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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 43,078 $ 24,844
Adjustments to reconcile net income to net cash provided by operations:    
Provision for credit loss expense 5,189 12,065
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 5,075 4,433
Amortization (accretion) of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (1,251) (1,390)
Net amortization of deferred costs on borrowings 101 0
Accretion of deferred PPP processing fees (6,817) (683)
Net realized gains on sales of available-for-sale securities 0 (2,190)
Net realized and unrealized (gains) losses on trading securities (477) 80
Gain on sale of loans (2,315) (1,801)
Net losses (gains) on dispositions of premises and equipment and foreclosed assets 245 1,101
Proceeds from sale of loans 67,739 63,517
Origination of loans held for sale (69,311) (64,447)
Income on bank owned life insurance (1,548) (1,290)
Gain on bank owned life insurance (death benefit proceeds in excess of cash surrender value) (454) 0
Stock-based compensation expense 1,124 1,123
Stock-based contribution expense 75 0
Changes in:    
Accrued interest receivable and other assets (2,870) (7,771)
Accrued interest payable, lease liabilities, and other liabilities 1,070 (8,182)
NET CASH PROVIDED BY OPERATING ACTIVITIES 38,653 19,409
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, prepayments and calls of available-for-sale securities 124,140 112,683
Proceeds from sales of available-for-sale securities 0 57,185
Purchase of available-for-sale securities (290,130) (170,571)
Proceeds from sale of trading securities 0 5,935
Purchase of trading securities (292) (2,370)
Proceeds from loans held for sale previously classified as portfolio loans 1,627 0
Loan origination and payments, net (126,411) (224,448)
Purchase of BOLI (22,000) 0
Proceeds from death benefit of BOLI policies 1,390 0
Net cash from business combinations 0 72,852
Redemption (purchase) of FHLB, other equity, and restricted equity interests (1,241) 1,471
Purchase of premises and equipment (5,358) (3,784)
Proceeds from the sale of premises and equipment and foreclosed assets 591 680
NET CASH USED BY INVESTING ACTIVITIES (317,684) (150,367)
Net change in:    
Checking, money market and savings accounts 451,405 540,588
Certificates of deposit (39,521) (39,686)
Purchase of treasury stock (161) (1,306)
Cash dividends paid, common stock (8,601) (8,108)
Cash dividends paid, preferred stock (3,226) 0
Proceeds from common stock offering, net of issuance costs 0 3,257
Proceeds from preferred stock offering, net of issuance costs 0 57,760
Proceeds from issuance of subordinated notes, net of issuance costs 83,491 0
Repayment of long-term borrowings 0 (290,565)
Proceeds from long-term borrowings 0 231,985
NET CASH PROVIDED BY FINANCING ACTIVITIES 483,387 493,925
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 204,356 362,967
CASH AND CASH EQUIVALENTS, Beginning 532,694 192,974
CASH AND CASH EQUIVALENTS, Ending 737,050 555,941
Cash paid during the period for:    
Interest 15,296 26,006
Income taxes 9,846 5,124
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers to other real estate owned 1,450 274
Transfers from loans held for sale to loans held for investment 9,335 0
Transfers from loans held for investment to loans held for sale 2,484 0
Grant of restricted stock awards from treasury stock 1,285 934
Grant of performance based restricted stock awards from treasury stock 262 217
Contribution of stock from treasury stock 0  
Treasury Stock    
SUPPLEMENTAL NONCASH DISCLOSURES:    
Contribution of stock from treasury stock $ 81 $ 0