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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
$ in Thousands
6 Months Ended
Jun. 30, 2018
USD ($)
Jun. 30, 2017
USD ($)
Operating Activities    
Net income/(loss) $ 180,986 $ 153,592
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities:    
Provision/(provision credit) for loan losses (1,000) (3,000)
Provision/(benefit) for deferred income taxes 38,030 (16,862)
Depreciation and amortization of premises and equipment 23,761 16,617
Amortization of intangible assets 12,934 3,196
Net other amortization and accretion (8,945) 14,288
Net (increase)/decrease in derivatives (13,735) (13,683)
Fair value adjustment on interest-only strips (1,296) 0
Repurchase and foreclosure provision/(provision credit) 0 (20,000)
(Gains)/losses and write-downs on OREO, net 167 180
Litigation and regulatory matters 688 (753)
Stock-based compensation expense 11,453 9,840
Equity securities (gains)/losses, net (65) 0
Debt securities (gains)/losses, net (52) (449)
Net (gains)/losses on sale/disposal of fixed assets (1,614) (71)
Loans held-for-sale:    
Purchases and originations (1,132,675) (549,331)
Gross proceeds from settlements and sales 524,195 [1] 461,119 [1]
(Gain)/loss due to fair value adjustments and other (8,119) 2,777
Net (increase)/decrease in:    
Trading securities 366,476 (280,135)
Fixed income receivables 545 (70,313)
Interest receivable (9,721) (2,443)
Other assets 31,376 (4,366)
Net increase/(decrease) in:    
Trading liabilities 105,206 (6,055)
Fixed income payables (34,257) (88,920)
Interest payable 3,773 1,303
Other liabilities (44,228) (52,669)
Total adjustments (137,103) (599,730)
Net cash provided/(used) by operating activities 43,883 (446,138)
Available-for-sale securities:    
Sales 13,104 63
Maturities 320,631 268,155
Purchases (254,992) (265,770)
Held-to-maturity securities:    
Prepayments and maturities 0 4,740
Premises and equipment:    
Sales 6,566 2,103
Purchases (25,050) (20,498)
Proceeds from sales of OREO 17,513 7,340
Proceeds from BOLI 7,630 5,690
Net (increase)/decrease in:    
Loans (18,465) (404,379)
Interests retained from securitizations classified as trading securities 567 397
Interest-bearing cash 434,966 490,500
Cash paid related to divestitures (27,599) 0
Cash (paid)/received for acquisition, net (46,017) [2] (123,971) [2]
Net cash provided/(used) by investing activities 428,854 (35,630)
Common stock:    
Stock options exercised 4,420 2,823
Cash dividends paid (60,752) (37,809)
Repurchase of shares (4,790) (4,953)
Cash dividends paid - preferred stock - noncontrolling interest (5,703) (5,672)
Cash dividends paid - Series A preferred stock (3,100) (3,100)
Term borrowings:    
Payments/maturities (5,221) (7,239)
Increases in restricted and secured term borrowings 20,965 0
Net increase/(decrease) in:    
Deposits 387,394 (338,689)
Short-term borrowings (780,976) 917,693
Net cash provided/(used) by financing activities (447,763) 523,054
Net increase/(decrease) in cash and cash equivalents 24,974 41,286
Cash and cash equivalents at beginning of period 1,452,046 1,037,794
Cash and cash equivalents at end of period 1,477,020 1,079,080
Supplemental Disclosures    
Total interest paid 133,791 61,908
Total taxes paid 12,497 21,805
Total taxes refunded 830 8,200
Transfer from loans to OREO 4,010 3,184
Transfer from loans HFS to trading securities 600,168 $ 265,134
Portion of Sub-prime Auto Loan Portfolios    
Loans held-for-sale:    
Gross proceeds from settlements and sales 107,400 [1]  
Supplemental Disclosures    
Loans disposed of $ 120,000  
[1] 2018 includes $107.4 million related to the sale of approximately $120 million UPB of subprime auto loans. See Note 2- Acquisitions and Divestitures for additional information.
[2] See Note 2- Acquisitions and Divestitures for additional information.