Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 37,798 $ 84,453
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of premises and equipment 7,517 7,368
Write-down of foreclosed properties and former bank premises 95 852
Amortization, net 12,749 12,917
Amortization (accretion) related to acquisition, net (7,591) (4,704)
Provision for credit losses 94,396 9,092
Gains on securities transactions, net (12,275) (202)
BOLI income (4,076) (4,129)
Decrease (increase) in loans held for sale, net 338 (41,681)
Losses (gains) on sales of foreclosed properties and former bank premises, net 10 147
Loss on debt extinguishment 10,306 0
Stock-based compensation expenses 4,652 4,204
Issuance of common stock for services 404 419
Net decrease (increase) in other assets (172,997) (54,426)
Net increase in other liabilities 151,888 15,710
Net cash provided by (used in) operating activities 123,214 30,020
Investing activities:    
Purchases of AFS securities and restricted stock (403,272) (253,324)
Purchases of HTM securities 0 (47,217)
Proceeds from sales of AFS securities and restricted stock 228,271 387,949
Proceeds from maturities, calls and paydowns of AFS securities 171,345 108,115
Proceeds from maturities, calls and paydowns of HTM securities 5,927 1,410
Net increase in loans held for investment (1,687,499) (348,515)
Net increase in premises and equipment (10,884) (5,691)
Proceeds from sales of foreclosed properties and former bank premises 2,452 1,035
Cash paid in acquisitions 0 (12)
Cash acquired in acquisitions 0 46,164
Net cash provided by (used in) investing activities (1,693,660) (110,086)
Financing activities:    
Net increase in noninterest-bearing deposits 1,375,821 235,882
Net increase in interest-bearing deposits 924,421 82,134
Net increase (decrease) in short-term borrowings (359,037) (619,562)
Cash paid for contingent consideration 0 (565)
Proceeds from issuance of long-term debt 189,941 500,000
Repayments of long-term debt (230,306) (20,000)
Cash dividends paid - common stock (39,502) (37,714)
Repurchase of common stock (49,879) 0
Issuance of common stock 801 1,124
Issuance of preferred stock, net 166,363 0
Vesting of restricted stock, net of shares held for taxes (2,189) (1,954)
Net cash provided by (used in) financing activities 1,976,434 139,345
Increase (decrease) in cash and cash equivalents 405,988 59,279
Cash, cash equivalents and restricted cash at beginning of the period 436,032 261,199
Cash, cash equivalents and restricted cash at end of the period 842,020 320,478
Cash payments for:    
Interest 63,198 77,838
Income taxes 106 7,426
Supplemental schedule of noncash investing and financing activities    
Transfers from loans (foreclosed properties) to foreclosed properties (loans) 615 1,171
Issuance of common stock in exchange for net assets in acquisition 0 499,974
Transactions related to acquisitions    
Assets acquired 0 2,855,359
Liabilities assumed $ 0 $ 2,558,638