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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities    
Net income $ 106,892 $ 51,210
Adjustments to reconcile net income to net cash provided by operating activities    
Provision (recapture) for credit losses (6,300) 75,000
Stock-based compensation expense 6,936 4,909
Depreciation, amortization and accretion 7,056 10,382
Investment securities gain, net 314 16,674
Net realized gain on sale of premises and equipment, loans held for investment and OPPO 279 705
Net realized loss on sale and valuation adjustments of OREO (40) (18)
Gain on bank owned life insurance death benefit 209 0
Originations of loans held for sale 195,632 217,017
Proceeds from sales of loans held for sale 208,789 205,932
Change in fair value of loans held for sale 145 0
Net change in:    
Interest receivable 2,484 (12,310)
Interest payable (49) (219)
Other assets 12,583 (93,919)
Other liabilities (14,700) 76,500
Net cash provided by operating activities 127,442 83,107
Cash Flows From Investing Activities    
Loans originated, net of principal collected (177,399) (1,026,250)
Purchases of debt securities available for sale (1,527,512) (259,236)
Purchases of debt securities held to maturity (22,915) 0
Purchases of loans held for investment 74,383 0
Purchases of premises and equipment (3,087) (4,490)
Purchases of FHLB stock 0 (53,240)
Proceeds from sale of debt securities, available-for-sale 26,914 194,105
Proceeds from sale of equity securities 0 3,000
Proceeds from principal repayments and maturities of debt securities available for sale 385,408 265,072
Proceeds from repayments and maturities of securities held to maturity 8,711 0
Proceeds from sales of premises and equipment 4,296 932
Proceeds from redemption of Federal Home Loan Bank stock 0 85,080
Proceeds from sales of other real estate and other personal property owned 132 353
Proceeds from bank owned life insurance death benefit 671 1,050
Net cash used in investing activities (1,379,164) (793,624)
Cash Flows From Financing Activities    
Net increase in deposits 1,475,570 2,446,782
Net decrease in sweep repurchase agreements (2,865) (12,958)
Proceeds from FHLB advances 10 1,331,000
Proceeds from FRB borrowings 0 222,010
Proceeds from other borrowings 0 9,222
Proceeds from exercise of stock options and employee stock purchase plan 1,098 945
Repayment of FHLB advances (10) (2,127,000)
Repayment of FRB borrowings 0 222,010
Repayments of other borrowings 0 9,222
Payments for common stock dividends (40,244) (55,750)
Purchase of treasury stock 0 (20,000)
Purchase and retirement of common stock 4,071 2,482
Net cash provided by financing activities 1,429,488 1,560,537
Increase (decrease) in cash and cash equivalents 177,766 850,020
Cash and cash equivalents at beginning of period 653,766 247,673
Cash and cash equivalents at end of period 831,532 1,097,693
Supplemental Information:    
Cash paid for interest 4,082 13,075
Income Taxes Paid, Net 28,474 21,501
Non-cash investing and financing activities    
Securities transfer from AFS to HTM, fair value 2,012,123 0
Loans transferred to OREO 0 558
Premises and equipment expenditures incurred but not yet paid 0 9
Change in dividends payable on unvested shares included in other liabilities $ (122) $ 296