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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 184,540 $ 153,134
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 39,165 57
Net amortization of debt securities 10,830 11,687
Net accretion of purchase accounting adjustments and deferred loan fees and costs (23,369) (2,680)
Amortization of debt modification costs 0 4,630
Origination of loans held for sale (1,393,224) (671,038)
Proceeds from loans held for sale 1,400,697 633,085
Gain on sale of loans (73,236) (23,929)
Gain on sale of debt securities (1,015) (14,158)
Bank-owned life insurance income, net (2,059) (1,629)
Stock-based compensation, net of tax benefits 2,829 6,554
Depreciation and amortization of premises and equipment 15,124 13,713
Gain on sale and write-downs of other real estate owned, net (64) (288)
Amortization of core deposit intangibles 7,758 5,919
Amortization of investments in variable interest entities 8,244 6,767
Net increase in accrued interest receivable (33,558) (5,348)
Net increase in other assets (22,729) (367)
Net (decrease) increase in accrued interest payable (861) 61
Net decrease in other liabilities (5,315) (1,730)
Net cash provided by operating activities 113,757 114,440
Investing Activities    
Sales of available-for-sale debt securities 0 711,268
Maturities, prepayments and calls of available-for-sale debt securities 545,191 457,299
Purchases of available-for-sale debt securities (1,839,308) (839,835)
Maturities, prepayments and calls of held-to-maturity debt securities 29,530 48,940
Principal collected on loans 2,978,796 2,497,073
Loan originations (4,627,653) (2,900,692)
Net additions to premises and equipment (8,140) (14,230)
Proceeds from sale of other real estate owned 2,140 2,960
Proceeds from redemption of non-marketable equity securities 76,275 115,436
Purchases of non-marketable equity securities (71,397) (93,397)
Investments in variable interest entities (7,975) (7,956)
Net cash received from acquisitions 43,713 79,334
Net cash (used in) provided by investing activities (2,878,828) 56,200
Financing Activities    
Net increase in deposits 2,920,429 377,986
Net increase in securities sold under agreements to repurchase 388,595 161,191
Net decrease in short-term Federal Home Loan Bank advances (30,000) (285,000)
Proceeds from long-term Federal Home Loan Bank advances 30,000 0
Repayments of long-term Federal Home Loan Bank advances (31,271) (151,073)
Net increase in other borrowed funds 463 97
Cash dividends paid (73,999) (70,970)
Tax withholding payments for stock-based compensation (1,023) (277)
Proceeds from stock option exercises 795 0
Net cash provided by financing activities 3,203,989 31,954
Net increase in cash, cash equivalents and restricted cash 438,918 202,594
Cash, cash equivalents and restricted cash at beginning of period 330,961 203,790
Cash, cash equivalents and restricted cash at end of period 769,879 406,384
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 22,626 33,878
Cash paid during the period for income taxes 43,944 33,032
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Sale and refinancing of other real estate owned 215 7
Transfer of loans to other real estate owned 2,062 2,347
Right-of-use assets obtained in exchange for operating lease liabilities 7,343 3,910
Dividends declared during the period but not paid 28,799 26,874
Acquisitions    
Fair value of common stock shares issued 112,133 316,538
Cash consideration 13,721 16,424
Fair value of assets acquired 745,420 1,190,267
Liabilities assumed $ 619,565 $ 1,024,141