XML 94 R8.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Mar. 31, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Operating activities              
Net income $ 37,446,000 $ 45,110,000 $ 31,964,000 $ 33,826,000 $ 129,181,000 $ 102,500,000  
Adjustments to reconcile net income to net cash provided by operating activities:              
Provision for loan losses 1,700,000   2,250,000   4,100,000 5,810,000  
Depreciation, amortization and accretion         5,826,000 3,689,000  
Deferred income tax expense         13,911,000 7,335,000  
Funding of mortgage loans held for sale         (1,680,729,000) (1,318,484,000)  
Proceeds from sales of mortgage loans held for sale         1,543,544,000 1,253,680,000  
Gains on sales of mortgage loans held for sale         (35,416,000) (30,805,000)  
Valuation adjustment to mortgage servicing rights         3,132,000 0 $ 0
(Gains) losses on sales of securities (343,000)   16,000   (348,000) 16,000  
Penalty on prepayment of debt 54,000   0   54,000 0  
Gains on sales of premises and equipment         (1,062,000) (188,000)  
Stock-based compensation expense         7,721,000 5,556,000  
Net change in other loans held for sale         59,885,000 0  
Increase in other assets         (12,397,000) (57,000)  
Decrease in other liabilities         (7,520,000) (27,084,000)  
Net cash provided by operating activities         29,882,000 1,968,000  
Investing activities              
Purchases of securities available for sale         (366,265,000) (576,579,000)  
Proceeds from sales of securities available for sale 199,875,000   2,387,000   212,485,000 2,387,000  
Proceeds from call/maturities of securities available for sale         192,520,000 113,511,000  
Net increase in loans         (93,761,000) (156,082,000)  
Purchases of premises and equipment         (23,968,000) (15,599,000)  
Proceeds from sales of premises and equipment         2,246,000 912,000  
Net change in FHLB stock         6,389,000 0  
Proceeds from sales of other assets         17,250,000 5,286,000  
Net cash received in acquisition of businesses         0 153,502,000  
Other, net         917,000 0  
Net cash used in investing activities         (52,187,000) (472,662,000)  
Financing activities              
Net increase in noninterest-bearing deposits         288,350,000 90,240,000  
Net (decrease) increase in interest-bearing deposits         (129,873,000) 448,675,000  
Net (decrease) increase in short-term borrowings         (182,104,000) 51,606,000  
Repayment of long-term debt         (33,631,000) (643,000)  
Cash paid for dividends         (38,242,000) (31,242,000)  
Repurchase of shares in connection with stock repurchase program         (41,645,000) 0  
Net stock-based compensation transactions         0 201,000  
Net cash (used in) provided by financing activities         (137,145,000) 558,837,000  
Net (decrease) increase in cash and cash equivalents         (159,450,000) 88,143,000  
Cash and cash equivalents at beginning of period   $ 569,111,000   $ 281,453,000 569,111,000 281,453,000 281,453,000
Cash and cash equivalents at end of period $ 409,661,000   $ 369,596,000   409,661,000 369,596,000 $ 569,111,000
Supplemental disclosures              
Cash paid for interest         75,720,000 43,317,000  
Cash paid for income taxes         25,892,000 21,305,000  
Noncash transactions:              
Transfers of loans to other real estate owned         3,613,000 2,657,000  
Financed sales of other real estate owned         254,000 495,000  
Common stock issued in acquisition of businesses         0 434,519,000  
Recognition of operating right-of-use assets         89,770,000    
Recognition of operating lease liabilities         93,289,000    
Mortgage receivable              
Noncash transactions:              
Transfers of mortgage loans held for sale to loans held for investment         189,000 1,510,000  
Loans receivable              
Noncash transactions:              
Transfers of mortgage loans held for sale to loans held for investment         $ 134,335,000 $ 0