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
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Operating activities:              
Net income $ 85,384 $ 56,189 $ 30,709 $ 7,089 $ 141,573 $ 37,798  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:              
Depreciation of premises and equipment         7,966 7,517  
Write-down of foreclosed properties and former bank premises         1,065 95  
Amortization, net         15,928 12,749  
Accretion related to acquisitions, net         (1,056) (7,591)  
Provision for credit losses         (41,037) 94,396  
Gains on securities transactions, net 0   (10,339)   (78) (12,275)  
BOLI income         (5,475) (4,076)  
Originations and purchases of loans held for sale         (348,138) (293,629)  
Proceeds from sales of loans held for sale         409,809 292,883  
Losses (gains) on sales of foreclosed properties and former bank premises, net         (1,810) 10  
Losses on debt extinguishment 0   10,306   14,695 10,306  
Stock-based compensation expenses         4,853 4,652  
Issuance of common stock for services         188 404  
Net (increase) decrease in other assets         64,826 (173,045)  
Net increase (decrease) in other liabilities         (125,899) 151,970  
Net cash provided by operating activities         137,410 122,164  
Investing activities:              
Purchases of AFS securities and restricted stock         (651,254) (403,272)  
Proceeds from sales of AFS securities and restricted stock         45,436 228,271  
Proceeds from maturities, calls and paydowns of AFS securities         256,903 171,345  
Proceeds from maturities, calls and paydowns of HTM securities         1,730 5,927  
Net increase in loans held for investment         305,615 (1,686,449)  
Net increase in premises and equipment         (6,836) (10,884)  
Proceeds from BOLI settlements         3,152 0  
Purchases of BOLI policies         (100,000) 0  
Proceeds from sales of foreclosed properties and former bank premises         8,632 2,452  
Net cash used in investing activities         (136,622) (1,692,610)  
Financing activities:              
Net increase in noninterest-bearing deposits         853,869 1,375,821  
Net increase in interest-bearing deposits         82,617 924,421  
Net decrease in short-term borrowings         (261,139) (359,037)  
Proceeds from issuance of long-term debt         0 189,941  
Repayments of long-term debt         (214,695) (230,306) $ (550,000)
Cash dividends paid - common stock         (41,825) (39,502)  
Cash dividends paid - preferred stock         (5,934) 0  
Repurchase of common stock         (42,363) (49,879)  
Issuance of common stock         2,876 801  
Issuance of preferred stock, net         0 166,363  
Vesting of restricted stock, net of shares held for taxes         (2,318) (2,189)  
Net cash provided by financing activities         371,088 1,976,434  
Increase in cash and cash equivalents         371,876 405,988  
Cash, cash equivalents, and restricted cash at beginning of the period   $ 493,294   $ 436,032 493,294 436,032 436,032
Cash, cash equivalents, and restricted cash at end of the period $ 865,170   $ 842,020   865,170 842,020 $ 493,294
Cash payments for:              
Interest         23,859 63,198  
Income taxes         1,221 106  
Supplemental schedule of noncash investing and financing activities              
Transfers from loans to foreclosed properties         14 615  
Transfers from bank premises to OREO         1,109    
Transfers to LHFI from LHFS         $ 0 $ 1,050