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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 102,273 $ 167,377 $ 201,608
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 20,068 17,592 15,026
Amortization of intangible assets 5,912 3,086 3,593
Provision for credit losses 170,985 39,813 58,989
Deferred income tax (benefit) expense (4,371) 55,009 (25,043)
Stock-based compensation 5,117 3,949 5,825
Gain on early extinguishment of debt (94) 0 (2,316)
(Gain) loss on investment securities (13,198) 497 84
Unrealized gain on derivative instruments (5,635) (2,934) (46)
Net (gain) loss on disposals or sales of premises and equipment and other assets (215) 242 (1,366)
Net gain on sale of loans (13,273) (10,446) (2,639)
Net accretion/amortization of discounts, premiums, and deferred loan fees and costs (8,602) (8,117) (8,397)
Originations and purchases of loans held for sale (648,052) (362,612) (319,770)
Sales and repayments of loans held for sale 659,349 360,572 344,935
Amortization of broker placement fees 537 732 1,163
Net amortization/accretion of premiums and discounts on investment securities 19,410 2,483 2,407
Decrease (increase) in accrued interest receivable 6,419 (1,971) 6,649
(Decrease) increase in accrued interest payable (2,990) 1,081 236
(Increase) decrease in other assets (5,018) 32,521 8,906
Net (decrease) increase in other liabilities 9,116 (4,590) (1,521)
Net cash provided by operating activities 297,738 294,284 288,323
Cash flows from investing activities:      
Net disbursement on loans held for investment (335,152) (341,870) (277,863)
Proceeds from sales of loans held for investment 6,788 83,428 82,526
Proceeds from sales of repossessed assets 35,270 60,124 51,799
Proceeds from sales of available-for-sale securities 1,195,250 0 47,805
Purchases of available-for-sale securities (3,820,148) (765,432) (509,884)
Proceeds from principal repayments and maturities of securities available-for-sale securities 1,277,762 628,675 387,817
Proceeds from principal repayments of held-to-maturity securities 6,431 6,138 5,828
Additions to premises and equipment (16,070) (22,478) (20,514)
Proceeds from sale of premises and equipment and other assets 497 1,568 2,548
Net redemptions (purchases) of other investment securities 3,881 6,292 (993)
Proceeds from the settlement of insurance claims-investing activity 0 587 7,673
Net cash acquired in acquisition 406,626 0 0
Net cash used in investing activities (1,238,865) (342,968) (223,258)
Cash flows from financing activities:      
Net increase (decrease) in deposits 1,767,441 361,657 (36,889)
Net decrease in short-term borrowings (35,000) (15,086) (49,914)
Repayments of long-term borrowings (95,282) (205,000) (216,434)
Proceeds from long-term borrowings 0 0 120,000
Proceeds from long-term reverse repurchase agreements 200,000 0 0
Repurchase of common stock (206) (1,959) (2,827)
Dividends paid on common stock (43,416) (30,356) (6,517)
Dividends paid on preferred stock (2,676) (2,676) (2,676)
Net cash provided by (used in) financing activities 1,790,861 106,580 (195,257)
Net increase (decrease) in cash and cash equivalents 849,734 57,896 (130,192)
Cash and cash equivalents at beginning of year 644,099 586,203 716,395
Cash and cash equivalents at end of year 1,493,833 644,099 586,203
Cash and cash equivalents include:      
Cash and Cash Equivalents, at Carrying Value, Total $ 1,493,833 $ 586,203 $ 586,203