XML 20 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 17,201 $ 19,687
Adjustments to reconcile net income to net cash used in operating activities    
Provision for loan and lease losses 2,583 321
Reversal for loan repurchases (325) (359)
Net revenue on mortgage banking activities (29,434) (33,684)
Net gain on sale of loans (4,019) (2,195)
Net amortization of premiums and discounts on securities 218 389
Depreciation on premises and equipment 3,324 2,830
Amortization of intangibles 1,090 1,322
Amortization of debt issuance cost 42 245
Stock option compensation expense 247 138
Stock award compensation expense 2,604 3,653
Stock appreciation right compensation expense 42 13
Bank owned life insurance income (581) (563)
Impairment on intangible assets 336 0
Net gain on sale of securities available-for-sale (3,356) (16,789)
Net gain on disposal of discontinued operations (13,302) 0
Gain on sale of mortgage servicing rights 0 (2)
Loss (gain) on sale of other real estate owned 5 (37)
Loss on investments in alternative energy partnerships, net 8,682 0
Deferred income tax expense (8,214) (98)
Loss on sale or disposal of property and equipment 255 1
Loss from change of fair value and runoff on mortgage servicing rights 1,903 10,151
Increase in valuation allowances on other real estate owned 3 0
Repurchase of mortgage loans (13,630) (8,035)
Originations of loans held-for-sale from mortgage banking (935,428) (1,024,307)
Originations of other loans held-for-sale (63,101) (201,195)
Proceeds from sales of and principal collected on loans held-for-sale from mortgage banking 958,529 1,009,532
Proceeds from sales of and principal collected on other loans held-for-sale 127,629 67,846
Change in deferred loan fees (708) (85)
Net amortization of premiums and discounts on purchased loans (2,070) (10,617)
Change in accrued interest receivable 1,331 (4,167)
Change in other assets (13,875) (22,349)
Change in accrued interest payable and other liabilities (53,972) 13,038
Net cash used in operating activities (15,991) (195,316)
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 378,539 2,247,421
Proceeds from maturities and calls of securities available-for-sale 32,465 0
Proceeds from principal repayments of securities available-for-sale 10,746 19,326
Proceeds from maturities and calls of securities held-to-maturity 21,020 0
Purchases of securities available-for-sale (472,850) (2,975,271)
Net cash provided by disposal of discontinued operations 55,629 0
Loan and lease originations and principal collections, net (309,961) (293,744)
Purchase of loans and leases 0 (31,048)
Redemption of Federal Home Loan Bank stock 4,813 5,690
Purchase of Federal Home Loan Bank and other bank stock (209) (7,767)
Proceeds from sale of loans 249,695 51,826
Proceeds from sale of other real estate owned 320 956
Proceeds from sale of mortgage servicing rights 0 5
Proceeds from sale of premises and equipment 172 0
Additions to premises and equipment (10,317) (6,202)
Payments of capital lease obligations (271) (243)
Investments in alternative energy partnerships (30,927) 0
Net cash used in investing activities (71,136) (989,051)
Cash flows from financing activities:    
Net (decrease) increase in deposits (544,457) 534,516
Net increase in short-term Federal Home Loan Bank advances 540,000 265,000
Repayment of long-term Federal Home Loan Bank advances (50,000) 0
Proceeds from long-term Federal Home Loan Bank advances 100,000 0
Net increase in securities sold under repurchase agreements 26,320 257,100
Net proceeds from issuance of common stock 0 75,531
Net proceeds from issuance of preferred stock 0 120,258
Payment of amortizing debt (1,330) (1,234)
Restricted stock surrendered due to employee tax liability (2,135) (193)
Dividend equivalents paid on stock appreciation rights (202) (184)
Dividends paid on preferred stock (5,113) (3,030)
Dividends paid on common stock (6,185) (4,509)
Net cash provided by financing activities 56,898 1,243,255
Net change in cash and cash equivalents (30,229) 58,888
Cash and cash equivalents at beginning of period 439,510 156,124
Cash and cash equivalents at end of period 409,281 215,012
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 15,888 16,306
Income taxes paid 6,574 1,597
Income taxes refunds received 0 1
Supplemental disclosure of non-cash activities    
Transfer from loans to other real estate owned, net 1,171 147
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 three months ended March 31, 2017 and 2016 242,288 61,410
Transfer of loans held-for-sale to loans held-for-investment 0 4,746
Equipment acquired under capital leases $ 70 $ 0