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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 34,838 $ 51,906
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss expenses 16,836 7,420
Specific reserve, other real estate owned 537 8
Depreciation of bank premises and equipment 7,109 6,981
Gain on sale of bank premises and equipment (358) (43)
Gain on sale of other real estate owned (79) (469)
Accretion of investment securities discounts (120) (55)
Amortization of investment securities premiums 7,373 4,024
Investment securities transactions, net 5 4
Unrealized gain on equity securities with readily determinable fair values (30) (138)
Stock based compensation expense 219 265
Losses (earnings) from affiliates and other investments 521 (3,444)
Deferred tax expense (14,123) (1,435)
Increase in accrued interest receivable (450) (603)
Increase in other assets (228) (20,685)
Increase in other liabilities 4,571 23,962
Net cash provided by operating activities 56,621 67,698
Investing activities:    
Proceeds from maturities of securities 1,075  
Proceeds from sales and calls of available for sale securities 18,920 41,420
Purchases of available for sale securities (421,017) (145,966)
Principal collected on mortgage backed securities 257,223 132,820
Net increase in loans (120,789) (147,124)
Purchases of other investments (6,760) (13,045)
Distributions from other investments 26,382 46,677
Purchases of bank premises and equipment (2,769) (6,130)
Proceeds from sales of bank premises and equipment 370 1,510
Proceeds from sales of other real estate owned 2,034 707
Net cash used in investing activities (245,331) (89,131)
Financing activities:    
Net increase in non-interest bearing demand deposits 118,934 103,879
Net decrease (increase) in savings and interest-bearing demand deposits 22,127 78,512
Net increase (decrease) in time deposits 42,793 16,994
Net increase (decrease) in securities sold under repurchase agreements 29,936 48,641
Net decrease (increase) in other borrowed funds 101,954 (194,770)
Purchase of treasury stock (29,371) (54)
Proceeds from stock transactions 225 598
Net cash (used in) provided by financing activities 286,598 53,800
(Decrease) increase in cash and cash equivalents 97,888 32,367
Cash and cash equivalents at beginning of period 256,820 316,797
Cash and cash equivalents at end of period 354,708 349,164
Supplemental cash flow information:    
Interest paid 13,353 13,982
Income taxes paid 206  
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned 486 704
Dividends declared, not yet paid on common stock 35,128 32,822
Establishment of lease liability and right-of-use asset   $ 6,171
Net transfers from bank premises and equipment to other assets $ 7,546