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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES    
Net income $ 103,619 $ 104,874
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 16,019 13,600
Provision for loan losses 16,364 18,183
(Gain) loss on sale of investments (5,563) 1
Net accretion of investment securities and assets (22,663) (27,882)
Net amortization (accretion) on borrowings 182 (341)
Stock-based compensation expense 6,249 5,416
(Gain) loss on sale of foreclosed assets held for sale (16) 212
Gain on sale of mortgage loans held for sale (8,257) (5,832)
Deferred income taxes 4,940 2,052
Income from bank owned life insurance (2,136) (2,205)
Originations of mortgage loans held for sale (282,204) (265,704)
Proceeds from sale of mortgage loans held for sale 282,861 255,762
Changes in assets and liabilities:    
Interest receivable (1,494) (555)
Lease right-of-use assets (2,469)  
Other assets 14,999 (7,140)
Accrued interest and other liabilities (4,376) 29,161
Income taxes payable 2,553 (8,947)
Net cash provided by operating activities 118,608 110,655
INVESTING ACTIVITIES    
Net originations of loans (302,151) (519,175)
Decrease in due from banks - time 395 340
Purchases of premises and equipment, net (21,689) (10,360)
Proceeds from sale of foreclosed assets held for sale 9,870 8,983
Proceeds from sale of available-for-sale securities 461,470 7,726
Proceeds from maturities of available-for-sale securities 289,493 122,963
Purchases of available-for-sale securities (384,951) (496,664)
Proceeds from maturities of held-to-maturity securities 25,406 34,958
Purchases of bank owned life insurance 0 (4,000)
Proceeds from bank owned life insurance death benefits 1,310 616
Disposition of assets and liabilities held for sale 1,393 (66,641)
Purchase of Reliance Bancshares, Inc (37,017) 0
Net cash provided by (used in) investing activities 43,529 (921,254)
FINANCING ACTIVITIES    
Net change in deposits (107,806) 860,573
Proceeds from issuance of subordinated notes 0 326,355
Repayments of subordinated debentures 0 (54,642)
Dividends paid on preferred stock (326) 0
Dividends paid on common stock (30,265) (27,922)
Net change in other borrowed funds (178,756) 71,787
Net change in federal funds purchased and securities sold under agreements to repurchase 20,532 (22,643)
Net shares issued under stock compensation plans (3,030) 1,869
Shares issued under employee stock purchase plan 1,312 1,026
Retirement of preferred stock (42,000) 0
Net cash (used in) provided by financing activities (340,339) 1,156,403
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (178,202) 345,804
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 833,458 598,042
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 655,256 $ 943,846