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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 147,918 $ 134,743 $ 50,244
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan and lease losses 25,560 13,170 10,964
Depreciation of premises and equipment, net 15,852 8,329 8,557
(Accretion) amortization of fees, premiums and discounts, net (45,548) 15,255 19,082
Amortization of intangible assets 11,113 2,942 3,078
Amortization of right of use lease asset 22,850    
Accretion of the discounted lease liability (12,507)   0
Debt extinguishment cost 0 0 695
Stock-based compensation expense 3,608 2,292 3,396
Unrealized gains on equity investments (26,175) (20,745) 0
Deferred income tax expense 7,074 3,378 17,899
(Recovery of) provision for legal settlement 0 0 12,000
Increase in value of bank-owned life insurance (806) (158) (1,130)
Increase in capitalized interest, net (3,390) (3,601) (4,228)
Decrease (increase) in accrued interest receivable 1,406 (2,596) (2,378)
Increase in other assets (4,676) (6,297) (2,517)
Origination of loans held-for-sale (479,289) (351,108) (354,659)
Proceeds from sales of loans held-for-sale 406,012 352,002 369,986
Gain on mortgage banking activities, net (11,053) (6,286) (6,293)
Gain on sale of securities, net (333) (21) (1,984)
Realized gains on sale of equity investment 0 (3,757) 0
Increase (decrease) in accrued interest payable 1,203 863 (114)
Increase (decrease) in other liabilities 30,922 (2,931) 7,353
Loss on sale of other real estate owned and valuation adjustments, net 125 100 217
Net cash provided by operating activities 89,866 135,574 130,168
Investing activities:      
Repayments, maturities and calls of investment securities held to maturity 16,170 9,245 1,230
Sale of investment securities available-for-sale 618,194 7,012 457,046
Purchases of investment securities available-for-sale (958,259) (498,465) (696,581)
Repayments of investment securities available-for-sale 269,697 112,665 197,765
Proceeds from BOLI surrender/death benefit 59,710 96,429 371
Net cash for business combinations 76,072 0 0
Net decrease (increase) in loans 201,934 (101,174) (343,858)
Purchases of Visa Class B shares 0 (1,568) (10,072)
Sale of Visa Class B shares 0 6,186 0
Purchases of FHLB stock (394,428) (169,613) (160,089)
Redemption of FHLB stock 415,771 181,638 167,053
Sales of assets acquired through foreclosure, net 3,089 3,037 6,077
Sale of premise and equipment 71 198 0
Investment in premises and equipment, net (14,198) (5,500) (7,728)
Net cash provided by (used for) investing activities 293,823 (359,910) (388,786)
Financing activities:      
Net increase in demand and saving deposits 69,761 393,827 353,521
(Decrease) increase in time deposits (55,400) 43,871 35,887
(Decrease) increase in brokered deposits (156,396) (31,712) 90,482
Decrease in loan payable 0 0 (338)
Receipts from FHLB advances 32,320,456 83,721,532 143,852,751
Repayments of FHLB advances (32,536,246) (84,103,068) (143,996,986)
Receipts from federal funds purchased 32,252,775 21,239,675 23,008,000
Repayments of federal funds purchased (32,215,750) (21,109,700) (23,110,000)
Dividends paid (22,463) (13,249) (9,425)
Issuance of common stock and exercise of common stock options 7,755 11,253 3,421
Redemption of senior debt 0 0 (55,000)
Purchase of treasury stock (97,186) (31,202) (11,752)
Net cash (used for) provided by financing activities (432,694) 121,227 160,561
(Decrease) increase in cash and cash equivalents (49,005) (103,109) (98,057)
Cash and cash equivalents at beginning of period 620,757 723,866 821,923
Cash and cash equivalents at end of period 571,752 620,757 723,866
Supplemental Disclosure of Cash Flow Information:      
Cash paid for interest during the period 74,942 45,636 33,569
Income Taxes Paid, Net 33,843 33,316 31,441
Non-cash information:      
Loans transferred to other real estate owned 2,541 3,302 5,206
Loans transferred to portfolio from held-for-sale at fair value 24,862 9,553 13,142
Fair value of assets acquired, net of cash received 5,032,156 0 0
Fair value of liabilities assumed 5,108,228 0 0
Non-cash goodwill adjustments, net 0 $ 0 $ (1,532)
Right of use asset 121,288    
Lease liability $ 132,346