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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (73,351) $ 77,245
Adjustments to net income:    
Depreciation and amortization expense 5,525 4,636
Provision for credit losses 186,089 1,860
Share-based compensation expense 4,848 5,313
Loss (gain) on sales and disposals of premises and equipment 211 (170)
Loss (gain) on sale of or write down of other real estate owned 55 (75)
Net amortization on securities 3,739 2,573
Net (accretion) of discounts/premiums for acquired loans and deferred loan fees/costs (9,652) (12,271)
Gain on sales of investment securities available-for-sale (7,739) (639)
Originations of loans held for sale (10,163) (59,801)
Proceeds from the sales of and principal payments from loans held for sale 13,490 61,356
Loss (gain) on sales of loans 1,261 (2,631)
Deferred income tax (benefit) expense (46,608) 1,988
Change in accrued expenses and other liabilities, net 70,342 (11,315)
Income from bank owned life insurance, net (2,119) (1,367)
Amortization of core deposit intangible 8,005 8,717
Change in accrued interest receivable and other assets, net (46,110) (462)
Net cash provided by operating activities 97,823 74,957
Cash flows from investing activities:    
Net increase in interest-bearing time deposits with financial institutions 0 3,187
Proceeds from sale of other real estate owned 0 390
Loan originations and payments, net (527,053) 46,104
Proceeds from loans held for sale previously classified as portfolio loans 38,246 74,070
Purchase of loans held for investment (66,470) (48,903)
Proceeds from prepayments and maturities of held-to-maturity securities 5,208 2,214
Purchase of securities available-for-sale (458,667) (400,409)
Proceeds from prepayments and maturities of securities available-for-sale 63,985 55,549
Proceeds from sale of securities available-for-sale 339,853 227,138
Proceeds from the sales of premises and equipment 42 11,108
Proceeds from bank owned insurance death benefit 0 405
Purchases of premises and equipment (1,198) (5,101)
Change in FHLB, FRB and other stock, at cost (44) 2,416
Funding of CRA investments (7,375) (5,338)
Change in cash acquired in acquisitions, net 937,100 0
Net cash provided by (used in) investing activities 323,627 (37,170)
Cash flows from financing activities:    
Net increase in deposit accounts 1,162,194 203,571
Net change in short-term borrowings (681,000) (86,075)
Repayment of long-term FHLB borrowings (5,000) (10,000)
Proceeds from issuance of subordinated debt, net 147,359 122,453
Cash dividends paid (29,874) (27,541)
Repurchase and retirement of common stock 0 (65,969)
Proceeds from exercise of stock options 1,024 381
Restricted stock surrendered and canceled (1,273) (2,629)
Net cash provided by financing activities 593,430 134,191
Net increase in cash and cash equivalents 1,014,880 171,978
Cash and cash equivalents, beginning of period 326,850 203,406
Cash and cash equivalents, end of period 1,341,730 375,384
Supplemental cash flow disclosures:    
Interest paid 28,057 39,469
Income taxes paid 125 26,634
Noncash investing activities during the period:    
Transfers from portfolio loans to loans held for sale 42,169 75,175
Transfers from loans to other real estate owned 0 203
Recognition of operating lease right-of-use assets (11,118) (48,685)
Recognition of operating lease liabilities 11,118 (48,685)
Receivable on unsettled security sales 6,529 0
Due on unsettled security purchases (33,960) 0
Acquisitions (See Note 4):    
Fair value of stock and equity award consideration 749,603 0
Cash consideration 2 0
Fair value of assets acquired 8,097,225 0
Liabilities assumed $ 7,347,620 $ 0