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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income [1] $ 384,677 $ 345,878 $ 293,324
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization [1] 80,583 96,057 79,873
(Accretion) of discount and amortization of premiums, net (63,770) (184,318) (245,665)
Changes in FDIC indemnification asset and receivable/payable 37,980 201,417 228,585
Stock compensation costs 16,502 13,883 13,548
Deferred tax expenses (benefit) 261,214 (147,868) (42,836)
Tax benefit from stock compensation plans, net (3,291) (6,513) (5,522)
Provision for credit losses 14,217 49,158 22,364
Net gains on sales of loans (24,874) (39,132) (7,750)
Net gains on sales of available-for-sale investment securities (40,367) (10,851) (12,089)
Net gains on sales of OREO and premises and equipment (14,646) (14,056) (10,385)
Originations and purchases of loans held for sale (623) (92,475) (99,688)
Proceeds from sales and paydowns/payoffs in loans held for sale 3,174 288,706 44,627
Repurchase agreements’ extinguishment costs 21,818 0 0
Net (payments to) proceeds from FDIC shared-loss agreements (132,999) (1,343) 55,826
Net change in accrued interest receivable and other assets [1] (86,643) (67,472) 53,405
Net change in accrued expenses and other liabilities 16,785 (38,586) 57,527
Other net operating activities (113) 413 701
Total adjustments [1] 84,947 47,020 132,521
Net cash provided by operating activities 469,624 392,898 425,845
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisitions, net of cash paid 0 138,465 0
Net (increase) decrease in:      
Loans receivable (3,512,004) (3,396,728) (2,458,694)
Short-term investments 30,140 (81,241) 108,905
Investments in qualified affordable housing partnerships, tax credit and other investments (95,074) (87,925) (42,149)
Purchases of:      
Resale agreements (1,675,000) (925,000) (450,000)
Available-for-sale investment securities (3,547,193) (960,135) (1,316,764)
Loans receivable (49,458) (20,783) (680,821)
Premises and equipment (6,555) (11,853) (88,108)
Proceeds from sale of:      
Available-for-sale investment securities 1,669,334 623,689 663,569
Loans receivable 1,722,665 856,434 370,171
OREO 41,050 70,936 64,312
Paydowns and maturities of resale agreements 1,050,000 800,000 600,000
Repayments, maturities and redemptions of available-for-sale investment securities 734,934 554,742 444,057
Redemption of FHLB stock 13,086 33,801 44,945
Surrender of life insurance policies 156 49,480 0
Other net investing activities (3,962) (3,775) 5,731
Net cash used in investing activities (3,627,881) (2,359,893) (2,734,846)
Net increase (decrease) in:      
Deposits 3,492,603 2,277,007 2,103,564
Short-term borrowings 0 0 (20,000)
Proceeds from:      
Increase in long-term borrowings 0 0 100,000
FHLB advances 700,000 0 0
Issuance of common stock pursuant to various stock plans and agreements 2,835 6,794 3,054
Payments for:      
Repayment of FHLB advances 0 (10,000) 0
Repayment of long-term debt (20,000) (30,310) (10,310)
Extinguishment of repurchase agreements (566,818) (25,000) 0
Repurchase of vested shares due to employee tax liability (5,964) (10,326) (13,833)
Repurchase of shares of treasury stock pursuant to the Stock Repurchase Plan 0 0 (199,992)
Cash dividends (115,641) (103,618) (86,290)
Tax benefit from stock compensation plans, net 3,291 6,513 5,522
Net cash provided by financing activities 3,490,306 2,111,060 1,881,715
Effect of exchange rate changes on cash and cash equivalents (11,047) 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 321,002 144,065 (427,286)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,039,885 895,820 1,323,106
CASH AND CASH EQUIVALENTS, END OF YEAR 1,360,887 1,039,885 895,820
Cash paid during the year for:      
Interest 105,831 112,695 112,169
Income tax (refunds) payments (18,601) 321,177 142,980
Noncash investing and financing activities:      
Loans transferred to loans held for sale, net 1,686,294 837,389 97,065
Transfers to OREO 9,296 47,547 43,989
Conversion of preferred stock to common stock 0 0 83,027
Loans to facilitate sales of OREO 1,750 2,000 139
Issuance of common stock related to acquisition $ 0 $ 190,830 $ 0
[1] Prior period was restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects Accounting Standards Update (“ASU”) 2014-01. Please see Note 9 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.