XML 22 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net income $ 202,820 $ 154,244 $ 194,451
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 4,800 77,700 3,493
Stock-based compensation expense 14,926 10,737 9,271
Depreciation, amortization and accretion 23,168 14,893 34,213
Investment securities gain, net (314) (16,710) (2,132)
Net realized gain on sale of premises and equipment, loans held for investment and OPPO (500) (1,334) (7,317)
Net realized loss (gain) on sale and valuation adjustments of OREO (40) 34 602
Gain on bank owned life insurance death benefit (344) 0 (3,051)
Originations of loans held for sale (336,455) (491,385) (210,484)
Proceeds from sale of loans held-for-sale 352,823 483,130 196,615
Change in Fair Value of Loans Held-for-sale 339 (508) 0
Deferred income tax expense (benefit) (6,629) (13,768) 330
Net change in:      
Interest receivable 4,049 (7,992) (1,516)
Interest payable 62 (933) 632
Other assets 6,815 (48,539) (23,464)
Other liabilities (30,535) 32,791 14,308
Net cash provided by operating activities 235,065 192,292 204,747
Cash Flows From Investing Activities      
Loans originated, net of principal collected 174,463 (619,543) (291,857)
Investment in low income housing tax credit partnerships (1,408) 0 0
Purchases of Debt Securities, Available-for-sale (3,128,233) (2,118,667) (1,196,895)
Purchases of Held-to-maturity Securities (257,503) 0 0
Purchases of loans held for investment 279,734 50,035 57,075
Purchases of premises and equipment (6,125) (8,720) (8,447)
Purchases of Federal Home Loan Bank stock (1) (53,240) (273,800)
Proceeds from Sale of Debt Securities, Available-for-sale 89,219 194,697 259,554
Proceeds from Sale of Equity Securities 0 3,000 0
Proceeds from principal repayments and maturities of securities available for sale 764,253 603,129 428,025
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities 107,578 0 0
Proceeds from sales of premises and equipment and loans held for investment 15,880 2,948 8,634
Proceeds from redemption of Federal Home Loan Bank Stock 7,464 91,080 251,640
Proceeds from sales of other real estate owned and other personal property owned 132 1,074 6,506
Proceeds from bank owned life insurance death benefit 671 1,050 8,265
Proceeds from Termination of Cash Flow Hedging Instrument 0 34,442 0
Net cash received in business combinations 154,984 0 0
Net cash used in investing activities (2,358,360) (1,918,785) (865,450)
Cash Flows From Financing Activities      
Net increase in deposits 2,402,669 3,185,167 226,958
Net increase in sweep repurchase agreements 12,154 9,422 3,343
Proceeds from employee stock purchase plan 2,350 2,028 2,025
Proceeds from Federal Home Loan Bank advances 30 1,331,000 6,845,000
Proceeds from Federal Reserve Bank borrowings 40 222,010 36,000
Proceeds from other borrowings 0 9,222 100
Payments for Federal Home Loan Bank advances (30) (2,277,000) (6,291,000)
Payments for Federal Reserve Bank borrowings (40) (222,010) (36,000)
Payments for other borrowings 0 (9,222) (100)
Payments for common stock dividends (83,790) (95,509) (101,911)
Repayments of Subordinated Debt (35,000) 0 0
Payments for purchase of treasury stock 0 (20,000) (50,834)
Payments for purchase and retirement of common stock 4,140 2,522 2,792
Net cash provided by financing activities 2,294,243 2,132,586 630,789
Increase (decrease) in cash and cash equivalents 170,948 406,093 (29,914)
Cash and cash equivalents at beginning of period 653,766 247,673 277,587
Supplemental Information:      
Interest paid 8,484 18,631 35,916
Income taxes paid, net of refunds 60,562 43,287 47,375
Non-cash investing and financing activities:      
Transfer of debt securities AFS to HTM 2,012,123 0 0
Loans transferred to OREO 0 1,033 386
Common stock issued in connection with acquistion 256,061 0 0
Premises and equipment expenditures incurred but not yet paid 63 302 451
Change in dividends payable on unvested shares included in other liabilities $ 51 $ 706 $ 354