XML 29 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 92,188 $ 90,930 $ 68,014
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 7,550 7,530 4,750
Depreciation, amortization and accretion 4,832 3,091 9,195
Deferred income tax expense 23,461 11,037 13,751
Revaluation of net deferred tax assets due to changes in tax law 14,486 0 0
Funding of mortgage loans held for sale (1,683,454) (1,951,144) (1,483,937)
Proceeds from sales of mortgage loans held for sale 1,775,450 2,031,036 1,647,648
Gains on sales of mortgage loans held for sale (19,675) (31,654) (25,292)
Gains on sales of securities (148) (1,186) (96)
Loss on extinguishment of debt 205 2,539 0
Losses on sales of premises and equipment 565 115 105
Stock-based compensation 5,293 3,117 4,435
Decrease in FDIC loss share indemnification asset, net of accretion and amortization 0 2,891 4,409
Loss on termination of FDIC loss share agreements 0 2,053 0
(Increase) decrease in other assets (6,620) 10,136 9,463
(Decrease) increase in other liabilities (12,572) (16,694) 180
Net cash provided by operating activities 201,561 163,797 252,625
Investing activities      
Purchases of securities available for sale (210,190) (140,133) (72,114)
Proceeds from sales of securities available for sale 495,340 4,028 8,444
Proceeds from call/maturities of securities available for sale 169,445 158,359 111,663
Purchases of securities held to maturity 0 (15,267) (144,027)
Proceeds from sales of securities held to maturity 0 0 0
Proceeds from call/maturities of securities held to maturity 15,882 119,405 145,449
Net increase in loans (440,205) (504,640) (298,676)
Purchases of premises and equipment (13,047) (13,560) (25,165)
Proceeds from sales of premises and equipment 2,101 2,462 2,219
Proceeds from sales of other assets 14,131 16,939 0
Payment made to FDIC to terminate loss share agreements 0 (4,849) 0
Net cash received in acquisition 41,685 25,263 24,776
Net cash provided by (used in) investing activities 75,142 (351,993) (247,431)
Financing activities      
Net increase in noninterest-bearing deposits 11,588 209,943 79,342
Net (decrease) increase in interest-bearing deposits (88,717) 279,146 (77,124)
Net (decrease) increase in short-term borrowings (19,862) (314,952) 375,220
Proceeds from long-term debt 0 98,385 40
Repayment of long-term debt (170,240) (47,230) (308,766)
Cash paid for dividends (34,416) (29,734) (24,557)
Cash received on exercise of stock-based compensation 173 415 102
Excess tax benefits from exercise of stock options 0 2,771 537
Proceeds from equity offering 0 84,105 0
Net cash (used in) provided by financing activities (301,474) 282,849 44,794
Net (decrease) increase in cash and cash equivalents (24,771) 94,653 49,988
Cash and cash equivalents at beginning of year 306,224 211,571 161,583
Cash and cash equivalents at end of year 281,453 306,224 211,571
Supplemental disclosures      
Cash paid for interest 36,888 25,871 21,615
Cash paid for income taxes 32,556 22,731 18,610
Noncash transactions:      
Transfers of loans to other real estate 6,699 8,870 14,935
Financed sales of other real estate owned 773 2,070 1,134
Transfers of loans held for sale to loan portfolio 563 17,838 11,096
Common stock issued in acquisition of businesses $ 213,590 $ 55,290 $ 281,530