XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 171,764 $ 213,289
Adjustments reconciling net income to net cash provided by (used in) operating activities:    
Depreciation 9,191 8,226
Net losses on sale or disposal of premises and equipment 39 920
Net write-downs on other assets 0 149
Provision for credit losses 21,155 (28,449)
Net write-downs and (gains) losses on sale of other real estate owned (1,758) (558)
Share-based compensation expense 3,045 3,454
Amortization of intangible assets 10,325 8,191
Amortization of operating lease right of use assets 5,750 5,866
Provision for deferred taxes 10,505 26,488
Net amortization of investment securities available-for-sale 588 1,985
Net amortization of investment securities held-to-maturity 51 1
Net amortization of other investments 396 0
Net (gain) loss on securities (221) 11
Accretion of discount on purchased loans, net (627) (10,589)
Net amortization on other borrowings 216 222
Amortization of subordinated deferrable interest debentures 997 986
Loan servicing asset recovery (20,492) (11,388)
Originations of mortgage loans held for sale (2,406,310) (4,425,420)
Payments received on mortgage loans held for sale 19,746 24,477
Proceeds from sales of mortgage loans held for sale 2,833,622 4,198,098
Net (gains) losses on sale of mortgage loans held for sale 78,173 (84,992)
Originations of SBA loans (30,793) (44,257)
Proceeds from sales of SBA loans 40,286 41,017
Net gains on sale of SBA loans (3,484) (3,453)
Increase in cash surrender value of bank owned life insurance (3,716) (2,078)
Gain on bank owned life insurance proceeds 0 (603)
Net gains on other loans held for sale 0 (457)
Change attributable to other operating activities (24,580) (13,363)
Net cash provided by (used in) operating activities 713,868 (92,227)
Investing Activities, net of effects of business combinations    
Proceeds from maturities of time deposits in other banks 0 249
Purchases of securities available-for-sale (613,715) 0
Purchases of investment securities held-to-maturity (33,217) (29,056)
Proceeds from maturities and paydowns of securities available-for-sale 117,664 192,022
Proceeds from maturities and paydowns of securities held-to-maturity 1,362 0
Net (increase) decrease in other investments (2,123) 570
Net increase in loans (1,533,706) (219,110)
Purchases of premises and equipment (8,192) (17,196)
Proceeds from sale of premises and equipment 46 946
Proceeds from sales of other real estate owned 4,962 7,902
Purchases of bank owned life insurance (50,000) (100,000)
Proceeds from bank owned life insurance 0 1,309
Payments received on other loans held for sale 0 9,136
Proceeds from sales of other loans held for sale 0 156,803
Net cash and cash equivalents paid in acquisitions (14,003) 0
Net cash provided by (used in) investing activities (2,130,922) 3,575
Financing Activities, net of effects of business combinations    
Net increase in deposits 19,429 1,300,174
Net decrease in securities sold under agreements to repurchase (4,892) (6,097)
Repayment of other borrowings (314,503) (74)
Proceeds from exercise of stock options 2,324 4,211
Dividends paid - common stock (20,843) (20,888)
Purchase of treasury shares (22,282) (1,456)
Net cash provided by (used in) financing activities (340,767) 1,275,870
Net increase (decrease) in cash, cash equivalents and restricted cash (1,757,821) 1,187,218
Cash, cash equivalents and restricted cash at beginning of period 4,064,657 2,117,306
Cash, cash equivalents and restricted cash at end of period 2,306,836 3,304,524
Cash paid during the period for:    
Interest 23,472 25,985
Income taxes 51,851 30,924
Loans transferred to other real estate owned 229 1,239
Loans transferred from loans held for sale to loans held for investment 167,727 85,748
Loans provided for the sales of other real estate owned 2,288 1,052
Right-of-use assets obtained in exchange for new operating lease liabilities 1,537 2,932
Assets acquired in business acquisitions 10,734 0
Liabilities assumed in business acquisitions (3,269) 0
Change in unrealized gain (loss) on securities available-for-sale, net of tax $ (28,225) $ (8,481)