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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows From Operating Activities    
Net income $ 148,322 $ 128,134
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan and lease losses 1,879 12,980
Stock-based compensation expense 6,827 6,231
Depreciation, amortization and accretion 26,150 25,807
Investment securities (gain) loss, net 2,132 (73)
Net realized (gain) loss on sale of premises and equipment and loans held for investment 6,787 (142)
Net realized (gain) loss on sale and valuation adjustments of OREO 602 (1,299)
Gain on bank owned life insurance death benefit 2,975 0
Originations of loans held for sale 134,634 103,614
Proceeds from sales of loans held for sale 123,447 104,105
Net change in:    
Interest receivable (3,180) (7,595)
Interest payable 632 618
Other assets (31,840) (2,599)
Other liabilities 29,706 5,662
Net cash provided by operating activities 154,813 171,243
Cash Flows From Investing Activities    
Loans originated, net of principal collected (1) (305,581) (121,413) [1]
Purchases of debt securities available for sale (649,133) (606,052)
Purchases of loans held for investment (1) (57,075) (46,969) [1]
Purchases of premises and equipment (5,833) (8,253)
Payments to Acquire Federal Home Loan Bank Stock (190,800) (136,120)
Proceeds from sales of debt securities available for sale 259,554 32,330
Proceeds from principal repayments and maturities of debt securities available for sale 287,479 311,956
Proceeds from Sales of Assets, Investing Activities 7,735 14,956
Proceeds from redemption of Federal Home Loan Bank Stock 187,080 129,920
Proceeds from sales of other real estate and other personal property owned 6,433 5,868
Proceeds from Life Insurance Policy 0 5,074
Net cash used in investing activities (460,141) (418,703)
Cash Flows From Financing Activities    
Net increase in deposits 397,893 72,151
Net increase (decrease) in sweep repurchase agreements (2) (36,605) 8,138 [2]
Proceeds from Federal Home Loan Bank advances 4,770,000 3,403,000
Proceeds from FRB borrowings 36,000 5,010
Proceeds from Other Debt 100 0
Proceeds from exercise of stock options 2,025 1,857
Repayment of Federal Home Loan Bank advances (4,677,000) (3,248,000)
Repayment of FRB borrowings 36,000 5,010
Repayments of Other Debt (100) 0
Repayments of junior subordinated debt 0 8,248
Repayment of term repurchase agreement (2) 0 (25,000) [2]
Payment of common stock dividends (81,822) (54,149)
Purchase and retirement of common stock (45,380) 0
Payment, Tax Withholding, Share-based Payment Arrangement 2,765 2,660
Net cash provided by financing activities 326,346 147,089
Increase (decrease) in cash and cash equivalents 21,018 (100,371)
Cash and cash equivalents at beginning of period 277,587 342,533
Cash and cash equivalents at end of period 298,605 242,162
Supplemental Information:    
Cash paid for interest 27,623 11,699
Cash paid for income tax 33,134 12,768
Non-cash investing and financing activities    
Loans transferred to other real estate owned 386 1,200
Premises and equipment expenditures incurred but not yet paid 152 464
Change in dividends payable on unvested shares $ 252 $ 6
[1] Revised from amounts previously reported to correct an immaterial misclassification of $47.0 million of purchases of loans held for investment within loans originated, net of principal collected, for the nine months ended September 30, 2018. There were no changes to net cash flows from operating, investing or financing activities as a result of this change.
[2] Revised from amounts previously reported to correct an immaterial misclassification of a $25.0 million repayment of the term repurchase agreement within net increase (decrease) in sweep repurchase agreements for the nine months ended September 30, 2018. There were no changes to net cash flows from operating, investing or financing activities as a result of this change.