,108) (7,765)
Proceeds from common stock offering, net of issuance costs 3,257 0
Proceeds from preferred stock offering, net of issuance costs 57,760 0
Repayment of long-term borrowings (290,565) (45,385)
Proceeds from long-term borrowings 231,985 30,353
Net change in short-term borrowings 0 18,016
NET CASH PROVIDED BY FINANCING ACTIVITIES 493,925 258,709
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 362,967 6,598
CASH AND CASH EQUIVALENTS, Beginning 192,974 45,563
CASH AND CASH EQUIVALENTS, Ending 555,941 52,161
Cash paid during the period for:    
Interest 26,006 28,304
Income taxes 5,124 5,014
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers to other real estate owned 274 1,473
Grant of restricted stock awards from treasury stock 934 1,076
Grant of performance based restricted stock awards from treasury stock 217 0
Right of use assets obtained in exchange for lease liabilities $ 182 $ 17,674