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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Net income $ 220,621 $ 382,723 $ 360,418
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 137,750 37,800 42,000
Deferred tax expense (benefit) (31,236) 927 9,472
Depreciation and amortization 36,616 37,507 38,750
Amortization of earning assets and funding premium/discount, net 75,929 49,731 50,984
Stock-based compensation 12,179 12,626 11,612
Gain on sale, net of write-down, on foreclosed and repossessed assets (1,938) (729) (709)
Loss (gain) on sale, net of write-down, on premises and equipment 1,105 1,340 346
Gain on the sale of investment securities, net (8) (29) 0
Increase in cash surrender value of life insurance policies (14,561) (14,612) (14,614)
Gain from life insurance policies (1,219) (4,933) (2,553)
Mortgage banking activities (18,295) (6,115) (4,424)
Proceeds from sale of loans held for sale 486,341 216,239 188,025
Originations of loans held for sale (449,803) (240,305) (171,883)
Net change in right-of-use lease assets 27,868 2,479 0
Net decrease (increase) in derivative contract assets net of liabilities (118,336) (123,752) (4,615)
Gain on sale of banking center deposits 0 0 (4,596)
Net (increase) decrease in accrued interest receivable and other assets 25,657 (23,790) (739)
Net (decrease) increase in accrued expenses and other liabilities (8,121) (23,257) (28,066)
Net cash provided by operating activities 380,549 303,850 469,408
Investing Activities:      
Purchases of available-for-sale securities (990,904) (549,541) (873,108)
Proceeds from maturities and principal payments of available-for-sale securities 627,577 556,283 538,747
Proceeds from sales of available-for-sale securities 8,963 70,087 0
Purchases of held-to-maturity securities (1,297,535) (1,571,604) (393,693)
Proceeds from maturities and principal payments of held-to-maturity securities 983,864 573,703 524,862
Net proceeds from (purchase of) Federal Home Loan Bank stock 71,452 240 2,280
Purchases of intercompany debt securities (12,244) (6,065) (1,215)
Net increase in loans (1,681,947) (1,642,501) (990,014)
Proceeds from loans not originated for sale 9,197 20,931 1,687
Proceeds from life insurance policies 1,885 12,866 4,271
Proceeds from the sale of foreclosed properties and repossessed assets 11,497 11,562 8,011
Proceeds from the sale of premises and equipment 866 0 567
Additions to premises and equipment (21,280) (25,717) (32,958)
Net (increase) decrease in interest-bearing deposits 0 0 (107,361)
Net cash provided by (used for) investing activities (2,288,609) (2,549,756) (1,317,924)
Financing Activities:      
Net increase in deposits 4,006,319 1,465,377 979,519
Proceeds from Federal Home Loan Bank advances 3,850,000 9,200,000 8,960,000
Repayments of Federal Home Loan Bank advances (5,665,312) (9,078,332) (8,810,297)
Net (decrease) increase in securities sold under agreements to repurchase and other borrowings (45,076) 458,557 (61,395)
Issuance of long-term debt 0 300,000 0
Debt issuance costs 0 (3,642) 0
Dividends paid to common shareholders (144,965) (140,783) (114,959)
Dividends paid to preferred shareholders (7,875) (7,875) (7,875)
Exercise of stock options 240 619 2,173
Common stock repurchased (76,556) (13,003) (12,158)
Common shares acquired related to stock compensation plan activity (3,506) (6,616) (13,779)
Net cash (used for) provided by financing activities 1,913,269 2,174,302 921,229
Net (decrease) increase in cash and cash equivalents 5,209 (71,604) 72,713
Cash and cash equivalents at beginning of year 257,895 329,499 256,786
Cash and cash equivalents at end of year 263,104 257,895 329,499
Supplemental disclosure of cash flow information:      
Interest paid 118,123 197,200 144,726
Income taxes paid 94,072 110,057 60,925
Noncash investing and financing activities:      
Transfer of loans and leases to foreclosed properties and repossessed assets 5,394 10,440 8,105
Transfer of loans from portfolio to loans held for sale 8,578 16,609 5,443
Deposits assumed $ 4,657 $ 0 $ 0