XML 18 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 82,152 $ 43,034
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Provision for loan and lease losses 4,682 6,209
Provision (reversal) for loan repurchases (451) 2,023
Net revenue on mortgage banking activities (127,638) (114,351)
Net gain on sale of loans (15,405) (22,047)
Net amortization of premiums and discounts on securities 1,061 1,385
Depreciation on premises and equipment 8,510 6,600
Amortization of intangibles 3,823 4,490
Amortization of debt issuance cost 480 428
Stock option compensation expense 400 357
Stock award compensation expense 8,110 6,285
Stock appreciation right compensation expense 17 188
Bank owned life insurance income (1,738) (475)
Impairment on intangible assets 0 258
Debt redemption costs 2,737 0
Net gain on sale of securities available-for-sale (30,100) (1,748)
Gain on sale of building 0 (9,919)
Gain on sale of branches 0 163
Gain on sale of subsidiary (3,694) 0
Gain on sale of mortgage servicing rights (2) 0
Loss (gain) on sale of other real estate owned 49 (23)
Loss on investments in alternative energy partnerships, net 17,660 0
Deferred income tax expense 5,197 1,916
Loss on sale or disposal of property and equipment 78 58
Loss from change of fair value and runoff on mortgage servicing rights 22,908 8,417
Increase in valuation allowances on other real estate owned 25 38
Repurchase of mortgage loans (29,458) (12,589)
Originations of loans held-for-sale from mortgage banking (3,824,562) (3,404,030)
Originations of other loans held-for-sale (545,920) (585,547)
Proceeds from sales of and principal collected on loans held-for-sale from mortgage banking 3,853,406 3,421,045
Proceeds from sales of and principal collected on other loans held-for-sale 493,346 705,036
Change in deferred loan fees (663) 468
Net amortization of premiums and discounts on purchased loans (31,029) (21,507)
Change in accrued interest receivable (9,216) (4,593)
Change in other assets (49,580) (14,460)
Change in accrued interest payable and other liabilities 15,958 23,613
Net cash provided by (used in) operating activities (148,857) 40,396
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 3,783,965 403,206
Proceeds from maturities and calls of securities available-for-sale 0 687
Proceeds from principal repayments of securities available-for-sale 72,390 88,327
Purchases of securities available-for-sale (4,856,401) (837,520)
Purchases of securities held-to-maturity 0 (529,534)
Purchases of bank owned life insurance 0 (80,000)
Net cash used in branch sales 0 (46,731)
Proceeds from sale of subsidiary 259 0
Loan and lease originations and principal collections, net (1,448,427) (360,253)
Purchase of loans and leases (179,897) (227,175)
Redemption of Federal Home Loan Bank stock 20,965 17,163
Purchase of Federal Home Loan Bank and other bank stock (31,125) (15,565)
Proceeds from sale of loans 276,264 389,944
Proceeds from sale of other real estate owned 1,592 908
Proceeds from sale of mortgage servicing rights 5 5,862
Proceeds from sale of premises and equipment 0 52,192
Additions to premises and equipment (30,847) (7,950)
Payments of capital lease obligations (728) (682)
Investments in alternative energy partnerships (41,572) 0
Net cash used in investing activities (2,433,557) (1,147,121)
Cash flows from financing activities:    
Net increase in deposits 2,775,234 796,760
Net increase (decrease) in short-term Federal Home Loan Bank advances (110,000) 62,000
Repayment of long-term Federal Home Loan Bank advances (50,000) (265,000)
Proceeds from long-term Federal Home Loan Bank advances 0 400,000
Net increase in other borrowings 49,903 0
Net proceeds from issuance of common stock 175,090 0
Net proceeds from issuance of preferred stock 120,255 110,873
Redemption of preferred stock (42,000) 0
Net proceeds from issuance of long term debt 0 172,304
Payment of amortizing debt (3,773) (3,503)
Redemption of long term debt (84,750) 0
Proceeds from exercise of stock options 0 465
Cash settlement of stock options (359) 0
Dividend equivalents paid on stock appreciation rights (556) (516)
Dividends paid on preferred stock (14,518) (6,416)
Dividends paid on common stock (15,633) (12,478)
Net cash provided by financing activities 2,798,893 1,254,489
Net change in cash and cash equivalents 216,479 147,764
Cash and cash equivalents at beginning of period 156,124 231,199
Cash and cash equivalents at end of period 372,603 378,963
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 43,968 35,079
Income taxes paid 36,647 24,460
Income taxes refunds received 1 18
Supplemental disclosure of non-cash activities    
Transfer from loans to other real estate owned, net 844 534
Transfer of loans held-for-investment to loans held-for-sale, net of transfer of $0 from allowance for loan and lease losses for the nine months ended September 30, 2016 and 2015 161,601 48,757
Transfer of loans held-for-sale to loans held-for-investment 7,115 482,851
Equipment acquired under capital leases 16 34
Due on unsettled securities purchases $ 61,766 $ 0