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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net Income $ 618,158 $ 107,681 $ 216,691
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Provision for loan losses 228,072 325,424 170,016
Goodwill impairment losses 0 0 3,801
Amortization of intangibles 9,326 9,378 12,144
Depreciation and amortization of premises and equipment 53,300 48,364 46,874
Net accretion of discounts and amortization of premiums and deferred fees (87,154) (22,310) (40,786)
Share-based compensation 10,521 0 0
Impairment losses on long-lived assets 272 4,784 0
Other-than-temporary impairment on investment securities 0 8,299 209
Fair value adjustments on mortgage servicing rights 8,477 36,519 25,336
FDIC loss share (income) expense (94,725) 10,066 207,779
Adjustments (expense) to indemnity reserves on loans sold 12,959 22,377 17,285
Earnings from investments under the equity method, net of dividends or distributions (24,217) (18,247) (14,405)
Deferred income tax (benefit) expense (12,320) 207,428 61,574
Loss (gain) on:      
Disposition of premises and equipment and other productive assets 15,984 4,281 4,094
Proceeds from insurance claims (20,147) 0 0
Early extinguishment of debt 12,522 0 0
Sale and valuation adjustments of debt securities 0 (83) (39)
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities (9,681) (16,670) (35,517)
Sale of foreclosed assets, including write-downs 6,833 21,715 19,357
Acquisitions of loans held-for-sale (232,264) (244,385) (310,217)
Proceeds from sale of loans held-for-sale 66,687 69,464 89,887
Net originations on loans held-for-sale (254,582) (315,522) (510,783)
Net decrease (increase) in:      
Trading debt securities 458,447 503,108 754,478
Equity securities (1,622) (1,269) 8,487
Accrued income receivable 49,288 (75,802) (13,808)
Other assets 264,841 (65,844) (47,130)
Net (decrease) increase in:      
Interest payable (9,786) 2,549 165
Pension and other postretirement benefits obligation 4,558 (13,100) (55,678)
Other liabilities (226,244) 28,279 (13,241)
Total adjustments 229,345 528,803 379,882
Net cash provided by operating activities 847,503 636,484 596,573
Cash flows from investing activities:      
Net increase (decrease) in money market investments 1,083,515 (2,366,932) (713,538)
Purchases of investment securities:      
Available-for-sale (10,050,165) (4,139,650) (3,407,779)
Equity (13,068) (29,672) (14,130)
Proceeds from calls, paydowns, maturities and redemptions of investment securities:      
Available-for-sale 6,946,209 2,023,295 1,227,966
Held-to-maturity 7,280 6,232 4,588
Equity 0 0 9,539
Proceeds from sale of investment securities:      
Available-for-sale 0 14,423 4,815
Equity 24,209 30,250 0
Net repayments (disbursements) on loans (6,665) (398,676) (267,205)
Proceeds from sale of loans 29,669 415 141,363
Acquisition of loan portfolios (601,550) (535,534) (535,445)
Net payments (to) from FDIC under loss sharing agreements (25,012) (7,679) 98,518
Net cash received and acquired from business combination (1,843,333) 0 0
Acquisition of premises and equipment (80,549) (62,697) (100,320)
Proceeds from insurance claims 20,147 0 0
Proceeds from sale of:      
Premises and equipment and other productive assets 9,185 9,753 8,897
Foreclosed assets 105,371 96,540 83,357
Net cash used in investing activities (4,390,667) (5,351,738) (3,454,526)
Net increase (decrease) in:      
Deposits 4,259,651 4,954,105 3,286,428
Assets sold under agreements to repurchase (109,391) (88,505) (282,719)
Other short-term borrowings (96,167) 95,008 0
Payments of notes payable (755,966) (95,607) (254,816)
Payments for debt extinguishment (12,522) 0 0
Proceeds from issuance of notes payable 473,819 55,000 165,047
Proceeds from issuance of common stock 7,268 7,016 7,437
Dividends paid (105,441) (95,910) (65,932)
Net payments for repurchase of common stock (125,264) (75,664) (563)
Payments related to tax witholding for share-based compensation (2,201) (1,756) (1,623)
Net cash provided by financing activities 3,533,786 4,753,687 2,853,259
Net (decrease) increase in cash and due from banks, and restricted cash (9,378) 38,433 (4,694)
Cash and due from banks and restricted cash at beginning of period 412,629 [1] 374,196 378,890
Cash and due from banks and restricted cash at end of period $ 403,251 [1] $ 412,629 [1] $ 374,196
[1]
Refer to Note 5 - Restrictions on cash and due from banks and certain securities for nature of restrictions.