XML 56 R6.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 98,286 $ 91,037
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,213 14,562
Stock-based compensation 6,512 5,582
Provision for credit losses 4,594 (2,096)
Net amortization of premiums and accretion of discounts on securities and borrowings 17,595 18,324
Amortization of other intangible assets 6,721 6,898
Gains on securities transactions, net (2,481) (102)
Proceeds from sales of loans held for sale 94,342 75,182
Gains on sales of loans, net (3,034) (1,497)
Originations of loans held for sale (86,274) (67,483)
Losses (gains) on sales of assets, net 77 (211)
FDIC loss-share receivable (excluding reimbursements) 3,380 11,610
Net change in:    
Trading securities 14,233 78
Fair value of borrowings hedged by derivative transactions 3,270 0
Cash surrender value of bank owned life insurance (5,188) (4,593)
Accrued interest receivable (199) 419
Other assets (33,555) 57,493
Accrued expenses and other liabilities 12,490 (36,048)
Net cash provided by operating activities 145,982 169,155
Cash flows from investing activities:    
Net loan originations (486,862) (495,941)
Loans purchased (1,066,934) (128,684)
Investment securities held to maturity:    
Purchases (201,681) (358,393)
Sales 11,666 0
Maturities, calls and principal repayments 321,771 268,868
Investment securities available for sale:    
Purchases (38,819) (20,830)
Sales 14,022 5,447
Maturities, calls and principal repayments 115,397 106,323
Proceeds from sales of real estate property and equipment 10,510 16,317
Purchases of real estate property and equipment (23,139) (18,106)
Reimbursements from the FDIC 2,835 4,967
Net cash used in investing activities (1,341,234) (620,032)
Cash flows from financing activities:    
Net change in deposits 465,747 542,225
Net change in short-term borrowings 156,160 16,264
Proceeds from issuance of long-term borrowings, net 98,930 0
Repayments of long-term borrowings (100,000) 0
Proceeds from issuance of preferred stock, net 111,590 0
Cash dividends paid to preferred shareholders (2,017) 0
Cash dividends paid to common shareholders (76,671) (66,047)
Purchase of common shares to treasury (2,108) (946)
Common stock issued, net 4,993 3,667
Net cash provided by financing activities 656,624 495,163
Net change in cash and cash equivalents (538,628) 44,286
Cash and cash equivalents at beginning of year 830,407 369,168
Cash and cash equivalents at end of period 291,779 413,454
Supplemental disclosures of cash flow information:    
Interest on deposits and borrowings 121,907 120,086
Federal and state income taxes 49,932 28,669
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 8,711 9,053
Transfer of loans to loans held for sale $ 0 $ 27,329