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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
NET CASH PROVIDED BY OPERATING ACTIVITIES $ 72,099 $ 31,786
INVESTING ACTIVITIES    
Proceeds from maturities and calls of securities held to maturity 210 2,000
Proceeds from sales of securities available for sale 164,850 248,187
Proceeds from maturities and calls of securities available for sale 248,856 136,576
Purchases of securities available for sale (159,548) (338,983)
Proceeds from sales of equity securities 1,042 1,497
Purchases of equity securities (514) (618)
Proceeds from sales and redemptions of other investment securities 97,177 50,271
Purchases of other investment securities (110,191) (75,228)
Redemption of bank-owned life insurance policies 1,186 2,829
Purchases of bank premises and equipment (6,831) (4,110)
Proceeds from sales of bank premises and equipment 278 251
Proceeds from the sales of OREO properties 5,106 3,870
Acquisition of Carolina Financial Corporation, net of cash paid 629,107 0
Net change in loans (1,028,035) (203,898)
NET CASH USED IN INVESTING ACTIVITIES (157,307) (177,356)
FINANCING ACTIVITIES    
Cash dividends paid (71,862) (69,732)
Acquisition of treasury stock (608) (18,104)
Proceeds from exercise of stock options 288 1,020
Repayment of long-term Federal Home Loan Bank borrowings (828,000) (1,115,000)
Proceeds from issuance of long-term Federal Home Loan Bank borrowings 250,000 1,400,000
Changes in:    
Deposits 2,159,196 409,731
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (198,486) (229,168)
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,310,528 378,747
Increase in cash and cash equivalents 1,225,320 233,177
Cash and cash equivalents at beginning of year 837,493 1,020,396
Cash and cash equivalents at end of period 2,062,813 1,253,573
Noncash investing activities:    
Transfers of loans to OREO 18,925 3,133
Transfer of held to maturity debt securities to available for sale debt securities $ 0 $ 11,544