XML 21 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities    
Net income $ 47,804 $ 49,469
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Provision for loan losses 1,333 3,585
Depreciation and amortization 6,716 2,393
Share-based compensation expense 4,384 3,562
Deferred taxes 4,172 (2,588)
Net amortization of investment securities premiums and discounts 813 232
Unrealized loss recognized on equity securities 296 0
Gain on sale of investment securities 0 (3,183)
Impairment loss on investment securities 0 4,585
Gain on sale of SBA and other loans (2,572) (2,183)
Origination of loans held for sale (14,272,175) (14,714,280)
Proceeds from the sale of loans held for sale 14,135,931 14,727,734
Amortization of fair value discounts and premiums 85 98
Net gain on sales of other real estate owned (28) (163)
Valuation and other adjustments to other real estate owned 78 231
Earnings on investment in bank-owned life insurance (3,900) (3,624)
Increase in accrued interest receivable and other assets (7,857) (9,003)
Increase (decrease) in accrued interest payable and other liabilities 13,061 (29,357)
Net Cash (Used In) Provided By Operating Activities (71,859) 27,508
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of securities available for sale 26,216 22,843
Proceeds from sale of available-for-sale securities 0 115,982
Purchases of investment securities available for sale (763,242) (644,011)
Net increase in loans (18,680) (572,253)
Proceeds from sales of loans 29,038 112,927
Purchase of loans (278,508) (262,641)
Purchases of bank-owned life insurance 0 (50,000)
Proceeds from bank-owned life insurance 529 1,418
Net purchases of FHLB, Federal Reserve Bank, and other restricted stock (30,148) (61,281)
Purchases of bank premises and equipment (608) (1,732)
Proceeds from sales of other real estate owned 28 682
Purchase of leased assets under operating leases (6,486) 0
Net Cash Used In Investing Activities (1,041,861) (1,338,066)
Cash Flows from Financing Activities    
Net increase in deposits 495,812 171,587
Net increase in short-term borrowed funds from the FHLB 777,937 1,130,800
Net (decrease) increase in federal funds purchased (50,000) 67,000
Net proceeds from issuance of long-term debt 0 98,574
Preferred stock dividends paid (7,229) (7,229)
Exercise of warrants 112 420
Payments of employee taxes withheld from share-based awards (700) (3,961)
Proceeds from issuance of common stock 3,191 1,900
Net Cash Provided By Financing Activities 1,219,123 1,459,091
Net Increase in Cash and Cash Equivalents 105,403 148,533
Cash and Cash Equivalents – Beginning 146,323 264,709
Cash and Cash Equivalents – Ending 251,726 413,242
Supplementary Cash Flows Information:    
Interest paid 73,162 44,983
Income taxes paid 4,174 21,715
Non-cash items:    
Transfer of loans to other real estate owned 57 0
Transfer of loans held for investment to loans held for sale 0 150,758
Transfer of loans held for sale to held for investment 129,691 0
University relationship intangible purchased not settled $ 1,502 $ 0