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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities    
Net income $ 51,210 $ 97,595
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 75,000 1,580
Stock-based compensation expense 4,909 4,528
Depreciation, amortization and accretion 10,382 17,298
Investment securities gain, net 16,674 2,132
Net realized gain on sale of premises and equipment and OPPO 705 666
Net realized loss (gain) on sale and valuation adjustments of OREO (18) 507
Gain on bank owned life insurance death benefit 0 2,975
Originations of loans held for sale 217,017 68,722
Proceeds from sales of loans held for sale 205,932 60,382
Net change in:    
Interest receivable (12,310) (1,555)
Interest payable (219) 1,608
Other assets (93,919) (16,484)
Other liabilities 76,500 8,560
Net cash provided by operating activities 83,107 98,510
Cash Flows From Investing Activities    
Loans originated, net of principal collected (1,026,250) (207,641)
Purchases of debt securities available for sale (259,236) (54,405)
Purchases of loans held for investment 0 49,039
Purchases of premises and equipment (4,490) (3,540)
Purchases of FHLB stock (53,240) (117,240)
Proceeds from sale of debt securities, available-for-sale 194,105 259,554
Proceeds from sale of equity securities 3,000 0
Proceeds from principal repayments and maturities of debt securities available for sale 265,072 182,125
Proceeds from sales of premises and equipment 932 24
Proceeds from redemption of Federal Home Loan Bank stock 85,080 113,400
Proceeds from sales of other real estate and other personal property owned 353 5,823
Proceeds from bank owned life insurance death benefit 1,050 0
Net cash provided by (used in) investing activities (793,624) 129,061
Cash Flows From Financing Activities    
Net increase (decrease) in deposits 2,446,782 (246,404)
Net decrease in sweep repurchase agreements (12,958) (10,868)
Proceeds from FHLB advances 1,331,000 2,931,000
Proceeds from FRB borrowings 222,010 36,000
Proceeds from other borrowings 9,222 100
Proceeds from exercise of stock options and employee stock purchase plan 945 893
Repayment of FHLB advances (2,127,000) (2,835,000)
Repayment of FRB borrowings 222,010 36,000
Repayments of other borrowings 9,222 100
Payments for common stock dividends (55,750) (61,511)
Purchase of treasury stock (20,000) (21,863)
Purchase and retirement of common stock 2,482 2,746
Net cash provided by (used in) financing activities 1,560,537 (246,499)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 850,020 (18,928)
Cash and cash equivalents at beginning of period 247,673 277,587
Cash and cash equivalents at end of period 1,097,693 258,659
Supplemental Information:    
Cash paid for interest 13,075 16,564
Cash paid for income tax, net of refunds 21,501 20,940
Non-cash investing and financing activities    
Loans transferred to OREO 558 386
Premises and equipment expenditures incurred but not yet paid 9 56
Change in dividends payable on unvested shares included in other liabilities $ 296 $ 145