XML 20 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 118,191 $ 126,179
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 11,946 11,781
Amortization of intangible assets 10,772 11,994
Net accretion on securities, loans and borrowings (7,954) (4,545)
Stock-based compensation 4,648 3,998
Provision for credit losses 17,313 5,573
Amortization of mortgage servicing rights 266 285
Gain on sale of investment securities, net 0 (4,882)
Unrealized loss (gain) on equity securities 30 (28)
Income from bank-owned life insurance policies (1,398) (1,215)
Net gain on sale of loans and other assets (1,633) (2)
Change in other assets and other liabilities (26,944) (20,152)
Net cash provided by operating activities 125,237 128,986
Investing activities:    
Proceeds from sales of available-for-sale investment securities 0 590,179
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities 219,503 153,785
Proceeds from maturities and redemptions of equity and other investment securities 436 3,258
Purchases of available-for-sale investment securities (91,381) (86,073)
Purchases of equity and other securities (3,064) (144)
Net increase in loans (228,235) (100,020)
Cash received (paid) for acquisitions, net of cash acquired of $55,973 and $90,381, respectively 34,360 (4,653)
Settlement of bank-owned life insurance policies 0 1,597
Purchases of premises and equipment, net (8,727) (5,025)
Real estate tax credit investments (1,071) (1,342)
Net cash (used in) provided by investing activities (78,179) 551,562
Financing activities:    
Net increase in deposits 1,609,349 277,833
Net increase (decrease) in borrowings 28,690 (80,502)
Payments on subordinated debt held by unconsolidated subsidiary trusts (2,062) (22,681)
Issuance of common stock 14,141 2,512
Purchases of treasury stock (204) (213)
Sales of treasury stock 85 6,662
Increase in deferred compensation arrangements 204 213
Cash dividends paid (64,593) (59,014)
Withholding taxes paid on share-based compensation (1,177) (3,150)
Net cash provided by financing activities 1,584,433 121,660
Change in cash and cash equivalents 1,631,491 802,208
Cash and cash equivalents at beginning of period 205,030 211,834
Cash and cash equivalents at end of period 1,836,521 1,014,042
Supplemental disclosures of cash flow information:    
Cash paid for interest 16,927 18,455
Cash paid for income taxes 28,705 34,150
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 22,658 21,282
Transfers from loans to other real estate 1,192 1,833
Acquisitions:    
Common stock issued 76,942 0
Fair value of assets acquired, excluding acquired cash and intangibles 547,623 548,856
Fair value of liabilities assumed $ 529,441 $ 589,396