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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 153,370 $ 157,402
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for probable loan losses 15,363 3,212
Specific reserve, other real estate owned 154 3,033
Depreciation of bank premises and equipment 21,140 19,097
Gain on sale of bank premises and equipment (207) (293)
Gain on sale of other real estate owned (1,246) (1,317)
Accretion of investment securities discounts (311) (209)
Amortization of investment securities premiums 13,678 15,620
Investment securities transactions, net 12 141
Unrealized loss on equity securities with readily determinable fair values (235) 312
Stock based compensation expense 744 755
Earnings from affiliates and other investments (2,869) (12,247)
Deferred tax expense 330 1,373
Decrease in accrued interest receivable 1,444 65
Increase in other assets (17,430) (48,747)
Net increase in other liabilities 27,250 40,533
Net cash provided by operating activities 211,187 178,730
Investing activities:    
Proceeds from maturities of securities   1,075
Proceeds from sales and calls of available for sale securities 92,980 37,675
Proceeds from sales of equity securities with readily determinable fair values   21,607
Purchases of available for sale securities (380,095) (47,346)
Principal collected on mortgage backed securities 566,455 529,956
Net increase in loans (372,121) (168,823)
Purchases of other investments (33,940) (34,914)
Distributions from other investments 52,693 2,894
Purchases of bank premises and equipment (23,809) (16,256)
Proceeds from sales of bank premises and equipment 3,685 3,633
Proceeds from sales of other real estate owned 1,830 1,413
Net cash (used in) provided by investing activities (92,322) 330,914
Financing activities:    
Net increase in non-interest bearing demand deposits 121,090 188,518
Net decrease in savings and interest bearing demand deposits (13,475) (13,938)
Net increase (decrease) in time deposits 7,901 (73,871)
Net increase (decrease) in securities sold under repurchase agreements 59,345 (20,002)
Net decrease in other borrowed funds (249,109) (520,325)
Redemption of long-term debt (25,774)  
Repurchase of outstanding common stock warrant   (29,005)
Purchase of treasury stock (17,817) (57)
Proceeds from stock transactions 1,517 1,158
Payments of cash dividends - common (32,821) (21,815)
Net cash used in financing activities (149,143) (489,337)
(Decrease) increase in cash and cash equivalents (30,278) 20,307
Cash and cash equivalents at beginning of period 316,797 265,357
Cash and cash equivalents at end of period 286,519 285,664
Supplemental cash flow information:    
Interest paid 43,262 37,051
Income taxes paid 38,591 39,715
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned 21,381 31,609
Dividends declared, not yet paid on common stock 35,848 $ 27,784
Establishment of lease liability and right-of-use asset $ 6,171