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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 505,624 $ 431,677 $ 384,677
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 149,822 137,578 88,728
Accretion of discount and amortization of premiums, net (7,260) (26,024) (45,101)
Changes in FDIC indemnification asset and receivable/payable 0 0 37,980
Stock compensation costs 24,657 22,102 16,502
Deferred income tax expense 33,856 26,966 261,214
Provision for credit losses 46,266 27,479 14,217
Net gains on sales of loans (8,870) (6,085) (24,873)
Net gains on sales of available-for-sale investment securities (8,037) (10,362) (40,367)
Net gains on sales of premises and equipment (77,388) (3,178) (3,567)
Net gains on sales of OREO (1,024) (951) (11,079)
Net gain on sale of business (3,807) 0 0
Originations and purchases of loans held-for-sale (20,521) (18,804) (623)
Proceeds from sales and paydowns/payoffs in loans held-for-sale 21,363 23,749 3,174
Repurchase agreements’ extinguishment costs 0 0 21,818
Net payments to FDIC shared-loss agreements 0 0 (132,999)
Net change in accrued interest receivable and other assets 46,005 23,685 (117,046)
Net change in accrued expenses and other liabilities (1,966) 15,353 16,785
Other net operating activities (1,814) (1,329) 184
Total adjustments 191,282 210,179 84,947
Net cash provided by (used in) operating activities 696,906 641,856 469,624
Net (increase) decrease in:      
Loans held-for-investment (3,514,786) (1,549,736) (3,285,436)
Interest-bearing deposits with banks (63,096) (38,249) 30,140
Investments in qualified affordable housing partnerships, tax credit and other investments (161,661) (87,860) (95,074)
Purchases of:      
Resale agreements (600,000) (1,550,000) (1,675,000)
Available-for-sale investment securities (828,604) (2,396,199) (3,547,193)
Loans held-for-investment (534,816) (1,142,054) (282,548)
Premises and equipment (13,754) (12,181) (6,555)
Proceeds from sale of:      
Available-for-sale investment securities 832,844 1,275,645 1,669,334
Loans held-for-investment 566,688 661,025 1,729,187
Other real estate owned (“OREO”) 6,999 7,408 41,050
Premises and equipment 119,749 8,163 7,133
Business, net of cash transferred 3,633 0 0
Paydowns and maturities of resale agreements 1,250,000 1,500,000 1,050,000
Repayments, maturities and redemptions of available-for-sale investment securities 413,593 1,503,127 734,934
Other net investing activities 22,756 28,251 2,147
Net cash used in investing activities (2,500,455) (1,792,660) (3,627,881)
Net increase (decrease) in:      
Deposits 2,272,500 2,452,870 3,492,603
Short-term borrowings (61,560) 62,506 0
Proceeds from:      
FHLB advances 0 0 700,000
Issuance of common stock pursuant to various stock compensation plans and agreements 2,280 2,982 2,835
Payments for:      
Repayment of FHLB advances 0 (700,000) 0
Repayment of long-term debt (15,000) (20,000) (20,000)
Extinguishment of repurchase agreements 0 0 (566,818)
Repurchase of vested shares due to employee tax liability (12,940) (3,225) (5,964)
Cash dividends on common stock (116,820) (115,828) (115,641)
Other net financing activities 0 1,055 3,291
Net cash provided by financing activities 2,068,460 1,680,360 3,490,306
Effect of exchange rate changes on cash and cash equivalents 31,178 (11,940) (11,047)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 296,089 517,616 321,002
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,878,503 1,360,887 1,039,885
CASH AND CASH EQUIVALENTS, END OF YEAR 2,174,592 1,878,503 1,360,887
Cash paid (received) during the year for:      
Interest paid 138,766 104,251 105,831
Income taxes paid (refunded), net 98,126 39,478 (18,601)
Noncash investing and financing activities:      
Loans transferred from held-for-investment to held-for-sale [1] 613,088 819,100 1,747,621
Loans transferred from held-for-sale to held-for-investment 0 (4,943) (53,376)
Deposits transferred to branch liability held-for-sale 605,111 0 0
Investment security transferred from held-to-maturity to available-for-sale 115,615 0 0
Held-to-maturity investment security retained from securitization of loans 0 160,135 0
Premises and equipment transferred to branch assets held-for-sale 8,043 0 0
Loans transferred to OREO $ 777 $ 8,083 $ 9,296
[1] December 31, 2017 amount includes loans transferred from held-for-investment to branch assets held-for-sale.