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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income (loss) $ 167,703 $ 100,193
Adjustments reconciling net income to net cash provided by (used in) operating activities:    
Depreciation 11,843 9,077
Net (gains) losses on sale or disposal of premises and equipment including write-downs (125) 159
Net write-downs on other assets 1,366 4,359
Provision for credit losses 146,890 14,065
Net losses on sale of other real estate owned including write-downs 715 158
Share-based compensation expense 2,708 2,450
Amortization of intangible assets 15,422 11,972
Amortization of operating lease right-of-use assets 12,408 7,145
Provision for deferred taxes (28,652) 12,084
Net amortization of investment securities available for sale 4,702 3,069
Net gain on securities (5) (139)
Accretion of discount on purchased loans, net (22,663) (9,526)
Accretion on other borrowings 152 33
Accretion on subordinated deferrable interest debentures 1,455 1,170
Loan servicing asset impairment 30,566 141
Originations of mortgage loans held for sale (6,492,434) (2,376,070)
Payments received on mortgage loans held for sale 38,919 4,438
Proceeds from sales of mortgage loans held for sale 6,888,287 1,660,599
Net gains on sale of mortgage loans held for sale (270,503) (52,605)
Originations of SBA loans (104,160) (22,121)
Proceeds from sales of SBA loans 99,369 42,647
Net gains on sale of SBA loans (6,250) (4,220)
Increase in cash surrender value of bank owned life insurance (2,768) (1,861)
Gain on bank owned life insurance proceeds (948) (4,335)
Loss on sale of loans 0 1,954
Changes in FDIC loss-share payable, net of cash payments 223 3,695
Change attributable to other operating activities (114,858) 4,166
Net cash provided by (used in) operating activities 379,362 (587,303)
Investing Activities, net of effects of business combinations    
Proceeds from maturities of time deposits in other banks 0 10,313
Purchases of securities available for sale 0 (219,352)
Proceeds from prepayments and maturities of securities available for sale 306,886 176,760
Proceeds from sales of securities available for sale 0 64,995
Net (increase) decrease in other investments 18,095 (44,936)
Net increase in loans (2,029,595) (919,493)
Purchases of premises and equipment (14,164) (5,924)
Proceeds from sales of premises and equipment 421 5,330
Proceeds from sales of other real estate owned 7,777 7,448
Payments paid to FDIC under loss-share agreements (389) (3,692)
Proceeds from bank owned life insurance 3,381 8,178
Proceeds from sales of loans 0 96,162
Net cash and cash equivalents received in acquisitions (2,417) 244,181
Net cash used in investing activities (1,710,005) (580,030)
Financing Activities, net of effects of business combinations    
Net increase (decrease) in deposits 2,038,847 (33,042)
Net decrease in securities sold under agreements to repurchase (11,532) (24,985)
Proceeds from other borrowings 7,053,149 2,969,000
Repayment of other borrowings (7,576,455) (1,921,267)
Repayment of subordinated deferrable interest debentures (5,155) 0
Proceeds from exercise of stock options 981 3,587
Dividends paid - common stock (31,262) (14,237)
Purchase of treasury shares (7,988) (11,561)
Net cash provided by financing activities 1,460,585 967,495
Net increase (decrease) in cash and cash equivalents 129,942 (199,838)
Cash and cash equivalents at beginning of period 621,849 679,527
Cash and cash equivalents at end of period 751,791 479,689
Cash paid (received) during the period for:    
Interest 78,705 87,066
Income taxes 56,371 32,096
Loans transferred to other real estate owned 6,871 4,411
Loans transferred from loans held for sale to loans held for investment 135,689 0
Loans transferred from loans held for investment to loans held for sale 46,845 1,554
Loans provided for the sales of other real estate owned 592 144
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 11,040 262
Assets acquired in business acquisitions 0 5,186,974
Liabilities assumed in business acquisitions 0 4,317,661
Change in unrealized gain (loss) on securities available for sale, net of tax 19,109 20,778
Change in unrealized gain (loss) on cash flow hedge, net of tax $ 147 $ (470)