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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 87,268 $ 113,330
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,734 12,798
Stock-based compensation 3,684 4,033
Provision for credit losses 34,683 8,000
Net amortization of premiums and accretion of discounts on securities and borrowings 6,685 7,560
Amortization of other intangible assets 5,470 4,311
Losses on securities transactions, net 40 32
Proceeds from sales of loans held for sale 168,392 96,189
Gains on sales of loans, net 4,550 4,576
Originations of loans held for sale (147,981) (89,564)
Gains on sales of assets, net (121) (77,720)
Net change in:    
Cash surrender value of bank owned life insurance (3,142) (1,887)
Accrued interest receivable (1,716) (5,426)
Other assets (401,849) (38,990)
Accrued expenses and other liabilities 122,426 65,212
Net cash (used in) provided by operating activities (115,977) 93,302
Cash flows from investing activities:    
Net loan originations and purchases (667,555) (493,689)
Equity securities:    
Purchases (5,214) 0
Held to maturity debt securities:    
Purchases (103,192) (77,670)
Maturities, calls and principal repayments 118,541 68,165
Available for sale debt securities:    
Purchases 238,488 0
Maturities, calls and principal repayments 88,688 45,351
Death benefit proceeds from bank owned life insurance 1,184 644
Proceeds from sales of real estate property and equipment 6,352 101,916
Proceeds from sales of loans held for investment 30,020 99,976
Purchases of real estate property and equipment (9,235) (3,817)
Net cash used in investing activities (778,899) (259,124)
Cash flows from financing activities:    
Net change in deposits (168,849) 454,522
Net change in short-term borrowings 1,002,375 (56,338)
Proceeds from issuance of long-term borrowings, net 725,242 0
Repayments of long-term borrowings (42,128) (155,000)
Cash dividends paid to preferred shareholders (3,172) 0
Cash dividends paid to common shareholders (44,682) (37,053)
Purchase of common shares to treasury (2,094) (1,367)
Common stock issued, net (1,358) (855)
Other, net (130) (119)
Net cash provided by financing activities 1,465,204 203,790
Net change in cash and cash equivalents 570,328 37,968
Cash and cash equivalents at beginning of year 434,687 428,629
Cash and cash equivalents at end of period 1,005,015 466,597
Cash payments for:    
Interest on deposits and borrowings 104,797 93,405
Federal and state income taxes 4,215 3,204
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 2,750 730
Transfer of loans to loans held for sale 30,020 99,976
Lease right of use assets obtained in exchange for operating lease liabilities $ 3,121 $ 289,669