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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 28,628 $ 45,839
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 25,448 14,083
Depreciation and amortization 8,464 6,489
Stock-based compensation expense 1,537 2,996
Pension expense (income) 400 375
Net amortization (accretion) on investment securities 3,981 2,649
Net (gain) loss on sales of investment securities 59 178
Originations of loans held for sale (111,112) (41,227)
Net gains from sales of loans held for sale (2,831) (1,890)
Proceeds from sales of loans held for sale 100,288 39,273
Deferred income taxes 2,975 12,625
Amortization of operating leases 2,020 1,826
Payments for operating leases (1,288) (1,823)
Decrease (increase) cash surrender value of life insurance 198 1,534
Decrease (increase) in interest receivable (878) (3,109)
(Decrease) increase in interest payable (2,197) 322
Decrease (increase) in other assets (362,619) (30,168)
(Decrease) increase in other liabilities 181,099 (8,908)
Net cash provided by (used in) operating activities (126,224) 37,996
Investing activities    
Proceeds from sales of securities available-for-sale 29,922 0
Proceeds from calls, paydowns and maturities of securities available-for-sale 151,629 95,114
Purchases of securities available-for-sale (234,589) (143,290)
Proceeds from calls, paydowns and maturities of securities held-to-maturity 6,186 2,398
Payments to Acquire Other Investments 18,659 0
Net decrease (increase) in interest-bearing deposits with other banks (14,123) (12,486)
Net decrease (increase) in loans and leases (105,697) 438
Proceeds from disposal of other real estate owned 900 183
Purchases of premises and equipment (5,805) (1,268)
Net cash provided by (used in) investing activities (190,236) (58,911)
Financing activities    
Net (decrease) increase in total deposits 425,329 (6,379)
Net (decrease) increase in short-term borrowings 81,543 6,724
Payments of long-term debt 90,066 25,187
Cash dividends paid on common stock (22,531) (21,550)
Treasury stock purchase 16,686 0
Proceeds from exercise of stock options 72 90
Net cash provided by (used in) financing activities 377,661 (46,302)
Cash and due from banks:    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 61,201 (67,217)
Cash and due from banks at beginning of period 200,691 236,221
Cash and due from banks at end of period $ 261,892 $ 169,004