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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 67,420 $ 77,236
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 12,323 11,843
Provision for credit loss expense 1,445 23,134
Gain on sale of investments (5,471) (32,095)
Net accretion of investment securities and assets (12,018) (14,975)
Net amortization on borrowings 134 136
Stock-based compensation expense 3,852 4,506
Gain on sale of premises held for sale (177) 0
Gain on sale of foreclosed assets held for sale (134) (520)
Gain on sale of mortgage loans held for sale (11,409) (5,843)
Gain on sale of other intangibles 0 (301)
Gain on sale of banking operations (5,300) (5,889)
Deferred income taxes 3,227 (1,586)
Income from bank owned life insurance (1,534) (1,800)
Originations of mortgage loans held for sale (298,914) (182,550)
Proceeds from sale of mortgage loans held for sale 384,046 196,511
Changes in assets and liabilities:    
Interest receivable 1,237 5,058
Other assets (30,187) 1,325
Accrued interest and other liabilities (20,733) 50,643
Income taxes payable (12,055) (21,221)
Net cash provided by operating activities 75,752 103,612
INVESTING ACTIVITIES    
Net change in loans 705,540 (49,104)
Proceeds from sale of loans 1,847 0
Decrease in due from banks - time 245 245
Purchases of premises and equipment, net (2,514) (10,570)
Proceeds from sale of premises held for sale 1,572 0
Proceeds from sale of foreclosed assets held for sale 8,338 2,464
Proceeds from sale of available-for-sale securities 135,651 1,076,858
Proceeds from maturities of available-for-sale securities 185,636 1,255,991
Purchases of available-for-sale securities (1,464,377) (1,458,730)
Proceeds from maturities of held-to-maturity securities 4,426 3,561
Purchases of held-to-maturity securities (280,043) (16,997)
Proceeds from bank owned life insurance death benefits 573 763
Disposition of assets and liabilities held for sale (134,166) 123,610
Net cash (used in) provided by investing activities (837,272) 928,091
FINANCING ACTIVITIES    
Net change in deposits 1,192,740 (503,567)
Dividends paid on preferred stock (13) (13)
Dividends paid on common stock (19,500) (19,077)
Net change in other borrowed funds (1,600) 99,230
Net change in federal funds purchased and securities sold under agreements to repurchase 23,942 227,714
Net shares issued (cancelled) under stock compensation plans 1,172 (3,063)
Shares issued under employee stock purchase plan 1,170 956
Repurchases of common stock (3,080) (93,307)
Net cash provided by (used in) financing activities 1,194,831 (291,127)
INCREASE IN CASH AND CASH EQUIVALENTS 433,311 740,576
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,472,152 996,623
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 3,905,463 $ 1,737,199