Annual report pursuant to Section 13 and 15(d)

PARENT COMPANY FINANCIAL INFORMATION (CONDENSED STATEMENTS OF CASH FLOWS) (Details)

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PARENT COMPANY FINANCIAL INFORMATION (CONDENSED STATEMENTS OF CASH FLOWS) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income [1],[2] $ 158,228 $ 193,528 $ 146,248
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment [1],[2] 15,218 15,032 13,725
Accretion related to acquisitions, net [1],[2] (8,397) (7,899) (6,711)
Issuance of common stock for services [1],[2] 804 910 914
Net (increase) decrease in other assets [1],[2] (138,189) (57,859) (26,606)
Net increase in other liabilities [1],[2] 103,916 11,816 24,005
Net cash and cash equivalents provided by operating activities [1],[2] 231,922 194,799 216,765
Investing activities:      
Net increase in premises and equipment (29,573) (15,892) 1,698
Cash paid in acquisitions 0 (12) (14,304)
Cash received in acquisitions 0 46,164 174,496
Net cash provided by (used in) investing activities (1,918,306) (425,401) (770,039)
Financing activities:      
Net increase (decrease) in short-term borrowings (85,365) (872,229) 58,645
Repayments of long-term debt (619,616) (220,614) (40,000)
Proceeds from issuance of long-term borrowings 0 550,000 225,000
Cash dividends paid - common stock (78,860) (78,345) (58,001)
Cash dividends paid - preferred stock (5,658) 0 0
Cancellation of warrants 0 0 (1,530)
Issuance of preferred stock, net 166,356 0 0
Vesting of restricted stock, net of shares held for taxes (2,261) (2,301) (2,908)
Net cash and cash equivalents provided by (used in) financing activities 1,743,646 405,435 615,100
Net increase (decrease) in cash and cash equivalents 57,262 174,833 61,826
Cash, cash equivalents and restricted cash at beginning of the period 436,032 261,199 199,373
Cash, cash equivalents and restricted cash at end of the period 493,294 436,032 261,199
Supplemental schedule of noncash investing and financing activities      
Issuance of common stock in regard to acquisitions 0 499,974 794,809 [3]
Assets acquired 0 2,849,673 3,253,328
Liabilities assumed [4] 0 2,558,063 2,873,718
Parent Company      
Operating activities:      
Net income 158,228 193,528 146,248
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in undistributed net income of subsidiaries (75,326) (52,878) (115,638)
Depreciation of premises and equipment 439 424 424
Accretion related to acquisitions, net 735 662 636
Gain on sale of investment 0 0 (1,416)
Issuance of common stock for services 804 910 914
Net (increase) decrease in other assets (3,005) (3,256) (584)
Net increase in other liabilities 10,038 4,964 (4,159)
Net cash and cash equivalents provided by operating activities 91,913 144,354 26,425
Investing activities:      
Net increase in premises and equipment (306) (355) 0
Proceeds from sale of investment 0 0 3,761
Increase in equity method investment (2,353) 0 0
Cash paid in acquisitions 0 (12) 0
Cash received in acquisitions 0 21,553 25,976
Net cash provided by (used in) investing activities (2,659) 21,186 29,737
Financing activities:      
Net increase (decrease) in short-term borrowings 0 (5,000) 5,000
Repayments of long-term debt (8,500) 0 0
Cash dividends paid - common stock (78,860) (78,345) (58,001)
Cash dividends paid - preferred stock (5,658) 0 0
Cancellation of warrants 0 0 (1,530)
Issuance (repurchase) of common stock (48,866) (78,292) 2,347
Issuance of preferred stock, net 166,356 0 0
Vesting of restricted stock, net of shares held for taxes (2,261) (2,301) (2,908)
Net cash and cash equivalents provided by (used in) financing activities 22,211 (163,938) (55,092)
Net increase (decrease) in cash and cash equivalents 111,465 1,602 1,070
Cash, cash equivalents and restricted cash at beginning of the period 5,283 3,681 2,611
Cash, cash equivalents and restricted cash at end of the period 116,748 5,283 3,681
Supplemental schedule of noncash investing and financing activities      
Issuance of common stock in regard to acquisitions 0 499,974 794,809
Assets acquired 0 509,075 859,176
Liabilities assumed $ 0 $ 9,089 $ 64,367
[1] Discontinued operations have an immaterial impact to the Company’s Consolidated Statements of Cash Flows. The change in goodwill impairment losses included in the Operating Activities section above are attributable to discontinued operations.
[2] Loans held for sale activity is included in the Operating Activities section above. Due to the increased mortgage related activity during 2020 and 2019, the loans held for sale activity is segregated between originations and purchases of loans held for sale and proceeds from sales of loans held for sale. 2018 loans held for sale activity is included in the change in loans held for sale and is attributable to discontinued operations which has an immaterial impact on the Company’s Consolidated Statements of Cash Flows.
[3] Includes conversion of Xenith warrants to the Company’s warrants.
[4] 2018 includes contingent consideration related to DHFB and OAL acquisitions.