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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 51,558 $ 78,809
Adjustments reconciling net income to net cash provided by (used in) operating activities:    
Depreciation 7,923 5,292
Net losses on sale or disposal of premises and equipment including write-downs 8 70
Net write-downs on other assets 1,090 3,580
Provision for credit losses 129,208 8,076
Net losses on sale of other real estate owned including write-downs 873 84
Share-based compensation expense 1,700 1,514
Amortization of intangible assets 11,232 6,253
Amortization of operating lease right-of-use assets 6,599 3,029
Provision for deferred taxes (32,544) 3,962
Net amortization of investment securities available for sale 2,932 1,653
Net gain on securities (5) (135)
Accretion of discount on purchased loans, net (16,138) (5,452)
Accretion on other borrowings 94 41
Accretion on subordinated deferrable interest debentures 970 684
Loan servicing asset impairment 30,239 1,460
Originations of mortgage loans held for sale (3,799,622) (798,429)
Payments received on mortgage loans held for sale 34,849 488
Proceeds from sales of mortgage loans held for sale 3,724,287 745,876
Net gains on sale of mortgage loans held for sale (129,450) (27,222)
Originations of SBA loans (28,595) (33,191)
Proceeds from sales of SBA loans 35,152 29,952
Net gains on sale of SBA loans (2,614) (2,476)
Increase in cash surrender value of bank owned life insurance (1,876) (968)
Gain on bank owned life insurance proceeds (845) 0
Changes in FDIC loss-share payable, net of cash payments (562) 3,431
Change attributable to other operating activities (52,715) 2,495
Net cash provided by (used in) operating activities (26,252) 28,876
Investing Activities, net of effects of business combinations    
Proceeds from maturities of time deposits in other banks 0 10,064
Purchases of securities available for sale 0 (219,352)
Proceeds from prepayments and maturities of securities available for sale 188,920 99,408
Proceeds from sales of securities available for sale 0 64,995
Net (increase) decrease in other investments (9,529) (17,949)
Net (increase) decrease in loans (1,591,894) (613,881)
Purchases of premises and equipment (9,267) (4,610)
Proceeds from sales of premises and equipment 409 762
Proceeds from sales of other real estate owned 3,169 4,854
Payments paid to FDIC under loss-share agreements (177) (2,322)
Proceeds from bank owned life insurance 2,980 0
Net cash and cash equivalents received in acquisitions (2,417) 0
Net cash used in investing activities (1,417,806) (678,031)
Financing Activities, net of effects of business combinations    
Net increase (decrease) in deposits 1,564,859 (66,943)
Net decrease in securities sold under agreements to repurchase (7,756) (17,077)
Proceeds from other borrowings 4,745,000 415,000
Repayment of other borrowings (4,725,167) (2,179)
Repayment of subordinated deferrable interest debentures (5,155) 0
Proceeds from exercise of stock options 701 54
Dividends paid - common stock (20,841) (9,511)
Purchase of treasury shares (7,973) (11,561)
Net cash provided by financing activities 1,543,668 307,783
Net increase (decrease) in cash and cash equivalents 99,610 (341,372)
Cash and cash equivalents at beginning of period 621,849 679,527
Cash and cash equivalents at end of period 721,459 338,155
Cash paid (received) during the period for:    
Interest 60,725 51,250
Income taxes 7,934 21,377
Loans transferred to other real estate owned 8,165 2,875
Loans transferred from loans held for sale to loans held for investment 86,557 0
Loans transferred from loans held for investment to loans held for sale 0 64,773
Loans provided for the sales of other real estate owned 299 144
Initial recognition of operating lease right-of-use assets 0 27,286
Initial recognition of operating lease liabilities 0 29,651
Right-of-use assets obtained in exchange for new operating lease liabilities 8,844 262
Assets acquired in business acquisitions 0 373
Liabilities assumed in business acquisitions 0 (1,922)
Change in unrealized gain (loss) on securities available for sale, net of tax 21,603 21,700
Change in unrealized gain (loss) on cash flow hedge, net of tax $ 14 $ (412)