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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 $ 114,767 $ 96,160
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 13,783 12,549
Stock-based compensation 12,153 6,872
Provision for credit losses 18,090 6,102
Net amortization of premiums and accretion of discounts on securities and borrowings 17,212 11,366
Amortization of other intangible assets 8,910 5,098
Losses on securities transactions, net 801 1
Proceeds from sales of loans held for sale 437,876 303,268
Gains on sales of loans, net (14,395) (8,919)
Originations of loans held for sale (446,849) (154,475)
Losses on sales of assets, net 222 453
Net change in    
Cash surrender value of bank owned life insurance (4,415) (4,164)
Accrued interest receivable (2,042) (2,916)
Other assets (55,464) (1,521)
Accrued expenses and other liabilities (16,281) (20,709)
Net cash provided by operating activities 84,368 249,165
Cash flows from investing activities    
Net loan originations and purchases (1,158,514) (707,654)
Investment securities held to maturity    
Purchases (100,160) (60,230)
Maturities, calls and principal repayments 120,876 157,351
Investment securities available for sale    
Purchases (239,226) (252,770)
Sales 38,625 0
Maturities, calls and principal repayments 124,635 87,188
Death benefit proceeds from bank owned life insurance 2,652 1,998
Proceeds from sales of real estate property and equipment 9,773 6,822
Purchases of real estate property and equipment (12,811) (12,976)
Cash and cash equivalents acquired in acquisition 156,612 0
Net cash used in investing activities (1,057,538) (780,271)
Cash flows from financing activities    
Net change in deposits (77,533) (480,690)
Net change in short-term borrowings 1,479,305 653,484
Proceeds from issuance of long-term borrowings, net 0 560,000
Repayments of long-term borrowings (300,027) (175,000)
Cash dividends paid to preferred shareholders (6,344) (3,594)
Cash dividends paid to common shareholders (65,989) (58,000)
Purchase of common shares to treasury (2,598) (2,183)
Common stock issued, net 2,512 2,377
Net cash provided by financing activities 1,029,326 496,394
Net change in cash and cash equivalents 56,156 (34,712)
Cash and cash equivalents at beginning of year 416,110 392,501
Cash and cash equivalents at end of period 472,266 357,789
Cash payments for    
Interest on deposits and borrowings 124,816 100,380
Federal and state income taxes 29,280 7,683
Supplemental schedule of non-cash investing activities    
Transfer of loans to other real estate owned 672 5,865
Transfer of loans to loans held for sale 263,324 225,541
Non-cash assets acquired:    
Loans 3,744,682 0
Premises and equipment 62,066 0
Bank owned life insurance 49,052 0
Accrued interest receivable 12,123 0
Goodwill 388,255 0
Other intangible assets 45,906 0
Other assets 98,134 0
Total non-cash assets acquired 4,922,820 0
Liabilities assumed:    
Deposits 3,564,843 0
Short-term borrowings 649,979 0
Long-term borrowings 87,283 0
Junior subordinated debentures issued to capital trusts 13,249 0
Accrued expenses and other liabilities 26,848 0
Total liabilities assumed 4,342,202 0
Net non-cash assets acquired 580,618 0
Common stock issued in acquisition 737,230 0
Held-to-maturity Securities    
Non-cash assets acquired:    
Investment securities 214,217 0
Available for Sale Securities    
Non-cash assets acquired:    
Investment securities $ 308,385 $ 0