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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (6,785) $ 118,620
Adjustments to net income (loss):    
Depreciation and amortization expense 9,186 7,007
Provision for credit losses 190,299 3,422
Share-based compensation expense 7,747 7,927
Loss (gain) on sales and disposals of premises and equipment 255 (152)
Loss (gain) on sale of or write down of other real estate owned 42 (55)
Net amortization on securities 9,417 3,591
Net (accretion) of discounts/premiums for acquired loans and deferred loan fees/costs (28,317) (19,982)
Gain on sales of investment securities available-for-sale (8,880) (4,900)
Originations of loans held for sale (12,217) (83,521)
Proceeds from the sales of and principal payments from loans held for sale 14,201 88,683
Gain on sales of loans (8,281) (4,944)
Deferred income tax (benefit) expense (52,471) 1,365
Change in accrued expenses and other liabilities, net 19,770 (4,855)
Income from bank owned life insurance, net (3,849) (2,029)
Amortization of intangible assets 12,567 12,998
Change in accrued interest receivable and other assets, net 28,426 7,858
Net cash provided by operating activities 171,110 131,033
Cash flows from investing activities:    
Net increase in interest-bearing time deposits with financial institutions 0 3,432
Proceeds from sale of other real estate owned 273 405
Loan originations and payments, net (111,334) 197,995
Proceeds from loans held for sale previously classified as portfolio loans 1,283,214 76,579
Purchase of loans held for investment (66,470) (182,504)
Proceeds from prepayments and maturities of securities held-to-maturity 9,782 4,741
Purchase of securities available-for-sale (2,057,690) (603,457)
Proceeds from prepayments and maturities of securities available-for-sale 149,720 85,330
Proceeds from sale of securities available-for-sale 558,899 418,471
Proceeds from the sales of premises and equipment 42 11,139
Proceeds from bank owned insurance death benefit 17,799 405
Purchases of premises and equipment (8,687) (16,154)
Change in FHLB, FRB, and other stock, at cost (22,584) 2,381
Funding of CRA investments (9,025) (7,295)
Change in cash acquired in acquisitions, net 937,100 0
Net cash provided by (used in) investing activities 681,039 (8,532)
Cash flows from financing activities:    
Net increase in deposit accounts 516,308 200,937
Net change in short-term borrowings (681,000) (53,075)
Repayment of long-term FHLB borrowings (5,000) (10,000)
Proceeds from issuance of subordinated debt, net 147,359 122,453
Redemption of junior subordinated debt securities 0 (15,465)
Cash dividends paid (53,464) (40,807)
Repurchase and retirement of common stock 0 (100,000)
Proceeds from exercise of stock options 1,247 394
Restricted stock surrendered and canceled (1,372) (2,629)
Net cash (used in) provided by financing activities (75,922) 101,808
Net increase in cash and cash equivalents 776,227 224,309
Cash and cash equivalents, beginning of period 326,850 203,406
Cash and cash equivalents, end of period 1,103,077 427,715
Supplemental cash flow disclosures:    
Interest paid 43,188 58,591
Income taxes paid 26,151 33,469
Noncash investing activities during the period:    
Transfers from portfolio loans to loans held for sale 1,276,277 78,085
Transfers from loans to other real estate owned 208 329
Recognition of operating lease right-of-use assets (11,118) (49,542)
Recognition of operating lease liabilities 11,118 49,542
Due on unsettled security purchases (20,000) (2,034)
Acquisitions (See Note 4):    
Fair value of stock and equity award consideration 749,603 0
Cash consideration 2 0
Fair value of assets acquired 8,102,281 0
Liabilities assumed $ 7,352,676 $ 0