Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 7,089 $ 35,631
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation of premises and equipment 3,831 3,638
Write-down of foreclosed properties and former bank premises 95 52
Amortization, net 6,164 4,780
Amortization (accretion) related to acquisition, net (5,262) (1,624)
Provision for credit losses 60,196 3,792
Gains on securities transactions, net (1,936) (151)
BOLI income (2,049) (2,055)
Decrease (increase) in loans held for sale, net (21,285) (7,485)
Losses (gains) on sales of foreclosed properties and former bank premises, net 141 47
Stock-based compensation expenses 2,291 1,870
Issuance of common stock for services 204 219
Net decrease (increase) in other assets (111,854) (17,681)
Net increase in other liabilities 110,731 (7,943)
Net cash and cash equivalents provided by (used in) operating activities 48,356 13,090
Investing activities:    
Purchases of AFS securities and restricted stock (208,318) (146,193)
Purchases of HTM securities 0 (47,217)
Proceeds from sales of AFS securities and restricted stock 120,701 208,249
Proceeds from maturities, calls and paydowns of AFS securities 81,240 53,439
Proceeds from maturities, calls and paydowns of HTM securities 2,042 1,320
Net increase in loans held for investment (150,890) (81,391)
Net increase in premises and equipment (3,994) (1,460)
Proceeds from sales of foreclosed properties and former bank premises 2,095 171
Cash paid in acquisitions 0 (12)
Cash acquired in acquisitions 0 46,164
Net cash and cash equivalents provided by (used in) investing activities (157,124) 33,070
Financing activities:    
Net increase in noninterest-bearing deposits 97,434 185,099
Net increase in interest-bearing deposits 150,670 106,490
Net increase (decrease) in short-term borrowings 528 (295,008)
Cash dividends paid - common stock (19,825) (18,838)
Repurchase of common stock (49,879) 0
Issuance of common stock 777 138
Vesting of restricted stock, net of shares held for taxes (2,010) (1,647)
Net cash and cash equivalents provided by (used in) financing activities 177,695 (23,766)
Increase (decrease) in cash and cash equivalents 68,927 22,394
Cash and cash equivalents at beginning of the period 436,032 261,199
Cash and cash equivalents at end of the period 504,959 283,593
Cash payments for:    
Interest 34,755 34,871
Income taxes 0 0
Supplemental schedule of noncash investing and financing activities    
Transfers from loans (foreclosed properties) to foreclosed properties (loans) $ 615 900
Issuance of common stock in exchange for net assets in acquisition   499,974
Transactions related to acquisitions    
Assets acquired   2,858,048
Liabilities assumed   $ 2,558,638