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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net (loss) income $ (3,439) $ 57,744
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Provision for credit losses [1] 88,000 12,350
Net (accretion) amortization of premiums and discounts from acquisition (275) 135
Depreciation and amortization 15,591 13,614
Deferred income tax (benefit) expense (11,134) 295
Net (increase) decrease in trading securities and other earning assets (17,789) 4,507
Gains on sales of securities available for sale, net (1,227) (809)
Gains on sales of assets (1,922) (236)
Amortization of securities premiums, net of discount accretion 8,795 8,859
Originations of loans held for sale (77,129) (19,156)
Gains on sales of loans held for sale, net (320) (177)
Proceeds from sales of loans held for sale 75,667 21,258
Equity-based compensation 3,410 3,893
Net tax benefit related to equity compensation plans 312 539
Changes in:    
Accrued income 12,629 (6,839)
Accrued expenses and taxes (2,803) (13,319)
Other assets and liabilities, net (79,008) (36,453)
Net cash provided by operating activities 9,358 46,205
INVESTING ACTIVITIES    
Proceeds from maturities of securities held to maturity 19,507 22,769
Proceeds from sales of securities available for sale 84,439 53,329
Proceeds from maturities of securities available for sale 313,871 267,255
Purchases of securities held to maturity (18,662) (1,893)
Purchases of securities available for sale (422,003) (579,392)
Payment on low-income housing tax credit investment commitments (4,039)  
Net increase in loans (525,091) (383,799)
Net decrease in fed funds sold and resell agreements 793,595 362,229
Net cash activity from acquisitions and divestitures 24  
Net increase in interest bearing balances due from other financial institutions (1,274) (3,867)
Purchases of premises and equipment (17,652) (10,066)
Proceeds from sales of premises and equipment 8,389 2,904
Proceeds from bank-owned and company-owned life insurance death benefit 19  
Net cash provided by (used in) investing activities 231,123 (270,531)
FINANCING ACTIVITIES    
Net (decrease) increase in demand and savings deposits (186,380) 332,490
Net decrease in time deposits (241,344) (248,535)
Net decrease in fed funds purchased and repurchase agreements (5,591) (24,872)
Proceeds from short-term debt 15,000  
Repayment of long-term debt   (1,305)
Cash dividends paid (15,150) (14,777)
Proceeds from exercise of stock options and sales of treasury shares 2,454 1,448
Purchases of treasury stock (59,386) (4,086)
Net cash (used in) provided by financing activities (490,397) 40,363
Decrease in cash and cash equivalents (249,916) (183,963)
Cash and cash equivalents at beginning of period 1,669,170 1,674,121
Cash and cash equivalents at end of period 1,419,254 1,490,158
Supplemental disclosures:    
Income tax refunds (1,530) (12)
Total interest payments 42,134 $ 39,524
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 27,834  
Commitment to fund low-income housing tax credit investments $ 27,834  
[1] For the three months ended March 31, 2019, this line represents the Provision for loan losses. See further discussion of this change in Note 3, “New Accounting Pronouncements.