XML 18 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 96,160 $ 75,214
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,549 12,440
Stock-based compensation 6,872 5,184
Provision for credit losses 6,102 2,229
Net amortization of premiums and accretion of discounts on securities and borrowings 11,366 7,047
Amortization of other intangible assets 5,098 5,777
Losses (gains) on securities transactions, net 1 (268)
Proceeds from sales of loans held for sale 303,268 185,577
Gains on sales of loans, net (8,919) (4,900)
Originations of loans held for sale (154,475) (171,123)
Losses (gains) on sales of assets, net 453 (699)
Net change in:    
Fair value of borrowings hedged by derivative transactions 0 6,779
Cash surrender value of bank owned life insurance (4,164) (3,781)
Accrued interest receivable (2,916) (1,639)
Other assets (1,521) (17,932)
Accrued expenses and other liabilities (20,709) (743)
Net cash provided by operating activities 249,165 99,162
Cash flows from investing activities:    
Net loan originations and purchases (707,654) (459,154)
Investment securities held to maturity:    
Purchases (60,230) (309,507)
Maturities, calls and principal repayments 157,351 134,389
Investment securities available for sale:    
Purchases (252,770) (432,530)
Sales 0 2,081
Maturities, calls and principal repayments 87,188 760,312
Death benefit proceeds from bank owned life insurance 1,998 0
Proceeds from sales of real estate property and equipment 6,822 9,146
Purchases of real estate property and equipment (12,976) (15,353)
Net cash used in investing activities (780,271) (310,616)
Cash flows from financing activities:    
Net change in deposits (480,690) 102,507
Net change in short-term borrowings 653,484 334,853
Proceeds from issuance of long-term borrowings, net 560,000 0
Repayments of long-term borrowings (175,000) (269,000)
Cash dividends paid to preferred shareholders (3,594) (3,594)
Cash dividends paid to common shareholders (58,000) (55,857)
Purchase of common shares to treasury (2,183) (1,615)
Common stock issued, net 2,377 3,491
Net cash provided by financing activities 496,394 110,785
Net change in cash and cash equivalents (34,712) (100,669)
Cash and cash equivalents at beginning of year 392,501 413,800
Cash and cash equivalents at end of period 357,789 313,131
Cash payments for:    
Interest on deposits and borrowings 100,380 76,693
Federal and state income taxes 7,683 12,964
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 5,865 2,899
Transfer of loans to loans held for sale $ 225,541 $ 0