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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 210,800 $ 198,775
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 55,192 30,801
(Accretion) of discount and amortization of premiums, net (29,960) (29,504)
Changes in FDIC indemnification asset and receivable/payable 0 15,090
Stock compensation costs 9,210 7,652
Deferred tax expenses 4,357 10,056
Tax benefit from stock compensation plans, net (1,005) (3,196)
Provision for credit losses 7,493 8,481
Net gains on sales of loans (4,809) (14,831)
Net gains on sales of available-for-sale investment securities (6,678) (9,958)
Net gains on sales of OREO and premises and equipment (2,435) (9,041)
Originations and purchases of loans held for sale (3,364) (442)
Proceeds from sales and paydowns/payoffs in loans held for sale 4,794 1,863
Repurchase agreements’ extinguishment costs 0 6,625
Net payments to FDIC shared-loss agreements 0 (1,331)
Net change in accrued interest receivable and other assets (4,582) 76,621
Net change in accrued expenses and other liabilities 32,317 3,145
Other net operating activities (27) (1,346)
Total adjustments 60,503 90,685
Net cash provided by operating activities 271,303 289,460
Net (increase) decrease in:    
Loans receivable (113,126) (993,413)
Short-term investments 65,113 63,876
Investments in qualified affordable housing partnerships, tax credit and other investments (44,672) (31,977)
Purchases of:    
Resale agreements (1,100,000) (1,345,000)
Available-for-sale investment securities (693,406) (1,221,706)
Loans receivable (including loan participations) (933,820) (365,552)
Premises and equipment (6,485) (2,662)
Proceeds from sales of:    
Available-for-sale investment securities 864,743 473,062
Loans receivable (including loan participations) 398,010 1,020,236
Premises and equipment 7,276 4,345
Paydowns and maturities of resale agreements 1,050,000 1,175,000
Repayments, maturities and redemptions of available-for-sale investment securities 443,641 396,809
Redemption of FHLB stock 10,614 13,084
Other net investing activities 2,431 15,269
Net cash used in investing activities (49,681) (798,629)
Net increase in:    
Deposits 752,849 1,519,447
Short-term borrowings 30,064 3,271
Proceeds from:    
Issuance of common stock pursuant to various stock plans and agreements 1,062 1,769
Payments for:    
Repayment of FHLB advances (700,000) 0
Repayment of long-term debt (10,000) (10,000)
Extinguishment of repurchase agreements 0 (106,625)
Repurchase of vested shares due to employee tax liability (3,094) (5,787)
Cash dividends (58,152) (58,073)
Tax benefit from stock compensation plans, net 1,005 3,196
Net cash provided by financing activities 13,734 1,347,198
Effect of exchange rate changes on cash and cash equivalents (3,447) 0
NET INCREASE IN CASH AND CASH EQUIVALENTS 231,909 838,029
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,360,887 1,039,885
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,592,796 1,877,914
Cash paid during the period for:    
Interest 50,044 55,036
Income tax payments 6,359 19,174
Noncash investing and financing activities:    
Loans transferred to loans held for sale, net 575,804 1,156,180
Transfers to OREO 731 4,629
Loans to facilitate sale of OREO 0 1,750
Held-to-maturity investment security retained from securitization of loans 160,135 0
Dividends payable 100 112
Unsettled purchases of available-for-sale investment securities 57,711 0
Unsettled purchases of loans receivable $ 106,114 $ 0