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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 149,129 $ 116,998 $ 75,272
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 30,797 30,791 30,144
Provision for loan losses 16,657 24,013 15,563
Net amortization of premium on securities 20,326 25,142 26,961
Provision for deferred taxes (414) 2,760 13,263
Securities gains, net (7,659) (1,085) (6,973)
Unrealized gain on equity securities, net (525) (212) 0
Stock based compensation 6,070 4,505 4,068
(Gain) loss on sales/valuations of assets, net (8,394) 2,208 2,475
Loans originated for sale (384,603) (646,019) (728,681)
Proceeds on sales of loans held for sale 396,290 714,259 760,484
Net gains on sales of loans held for sale (14,661) (16,404) (15,102)
(Increase) decrease in accrued interest receivable 1,301 (3,368) (593)
(Increase) decrease in prepaid expenses (8,566) 2,364 576
Increase (decrease) in accrued interest payable 421 (2) 34
Gain on extinguishment of debt (375) 0 (1,280)
Capitalization of servicing rights (1,011) (5,160) (7,358)
Valuation adjustment on servicing rights 911 46 (21)
Excess tax benefits from stock based compensation 266 674 1,246
Other, net (34,786) (8,760) (14,148)
NET CASH PROVIDED BY OPERATING ACTIVITIES 161,174 242,750 155,930
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of time deposits in other financial institutions (258) (1,000) 0
Proceeds from the sale of securities available for sale 1,628,467 727,895 1,456,750
Proceeds from the sale, maturity of and principal paydowns on other investments 10,325 1,618 2,790
Proceeds from the redemption of time deposits in other financial institutions 0 8,767 12,171
Proceeds from the maturity of and principal paydowns on securities available for sale 402,946 237,747 222,656
Proceeds from the maturity of and principal paydowns on securities held to maturity 3,158 15,953 10,621
Proceeds from the maturity of and principal paydowns on time deposits in other financial institutions 1,216 6,993 34,904
Purchase of securities available for sale (2,577,106) (1,197,822) (1,816,564)
Purchase of other investments (6,446) (3,731) (1,116)
Net (increase) decrease in loans (90,749) (132,401) 22,109
Purchase of bank owned life insurance policies (28) (2,228) (2,000)
Proceeds from bank owned life insurance policies 1,402 0 0
Proceeds from sale of mortgage servicing rights 35,017 0 6,290
Capital expenditures and investments (17,928) (12,742) (8,113)
Net cash and cash equivalents received in acquisitions 76,071 212,197 71,089
Net cash expended in divestitures (49,264) 0 0
Proceeds from sale of equipment 903 2,972 4,867
Proceeds on sale of OREO and other repossessed assets 8,304 11,562 10,844
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (573,970) (124,220) 27,298
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand deposits 51,178 8,052 154,394
Net increase (decrease) in savings accounts 680,641 318,697 (166,733)
Net decrease in time deposit accounts (81,251) (221,980) (79,733)
Proceeds on short-term revolving credit line 0 25,000 20,000
Repayments on short-term revolving credit line 0 (25,000) (20,000)
Net decrease in short-term borrowings (51,314) (158,519) (25,847)
Proceeds from short term FHLB advances 512,085 462,940 251,139
Repayments of short term FHLB advances (546,725) (402,102) (241,505)
Proceeds from other borrowings 50 30,131 0
Repayments of other borrowings (20,693) (59,157) (9,645)
Payment for the redemption of debt (2,125) 0 (13,800)
Purchase of treasury stock 0 (97) (625)
Proceeds from issuance of common stock 661 489 963
Dividends paid (24,607) (19,357) (14,557)
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 517,900 (40,903) (145,949)
Net increase in cash and cash equivalents 105,104 77,627 37,279
Cash and cash equivalents at beginning of year 273,630 196,003 158,724
CASH AND CASH EQUIVALENTS AT END OF PERIOD 378,734 273,630 196,003
Supplemental disclosures:      
Cash paid for income/franchise taxes 37,609 17,085 15,817
Cash paid for interest 80,238 51,868 33,316
Loans transferred to OREO 8,066 7,866 5,293
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net 4,306 81 2,372
Purchases of securities available for sale, accrued, not paid 11,106 0 1,017
Transfer of premises from premises, furniture and equipment, net to premises, furniture and equipment held for sale 4,655 7,660 3,442
Securities transferred from held to maturity to available for sale 148,030 0 0
Conversion of convertible debt to common stock 0 0 558
Conversion/redemption of Series D preferred stock to common stock 0 938 419
Loans transferred to held for sale 32,111 96,027 0
Deposits transferred to held for sale 76,968 106,409 0
Stock consideration granted for acquisitions $ 92,258 $ 238,075 $ 175,196