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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities    
Net income $ 95,944 $ 148,322
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 82,400 1,879
Stock-based compensation expense 7,918 6,827
Depreciation, amortization and accretion 14,456 26,150
Investment securities gain, net 16,674 2,132
Net realized gain on sale of premises and equipment, loans held for investment and OPPO 953 6,787
Net realized gain on sale and valuation adjustments of OREO 64 602
Gain on bank owned life insurance death benefit 0 2,975
Originations of loans held for sale 356,962 134,634
Proceeds from sales of loans held for sale 350,273 123,447
Net change in:    
Interest receivable (9,879) (3,180)
Interest payable (399) 632
Other assets (53,996) (31,840)
Other liabilities 31,703 29,706
Net cash provided by operating activities 143,767 154,813
Cash Flows From Financing Activities    
Loans originated, net of principal collected (938,624) (305,581)
Purchases of debt securities available for sale (996,951) (649,133)
Purchases of loans held for investment 0 57,075
Purchases of premises and equipment (7,538) (5,833)
Purchases of FHLB stock (53,240) (190,800)
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 406,767 287,479
Proceeds from sales of premises and equipment 2,128 7,735
Proceeds from redemption of Federal Home Loan Bank stock 91,080 187,080
Proceeds from sales of other real estate and other personal property owned 1,034 6,433
Proceeds from bank owned life insurance death benefit 1,050 0
Net cash used in investing activities (1,297,189) (460,141)
Cash Flows From Financing Activities    
Net increase in deposits 2,915,565 397,893
Net decrease in sweep repurchase agreements (37,471) (36,605)
Proceeds from FHLB advances 1,331,000 4,770,000
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 2,028 2,025
Repayment of FHLB advances (2,277,000) (4,677,000)
Repayment of FRB borrowings 222,010 36,000
Repayments of other borrowings 9,222 100
Payments for common stock dividends (75,630) (81,822)
Purchase of treasury stock (20,000) (45,380)
Purchase and retirement of common stock 2,498 2,765
Net cash provided by financing activities 1,835,994 326,346
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 682,572 21,018
Cash and cash equivalents at beginning of period 247,673 277,587
Cash and cash equivalents at end of period 930,245 298,605
Supplemental Information:    
Cash paid for interest 15,913 27,623
Cash paid for income tax, net of refunds 32,745 33,134
Non-cash investing and financing activities    
Loans transferred to OREO 1,033 386
Premises and equipment expenditures incurred but not yet paid 301 152
Change in dividends payable on unvested shares included in other liabilities $ 522 $ 252