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Consolidated Statements of Cash Flow
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income (Loss) Attributable to Parent $ (1,523,420) $ 354,095 $ 316,263
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Deferred income tax (benefit) expense (62,943) (3,544) 18,812
Amortization of investment premiums, net 27,069 26,449 9,917
(Gain) loss on sales of investment securities, net (190) 7,184 (14)
Provision for credit losses 204,861 72,515 55,905
Change in cash surrender value of bank owned life insurance (8,500) (8,443) (8,396)
Depreciation, amortization and accretion 37,474 43,286 52,345
Gain on sale of premises and equipment (2,284) (2,821) (2,037)
Gain on store divestiture (9,650) (1,225) (1,157)
Gain on Pivotus divestiture 0 0 (5,778)
Goodwill impairment 1,784,936 0 0
Additions to residential mortgage servicing rights carried at fair value (51,000) (25,169) (29,069)
Change in fair value residential mortgage servicing rights carried at fair value 73,103 44,783 13,195
Gain on redemption of junior subordinated debentures at amortized cost 0 0 (1,043)
Stock-based compensation 9,254 8,373 7,513
Net (increase) decrease in equity and other investments (2,143) (16,702) 900
(Gain) loss on equity securities, net (769) (83,475) 1,484
Gain on sale of loans and leases, net (289,212) (95,353) (77,772)
Change in fair value of loans held for sale (16,776) (10,557) 2,606
Origination of loans held for sale (6,666,500) (3,089,698) (2,872,994)
Proceeds from sales of loans held for sale 6,791,133 2,838,171 3,033,383
Change in other assets and liabilities:      
Net increase in other assets (209,822) (137,981) (28,312)
Net increase (decrease) in other liabilities 9,153 (367) 19,493
Net cash provided by (used in) operating activities 93,774 (80,479) 505,244
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of investment securities available for sale (867,675) (697,969) (449,359)
Proceeds from investment securities available for sale 828,752 918,658 440,241
Proceeds from sale of equity securities 0 81,853 0
Purchases of restricted equity securities (20,021) (220,200) (45,601)
Redemption of restricted equity securities 24,818 214,005 48,841
Net change in loans and leases (862,125) (1,085,272) (1,618,333)
Proceeds from sales of loans and leases 111,855 251,782 164,037
Change in premises and equipment (11,986) (12,676) (8,989)
Proceeds from bank owned life insurance death benefits 5,641 1,869 1,481
Payments for (Proceeds from) Mortgage Servicing Rights 0 34,401 0
Net cash paid in store divestiture (171,440) (44,646) (35,219)
Other 2,070 8,044 3,716
Net cash used in investing activities (960,111) (550,151) (1,499,185)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in deposit liabilities 2,341,319 1,393,940 1,226,507
Net increase in securities sold under agreements to repurchase 64,076 14,157 2,852
Proceeds from borrowings 600,000 940,670 100,000
Repayment of borrowings (735,000) (785,670) (150,652)
Repayment of junior subordinated debentures at amortized cost 0 0 (10,598)
Dividends paid on common stock (184,978) (185,101) (173,914)
Proceeds from stock options exercised 0 21 1,065
Repurchase and retirement of common stock (8,655) (7,268) (12,962)
Net cash provided by financing activities 2,076,762 1,370,749 982,298
Net increase (decrease) in cash and cash equivalents 1,210,425 740,119 (11,643)
Cash and cash equivalents, beginning of period 1,362,756 622,637 634,280
Cash and cash equivalents, end of period 2,573,181 1,362,756 622,637
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Interest 136,018 209,526 124,333
Income taxes 130,228 129,616 71,985
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Change in unrealized gains and losses on investment securities available for sale, net of taxes 79,200 69,238 (26,304)
Change in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes 13,996 19,225 (17,328)
Cumulative effect adjustment to retained earnings 40,181 244 9,710
Cash dividend declared on common stock and payable after period-end 0 46,248 46,254
Transfer of loans to loans held for sale 78,146 0 0
Change in GNMA mortgage loans recognized due to repurchase option $ (4,337) $ (4,581) $ (3,510)