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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
OPERATING ACTIVITIES:      
Net income $ 146,278 $ 136,515 $ 60,776
Adjustments to reconcile net income to net cash provided from (used by) operating activities:      
Depreciation 17,282 15,232 14,701
Deferred income and expense, net of amortization (881) (6,571) 1,972
Amortization of core deposit intangibles 8,151 6,047 6,246
(Gain) loss on sale of securities, net (33) 837 2,080
Net change in valuation of financial instruments carried at fair value 208 (3,775) 2,844
Proceeds from sales of securities—trading 0 0 1,258
Principal repayments and maturities of securities—trading 0 100 1,849
Gain (Loss) on Sale of Branches, including loans and deposits 0 0 12,189
Decrease (increase) in deferred taxes 15,548 (3,498) 56,267
Increase (decrease) in current taxes payable 607 3,938 (2,965)
Equity-based compensation   6,554 5,965
Increase in cash surrender value of BOLI (4,246) (4,471) (4,057)
Gain on sale of loans, net of capitalized servicing rights (15,993) (15,066) (15,225)
Loss (gain) on disposal of real estate held for sale and property and equipment 1,075 (833) (4,295)
PROVISION FOR LOAN LOSSES 10,000 8,500 8,000
Provision for real estate held for sale 0 387 256
Origination of loans held for sale (1,094,237) (896,461) (807,137)
Proceeds from sales of loans held for sale 1,070,814 781,879 1,027,989
Net change in:      
Other assets (18,429) (15,861) 2,546
Other liabilities 5,588 17,322 (179)
Net cash provided from operating activities 148,874 30,775 346,702
INVESTING ACTIVITIES:      
Purchases of securities—available-for-sale (277,503) (913,951) (838,247)
Principal repayments and maturities of securities—available-for-sale 321,510 173,454 187,080
Proceeds from sales of securities—available-for-sale 86,083 214,609 522,564
Purchases of securities—held-to-maturity (54,850) (9,612) (6,490)
Principal repayments and maturities of securities—held-to-maturity 50,962 33,152 11,817
Loan originations, net of repayments (304,191) (416,218) (288,951)
Purchases of loans and participating interest in loans (9,798) (33,680) (126,508)
Proceeds from sales of other loans 27,560 9,853 21,923
Net cash paid related to branch divestiture (26,944) 1,574  
Net cash (paid) received from acquisitions and branch divestitures     113,222
Purchases of property and equipment (24,700) (23,094) (12,244)
Proceeds from Sale of Property, Plant, and Equipment 7,815 7,768 20,121
Proceeds from FHLB stock repurchase program 175,998 143,175 118,304
Purchase of FHLB stock (170,380) (163,683) (116,132)
Other 1,436 3,583 254
Net cash used by investing activities (143,114) (976,218) (393,287)
FINANCING ACTIVITIES:      
Increase in deposits, net 272,625 503,814 222,334
Proceeds from FHLBank Advance, Investing Activities 450,000 0 0
Repayment of long term FHLB borrowing (280,415) (10) (9)
Advances, net of (repayments) of overnight and short-term FHLB borrowings (300,000) 540,000 (54,000)
(Decrease) increase in other borrowings, net (520) 7,870 (9,825)
Cash dividends paid (56,074) (59,280) (65,759)
Cash paid for repurchase of common stock (53,922) (34,401) (31,045)
Payment, Tax Withholding, Share-based Payment Arrangement 1,915 1,554 1,630
Net cash provided from financing activities 29,779 956,439 60,066
NET CHANGE IN CASH AND CASH EQUIVALENTS 35,539 10,996 13,481
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 272,196 261,200  
CASH AND CASH EQUIVALENTS, END OF YEAR 307,735 272,196 261,200
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Interest paid in cash 58,239 28,098 18,875
Taxes paid in cash 27,329 21,664 35,500
NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Loans, net of discounts, specific loss allowances and unearned income, transferred to real estate owned and other repossessed assets 303 1,645 10
Dividends accrued but not paid until after period end 51,199 13,778  
ACQUISITIONS (DISPOSITIONS):      
Assets Disposed     (259,398)
Assets acquired (disposed) 426,609 915,821  
Liabilities assumed (transferred) $ 373,016 $ 832,278  
Liabilities Transfered     $ (160,465)