v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 38,781 $ 11,526
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,728 5,018
Share-based compensation expense 1,235 1,395
Credit loss expense (1,217) 40,333
Gain on sales of securities (99) (15,712)
Gain on sales of SBA loans (7,633) (1,154)
Origination of SBA loans held for sale (81,302) (30,139)
Proceeds from sales of SBA loans 165,958 19,366
Change in bank-owned life insurance (508) (552)
Change in prepaid expenses and other assets 4,945 (34,408)
Change in income tax assets 3,969 4,930
Change in accrued expenses and other liabilities (1,188) 23,324
Net cash provided by (used in) operating activities 130,669 23,927
Cash flows from investing activities:    
Purchases of securities available for sale (291,416) (615,454)
Proceeds from matured, called and repayment of securities 162,622 108,444
Proceeds from sales of securities available for sale 8,035 495,566
Purchases of loans receivable (1,532)  
Purchases of premises and equipment (1,966) (2,279)
Proceeds from disposition of premises and equipment   51
Proceeds from sales of other real estate owned ("OREO") 1,425  
Change in loans receivable, excluding purchases (48,571) (244,973)
Net cash provided by (used in) investing activities (171,403) (258,645)
Cash flows from financing activities:    
Change in deposits 354,822 510,819
Change in overnight borrowings   (15,000)
Proceeds from borrowings   176,808
Cash paid for surrender of vested shares due to employee tax liability (451) (291)
Repurchase of common stock (946) (2,196)
Cash dividends paid (6,751) (11,052)
Net cash provided by (used in) financing activities 346,674 659,088
Net increase (decrease) in cash and due from banks 305,940 424,370
Cash and due from banks at beginning of year 391,849 121,678
Cash and due from banks at end of period 697,789 546,048
Supplemental disclosures of cash flow information:    
Interest paid 13,799 28,804
Income taxes paid 11,511 99
Non-cash activities:    
Transfer of loans receivable to other real estate owned   85
Income tax benefit (expense) related to items of other comprehensive income $ 2,473 1,234
Change in right-of-use asset obtained in exchange for lease liability   $ 17,333

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