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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 309,793 $ 261,428 $ 161,907
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 53,317 27,554 24,845
Stock-based compensation 14,726 19,472 12,204
Provision for credit losses 24,218 32,501 9,942
Net amortization of premiums and accretion of discounts on securities and borrowings 29,512 38,454 46,346
Amortization of other intangible assets 18,080 18,416 10,016
Losses on securities transactions, net 150 2,342 20
Proceeds from sales of loans held for sale 1,743,470 687,983 813,855
Gains on sales of loans, net (18,914) (20,515) (20,814)
Net impairment losses on securities recognized in earnings 2,928 0 0
Originations of loans held for sale (537,985) (406,087) (444,290)
(Gains) losses on sales of assets, net (78,333) 2,402 95
Net deferred income tax (benefit) expense 15,228 (11,780) 76,848
Net change in:      
Cash surrender value of bank owned life insurance (8,232) (8,691) (7,338)
Accrued interest receivable 1,440 (9,183) (7,174)
Other assets (163,330) (33,145) (57,353)
Accrued expenses and other liabilities 57,882 (7,562) 121
Net cash provided by operating activities 1,463,950 593,589 619,230
Cash flows from investing activities:      
Net loan originations and purchases (2,538,909) (3,257,939) (1,418,073)
Equity securities:      
Purchases (14,776) 0 0
Sales 24,748 0 0
Held to maturity debt securities:      
Purchases (701,879) (264,721) (220,356)
Maturities, calls and principal repayments 424,475 241,077 290,929
Available for sale debt securities:      
Purchases (30,392) (289,554) (411,788)
Sales 271,901 44,377 2,727
Maturities, calls and principal repayments 316,024 255,031 204,684
Death benefit proceeds from bank owned life insurance 9,560 4,220 13,089
Proceeds from sales of real estate property and equipment 109,043 7,786 9,357
Purchases of real estate property and equipment (23,375) (26,440) (18,117)
Cash and cash equivalents acquired in acquisitions 22,239 156,612 0
Net cash used in investing activities (2,131,341) (3,129,551) (1,547,548)
Cash flows from financing activities:      
Net change in deposits 1,808,148 2,734,669 422,754
Net change in short-term borrowings (1,036,134) 720,307 (332,332)
Proceeds from issuance of long-term borrowings, net 950,000 0 1,065,000
Repayments of long-term borrowings (890,000) (750,682) (185,000)
Proceeds from issuance of preferred stock, net 0 0 98,101
Cash dividends paid to preferred shareholders (12,688) (15,859) (6,277)
Cash dividends paid to common shareholders (146,537) (138,857) (115,881)
Purchase of common shares to treasury (1,805) (3,801) (2,645)
Common stock issued, net 2,957 2,704 8,207
Other, net (492) 0 0
Net cash provided by financing activities 673,449 2,548,481 951,927
Net change in cash and cash equivalents 6,058 12,519 23,609
Cash and cash equivalents at beginning of year 428,629 416,110 392,501
Cash and cash equivalents at end of year 434,687 428,629 416,110
Supplemental disclosures of cash flow information:      
Interest on deposits and borrowings 415,649 290,444 170,614
Federal and state income taxes 106,336 53,587 29,013
Supplemental schedule of non-cash investing activities:      
Transfer of loans to other real estate owned 5,100 743 7,301
Loans transferred to loans held for sale 1,234,022 289,633 313,201
Lease right of use assets obtained in exchange for operating lease liabilities 312,143    
Non-cash assets acquired:      
Equity securities 51,382 0 0
Loans 3,380,841 3,736,984 0
Premises and equipment 23,585 62,066 0
Bank owned life insurance 101,896 49,052 0
Accrued interest receivable 11,781 12,123 0
Goodwill 288,960 394,028 0
Other intangible assets 20,690 45,906 0
Other assets 50,174 100,059 0
Total non-cash assets acquired 4,270,080 4,922,820 0
Liabilities assumed:      
Deposits 2,924,716 3,564,843 0
Short-term borrowings 10,500 649,979 0
Long-term borrowings 430,130 87,283 0
Junior subordinated debentures issued to capital trusts 0 13,249 0
Accrued expenses and other liabilities 91,718 26,848 0
Total liabilities assumed 3,457,064 4,342,202 0
Net non-cash assets acquired 813,016 580,618 0
Net cash and cash equivalents acquired in acquisition 22,239 156,612 0
Common stock issued in acquisition 835,255 737,230 0
Available-for-sale securities      
Non-cash assets acquired:      
Investment securities 335,894 308,385 0
Held-to-maturity securities      
Non-cash assets acquired:      
Investment securities $ 4,877 $ 214,217 $ 0