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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 431,677 $ 384,677 $ 345,878
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 162,596 107,397 117,485
Accretion of discount and amortization of premiums, net (51,042) (63,770) (184,318)
Changes in FDIC indemnification asset and receivable/payable 0 37,980 201,417
Stock compensation costs 22,102 16,502 13,883
Deferred tax expenses (benefit) 26,966 261,214 (147,868)
Provision for credit losses 27,479 14,217 49,158
Net gains on sales of loans (6,087) (24,874) (39,132)
Net gains on sales of available-for-sale investment securities (10,362) (40,367) (10,715)
Net gains on sales of premises and equipment and OREO (4,129) (14,646) (14,056)
Originations and purchases of loans held-for-sale (18,804) (623) (92,475)
Proceeds from sales and paydowns/payoffs in loans held-for-sale 23,749 3,174 288,706
Repurchase agreements’ extinguishment costs 0 21,818 0
Net payments to FDIC shared-loss agreements 0 (132,999) (1,343)
Net change in accrued interest receivable and other assets 24,837 (113,457) (89,036)
Net change in accrued expenses and other liabilities 15,353 16,785 (38,586)
Other net operating activities (2,479) (3,404) (6,100)
Total adjustments 210,179 84,947 47,020
Net cash provided by operating activities 641,856 469,624 392,898
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisitions, net of cash paid 0 0 138,465
Net (increase) decrease in:      
Loans held-for-investment (1,549,736) (3,285,436) (2,552,244)
Interest-bearing deposits with banks (38,249) 30,140 (81,241)
Investments in qualified affordable housing partnerships, tax credit and other investments (87,860) (95,074) (87,925)
Purchases of:      
Resale agreements (1,550,000) (1,675,000) (925,000)
Available-for-sale investment securities (2,396,199) (3,547,193) (960,135)
Loans held-for-investment (1,142,054) (282,548) (865,267)
Proceeds from sale of:      
Available-for-sale investment securities 1,275,645 1,669,334 623,689
Loans held-for-investment 661,025 1,729,187 856,434
OREO 7,408 41,050 70,936
Paydowns and maturities of resale agreements 1,500,000 1,050,000 800,000
Repayments, maturities and redemptions of available-for-sale investment securities 1,503,127 734,934 554,742
Other net investing activities 24,233 2,725 67,653
Net cash used in investing activities (1,792,660) (3,627,881) (2,359,893)
Net increase in:      
Deposits 2,452,870 3,492,603 2,277,007
Short-term borrowings 62,506 0 0
Proceeds from:      
FHLB advances 0 700,000 0
Issuance of common stock pursuant to various stock compensation plans and agreements 2,982 2,835 6,794
Payments for:      
Repayment of FHLB advances (700,000) 0 (10,000)
Repayment of long-term debt (20,000) (20,000) (30,310)
Extinguishment of repurchase agreements 0 (566,818) (25,000)
Repurchase of vested shares due to employee tax liability (3,225) (5,964) (10,326)
Cash dividends on common stocks (115,828) (115,641) (103,618)
Other net financing activities 1,055 3,291 6,513
Net cash provided by financing activities 1,680,360 3,490,306 2,111,060
Effect of exchange rate changes on cash and cash equivalents (11,940) (11,047) 0
NET INCREASE IN CASH AND CASH EQUIVALENTS 517,616 321,002 144,065
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,360,887 1,039,885 895,820
CASH AND CASH EQUIVALENTS, END OF YEAR 1,878,503 1,360,887 1,039,885
Cash paid (received) during the year for:      
Interest 104,251 105,831 112,695
Income tax payments (refunds), net 39,478 (18,601) 321,177
Noncash investing and financing activities:      
Loans held-for-investment transferred to loans held-for-sale, net 814,157 1,694,245 837,389
Transfers to OREO 8,083 9,296 47,547
Loans to facilitate sale of OREO 0 1,750 2,000
Held-to-maturity investment security retained from securitization of loans 160,135 0 0
Dividends payable 767 583 397
Issuance of common stock related to acquisition $ 0 $ 0 $ 190,830