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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net income $ 271,156 $ 254,904 $ 238,167
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 47,220 49,038 36,257
Provision for credit losses (32,704) 74,973 43,240
Gain on sale of investments (15,498) (54,806) (13,314)
Net accretion of investment securities and assets (52,781) (56,771) (53,619)
Net amortization on borrowings 1,257 541 394
Stock-based compensation expense 15,868 13,197 12,921
Gain on sale of premises and equipment, net of impairment (591) (14) 0
Gain on sale of foreclosed assets and other real estate owned (932) (391) (33)
Gain on sale of mortgage loans held for sale (36,434) (44,864) (20,064)
Gain on sale of other intangibles 0 (301) 0
Gain on sale of branches (5,316) (8,094) 0
Loss on sale of loans 0 0 4,451
Gain on sale of Visa, Inc. class B common stock 0 0 (42,860)
Fair value write-down of closed branches 0 434 0
Deferred income taxes 10,937 (122) 34,911
Income from bank owned life insurance (9,477) (7,206) (4,854)
Originations of mortgage loans held for sale (1,034,716) (1,206,818) (755,500)
Proceeds from sale of mortgage loans held for sale 1,190,891 1,172,406 756,642
Changes in assets and liabilities:      
Interest receivable 4,423 (10,846) 3,231
Other assets (33,495) (7,480) 31,920
Accrued interest and other liabilities (50,620) 50,508 (35,886)
Income taxes payable 8,592 (15,745) 20,074
Net cash provided by operating activities 277,780 202,543 256,078
INVESTING ACTIVITIES      
Net collections (originations) of loans 2,333,893 1,327,248 23,806
Proceeds from sale of loans 28,033 49,736 104,587
Decrease in due from banks - time 292 2,975 1,130
Purchases of premises and equipment, net (47,861) (13,272) (67,831)
Proceeds from sale of premises and equipment 5,621 369 0
Proceeds from sale of foreclosed assets and other real estate owned 21,983 10,788 17,986
Proceeds from sale of available-for-sale securities 342,577 1,717,364 1,226,578
Proceeds from maturities of available-for-sale securities 1,001,669 2,346,930 793,270
Purchases of available-for-sale securities (5,266,148) (4,140,963) (1,708,948)
Proceeds from maturities of held-to-maturity securities 15,712 13,970 31,969
Purchases of held-to-maturity securities (708,580) (308,854) 0
Proceeds from bank owned life insurance death benefits 3,814 2,018 2,435
Purchases of bank owned life insurance (160,000) 0 0
Cash received in business combinations, net 25,425 0 178,260
Disposition of assets and liabilities held for sale (134,166) 181,560 1,235
Net cash provided by (used in) investing activities (2,537,736) 1,189,869 604,477
FINANCING ACTIVITIES      
Net change in deposits 847,494 1,086,713 (404,826)
Proceeds from issuance of other borrowings 0 0 25,500
Repayments of subordinated debentures (1,563) (7,442) 0
Dividends paid on preferred stock (47) (52) (339)
Dividends paid on common stock (78,845) (74,593) (63,921)
Net change in other borrowed funds (80,254) 45,983 (240,806)
Net change in federal funds purchased and securities sold under agreements to repurchase (116,562) 148,966 40,207
Net shares (cancelled) issued under stock compensation plans 290 (4,087) (2,389)
Shares issued under employee stock purchase plan 1,170 956 1,312
Repurchase of common stock (132,459) (113,327) (10,128)
Retirement of preferred stock (767) 0 (42,000)
Net cash provided by (used in) financing activities 438,457 1,083,117 (697,390)
INCREASE (DECREASE) IN CASH EQUIVALENTS (1,821,499) 2,475,529 163,165
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 3,472,152 996,623 833,458
CASH AND CASH EQUIVALENTS, END OF YEAR $ 1,650,653 $ 3,472,152 $ 996,623