v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 43,690 $ 56,189
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of premises and equipment 3,599 3,969
Writedown of ROU assets and equipment 4,570 1,065
Amortization, net 8,619 7,904
Amortization (accretion) related to acquisitions, net 875 (532)
Provision for credit losses 2,800 (13,624)
Gains on securities transactions, net 0 (78)
BOLI income (2,697) (2,265)
Originations and purchases of loans held for sale (91,957) (185,885)
Proceeds from sales of loans held for sale 91,434 231,250
Gains on sales of foreclosed properties and former bank premises, net 0 (706)
Losses on debt extinguishment 0 14,695
Stock-based compensation expenses 2,409 2,199
Issuance of common stock for services 217 0
Net decrease in other assets 46,434 42,567
Net increase (decrease) in other liabilities 1,454 (72,375)
Net cash provided by operating activities 111,447 84,373
Investing activities:    
Purchases of AFS securities, restricted stock, and other investments (62,773) (355,992)
Purchases of HTM securities (130,533) 0
Proceeds from sales of AFS securities and restricted stock 0 45,436
Proceeds from maturities, calls and paydowns of AFS securities 109,974 124,053
Proceeds from maturities, calls and paydowns of HTM securities 550 432
Net increase in loans held for investment (258,502) (250,762)
Net increase in premises and equipment (797) (3,520)
Proceeds from BOLI settlements 2,068 556
Proceeds from sales of foreclosed properties and former bank premises 0 2,431
Net cash used in investing activities (340,013) (437,366)
Financing activities:    
Net increase in noninterest-bearing deposits 162,739 697,696
Net decrease in interest-bearing deposits (289,594) (122,424)
Net decrease in short-term borrowings (2,843) (77,366)
Repayments of long-term debt 0 (214,695)
Cash dividends paid - common stock (21,163) (19,700)
Cash dividends paid - preferred stock (2,967) (2,967)
Repurchase of common stock (25,018) 0
Issuance of common stock 3,804 2,183
Vesting of restricted stock, net of shares held for taxes (2,590) (2,148)
Net cash (used in) provided by financing activities (177,632) 260,579
Decrease in cash and cash equivalents (406,198) (92,414)
Cash, cash equivalents, and restricted cash at beginning of the period 802,501 493,294
Cash, cash equivalents, and restricted cash at end of the period 396,303 400,880
Cash payments for:    
Interest 5,393 11,502
Supplemental schedule of noncash investing and financing activities    
Transfers from bank premises to OREO $ 0 $ 1,425

Source