v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 72,915 $ 65,346
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,463 12,186
Share-based compensation expense 1,886 1,899
Credit loss expense (recovery) 783 (8,452)
Gain on sales of securities   (99)
Gain on sales of SBA loans (7,545) (13,475)
Origination of SBA loans held for sale (111,915) (233,642)
Proceeds from sales of SBA loans 122,744 233,711
Change in bank-owned life insurance (736) (759)
Change in prepaid expenses and other assets (21,443) 5,531
Change in income tax assets 15,592 3,407
Change in accrued expenses and other liabilities 15,646 (188)
Net cash provided by (used in) operating activities 100,390 65,465
Cash flows from investing activities:    
Purchases of securities available for sale (132,966) (402,259)
Proceeds from matured, called and repayment of securities 84,669 223,129
Proceeds from sales of securities available for sale   8,035
Purchases of loans receivable (11,130) (1,500)
Purchases of premises and equipment (1,750) (2,450)
Proceeds from disposition of premises and equipment   45
Proceeds from sales of other real estate owned ("OREO")   1,479
Change in loans receivable, excluding purchases (641,619) 20,415
Net cash provided by (used in) investing activities (702,796) (153,106)
Cash flows from financing activities:    
Change in deposits 415,107 454,528
Proceeds from borrowings 399,819 45,750
Repayment of borrowings (437,320) (58,250)
Proceeds from redeemed subordinated debentures 12,700  
Issuance of subordinated debentures   107,956
Redemption of subordinated debentures (100,000) (13,043)
Proceeds from exercise of stock options 13  
Cash paid for surrender of vested shares due to employee tax liability (704) (531)
Repurchase of common stock   (5,837)
Cash dividends paid (21,015) (10,433)
Net cash provided by (used in) financing activities 268,600 520,140
Net increase (decrease) in cash and due from banks (333,806) 432,498
Cash and due from banks at beginning of year 608,965 391,849
Cash and due from banks at end of period 275,159 824,347
Supplemental disclosures of cash flow information:    
Interest paid 17,469 19,839
Income taxes paid 12,725 22,265
Non-cash activities:    
Transfer of loans receivable to other real estate owned 117  
Income tax benefit related to items of other comprehensive income 37,749 3,543
Change in right-of-use asset obtained in exchange for lease liability $ 108 $ 2,905

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