XML 20 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities    
Net income $ 37,129 $ 25,508
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Provision for loan losses, net of change to FDIC receivable and clawback liability 2,766 12,299
Provision for depreciation and amortization 2,143 2,068
Share-based compensation 3,394 2,755
Deferred taxes (2,025) (3,476)
Net amortization of investment securities premiums and discounts 424 404
(Gain) loss on sale of investment securities (26) 69
Gain on sale of mortgages and other loans (1,189) (2,094)
Origination of loans held for sale (17,142,862) (15,090,554)
Proceeds from the sale of loans held for sale 16,626,639 14,476,771
Decrease (increase) in FDIC loss sharing receivable net of clawback liability 255 (1,924)
Amortization of fair value discounts and premiums 235 632
Net loss on sales of other real estate owned 80 334
Valuation and other adjustments to other real estate owned, net of FDIC receivable 193 (308)
Earnings on investment in bank-owned life insurance (2,243) (2,230)
(Increase) decrease in accrued interest receivable and other assets (31,201) 1,158
Increase (decrease) in accrued interest payable and other liabilities 14,793 (4,314)
Net Cash Used In Operating Activities (491,495) (582,902)
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of securities available for sale 28,973 43,872
Proceeds from sales of investment securities available for sale 2,848 492
Purchases of investment securities available for sale (5,000) (7,000)
Net increase in loans (667,403) (345,630)
Proceeds from sales of loans 17,527 148,916
Purchases of bank-owned life insurance 0 (15,000)
Net proceeds from (purchases of) FHLB, Federal Reserve Bank, and other restricted stock (20,577) 3,854
(Payments to) reimbursements from the FDIC on loss sharing agreements (668) 503
Purchases of bank premises and equipment (2,185) (1,799)
Proceeds from sales of other real estate owned 310 4,431
Acquisition of Disbursement business, net (17,000) 0
Net Cash Used In Investing Activities (663,175) (167,361)
Cash Flows from Financing Activities    
Net increase in deposits 841,760 944,632
Net increase (decrease) in short-term borrowed funds from the FHLB 206,600 (255,000)
Net decrease in federal funds purchased (9,000) 0
Proceeds from long-term FHLB borrowings 75,000 25,000
Net proceeds from issuance of preferred stock 79,701 55,569
Preferred stock dividends paid (3,110) 0
Exercise and redemption of warrants 1,071 0
Proceeds from issuance of common stock 851 628
Net Cash Provided by Financing Activities 1,192,873 770,829
Net Increase in Cash and Cash Equivalents 38,203 20,566
Cash and Cash Equivalents – Beginning 264,593 371,023
Cash and Cash Equivalents – Ending 302,796 391,589
Supplementary Cash Flows Information    
Interest paid 33,137 25,302
Income taxes paid 23,539 17,387
Non-cash items:    
Transfer of loans to other real estate owned $ 592 $ 2,405