XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 61,600 $ 61,187
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,738 22,975
Provision for loan losses 10,235 9,513
Net amortization of premium on securities 20,186 24,093
Securities gains, net (5,553) (9,732)
Stock based compensation 3,588 3,073
Loans originated for sale (548,768) (863,354)
Proceeds on sales of loans held for sale 586,202 883,758
Net gains on sale of loans held for sale (11,968) (23,938)
Decrease in accrued interest receivable (1,449) (1,054)
(Increase) decrease in prepaid expenses 838 (128)
Increase in accrued interest payable 1,104 332
Capitalization of servicing rights (5,993) (9,856)
Valuation allowance on commercial servicing rights (29) 41
Write downs and losses on sales of assets, net 1,642 1,064
Net excess tax benefit from stock based compensation 1,121 1,121
Other, net (5,637) (2,419)
NET CASH PROVIDED BY OPERATING ACTIVITIES 129,857 96,676
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of securities available for sale 1,127,091 768,617
Proceeds from the sale of securities held to maturity 0 4,557
Proceeds from the sale of other investments 0 4,722
Proceeds from the redemption of time deposits in other financial institutions 12,171 0
Proceeds from the maturity of and principal paydowns on securities available for sale 161,827 130,549
Proceeds from the maturity of and principal paydowns on securities held to maturity 6,645 8,271
Proceeds from the maturity of and principal paydowns on time deposits in other financial institutions 24,931 250
Proceeds from the maturity of and principal paydowns on other investments 2,574 0
Purchase of securities available for sale (1,299,492) (888,903)
Purchase of other investments (1,012) (1,875)
Net decrease in loans 45,139 138,725
Purchase of bank owned life insurance policies (2,000) 0
Proceeds from bank owned life insurance policies 0 111
Proceeds from sale of mortgage servicing rights 5,137 0
Capital expenditures (6,876) (8,318)
Net cash and cash equivalents received in acquisitions 71,089 8,084
Proceeds from the sale of equipment 1,845 686
Proceeds on sale of OREO and other repossessed assets 7,578 3,266
NET CASH PROVIDED BY INVESTING ACTIVITIES 156,647 168,742
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits 181,206 160,313
Net increase (decrease) in savings deposits (179,721) 51,530
Net decrease in time deposit accounts (8,582) (353,084)
Proceeds on short-term revolving credit line 20,000 0
Repayments on short-term revolving credit line (15,000) 0
Net decrease in short-term borrowings (168,667) (101,409)
Proceeds from short term FHLB advances 186,039 243,100
Repayments of short term FHLB advances (191,405) (257,250)
Proceeds from other borrowings 0 40,000
Repayments of other borrowings (8,573) (15,562)
Redemption of preferred stock 0 (81,698)
Purchase of treasury stock (440) (2,293)
Proceeds from issuance of common stock 804 1,863
Dividends paid (9,153) (7,638)
NET CASH USED BY FINANCING ACTIVITIES (193,492) (322,128)
Net increase (decrease) in cash and cash equivalents 93,012 (56,710)
Cash and cash equivalents at beginning of year 158,724 258,799
CASH AND CASH EQUIVALENTS AT END OF PERIOD 251,736 202,089
Supplemental disclosures:    
Cash paid for income/franchise taxes 10,775 16,550
Cash paid for interest 23,034 23,864
Loans transferred to OREO 4,955 1,359
Purchases of securities available for sale, accrued, not settled 2,063 0
Sales of securities available for sale, accrued, not settled 125 250
Conversion of convertible debt to common stock 558 0
Conversion of Series D preferred stock to common stock 419 0
Stock consideration granted for acquisitions $ 175,196 $ 57,433