v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Operating activities:      
Net income $ 56,189 $ 7,089  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation of premises and equipment 3,969 3,831  
Write-down of foreclosed properties and former bank premises 1,065 95  
Amortization, net 7,904 6,164  
Accretion related to acquisitions, net (532) (5,262)  
Provision for credit losses (13,624) 60,196  
Gains on securities transactions, net (78) (1,936)  
BOLI income (2,265) (2,049)  
Proceeds from sales of loans held for sale 231,250 92,298  
Losses (gains) on sales of foreclosed properties and former bank premises, net (706) 141  
Loss on debt extinguishment 14,695 0  
Stock-based compensation expenses 2,199 2,291  
Issuance of common stock for services 0 204  
Decrease (increase) in loans held for sale from discontinued operations, net (185,885) (111,008)  
Net decrease (increase) in other assets 42,567 (112,493)  
Net increase (decrease) in other liabilities (72,375) 110,796  
Net cash provided by operating activities 84,373 50,357  
Investing activities:      
Purchases of AFS securities, restricted stock, and other investments (355,992) (208,318)  
Proceeds from sales of AFS securities and restricted stock 45,436 120,701  
Proceeds from maturities, calls and paydowns of AFS securities 124,053 81,240  
Proceeds from maturities, calls and paydowns of HTM securities 432 2,042  
Net increase in loans held for investment (250,762) (152,891)  
Net increase in premises and equipment (3,520) (3,994)  
Proceeds from BOLI settlements 556 0  
Proceeds from sales of foreclosed properties and former bank premises 2,431 2,095  
Net cash used in investing activities (437,366) (159,125)  
Financing activities:      
Net increase in noninterest-bearing deposits 697,696 97,434  
Net increase (decrease) in interest-bearing deposits (122,424) 150,670  
Net increase (decrease) in short-term borrowings (77,366) 528  
Repayments of long-term debt (214,695) 0 $ (550,000)
Cash dividends paid - common stock (19,700) (19,825)  
Cash dividends paid - preferred stock (2,967) 0  
Repurchase of common stock 0 (49,879)  
Issuance of common stock 2,183 777  
Vesting of restricted stock, net of shares held for taxes (2,148) (2,010)  
Net cash provided by financing activities 260,579 177,695  
Increase (decrease) in cash and cash equivalents (92,414) 68,927  
Cash, cash equivalents, and restricted cash at beginning of the period 493,294 436,032 436,032
Cash, cash equivalents, and restricted cash at end of the period 400,880 504,959 $ 493,294
Cash payments for:      
Interest 11,502 34,755  
Supplemental schedule of noncash investing and financing activities      
Transfers from loans to foreclosed properties 0 615  
Transfers from bank premises to OREO 1,425    
Transfers from LHFI to LHFS $ 0 $ 2,001  

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