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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net Income $ 134,743 $ 50,244 $ 64,080
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 13,170 10,964 12,986
Depreciation of premises and equipment, net 8,329 8,557 7,477
Amortization of fees and discounts, net 15,255 19,082 19,626
Amortization of intangible assets 2,942 3,078 2,438
Income from mortgage banking activities, net (6,286) (6,293) (7,434)
Gain on sale of debt securities, net (21) (1,984) (2,369)
Gain on sale of equity investments, net (3,757) 0 0
Loss on sale of other real estate owned and valuation adjustments, net 100 217 313
Stock-based compensation expense 2,292 3,396 3,046
Unrealized gain on equity investments (20,745) 0 0
Debt extinguishment costs 0 695 0
Deferred income tax expense 3,378 17,899 5,370
Increase in accrued interest receivable (2,596) (2,378) (2,009)
(Increase) decrease in other assets (6,297) (2,517) 443
Origination of loans held for sale (351,108) (354,659) (366,859)
Proceeds from sales of loans held for sale 352,002 369,986 346,895
Increase (decrease) in accrued interest payable 863 (114) 350
(Decrease) increase in other liabilities (2,931) 7,353 3,709
Provision for legal settlement 0 12,000 0
Increase in value of bank-owned life insurance (158) (1,130) (2,551)
Increase in capitalized interest, net (3,601) (4,228) (5,331)
Net cash provided by operating activities 135,574 130,168 80,180
Investing activities:      
Purchases of investment securities held to maturity 0 0 (3,329)
Repayments, maturities and calls of investment securities held to maturity 9,245 1,230 2,890
Sales of investment securities available for sale 7,012 457,046 201,580
Purchases of investment securities available for sale (498,465) (696,581) (371,590)
Repayments of investment securities available for sale 112,665 197,765 85,200
Proceeds of bank-owned life insurance death benefits 0 371 0
Proceeds from bank-owned life insurance surrender 96,429 0 0
Net cash for business combinations 0 0 39,794
Purchases of Visa Class B shares (101,174) (343,858) (217,572)
Net increase in loans (1,568) (10,072) (387)
Sale of Visa Class B shares 6,186 0 0
Purchases of stock of Federal Home Loan Bank of Pittsburgh (169,613) (160,089) (88,176)
Redemptions of stock of Federal Home Loan Bank of Pittsburgh 181,638 167,053 80,447
Sales of other real estate owned 3,037 6,077 4,423
Investment in premises and equipment (5,500) (7,728) (9,873)
Sales of premises and equipment 198 0 0
Net cash used for investing activities (359,910) (388,786) (276,593)
Financing activities:      
Net increase in demand and savings deposits 393,827 353,521 272,544
Net increase (decrease) in time deposits 43,871 35,887 (51,416)
Net (decrease) increase in brokered deposits (31,712) 90,482 (17,928)
Decrease in loan payable 0 (338) (370)
Receipts from FHLB advances 83,721,532 143,852,751 121,977,563
Repayments of FHLB advances (84,103,068) (143,996,986) (121,792,841)
Receipts from federal funds purchased and securities sold under agreement to repurchase 21,239,675 23,008,000 27,702,620
Repayments of federal funds purchased and securities sold under agreement to repurchase (21,109,700) (23,110,000) (27,700,820)
Repayment of long-term debt 0 0 (10,000)
Dividends paid (13,249) (9,425) (7,632)
Issuance of common stock and exercise of common stock options 11,253 3,421 1,900
Repayment of senior debt 0 (55,000) 0
Issuance of senior debt 0 0 97,849
Purchase of treasury stock (31,202) (11,752) (14,312)
Net cash provided by financing activities 121,227 160,561 457,157
(Decrease) increase in cash and cash equivalents (103,109) (98,057) 260,744
Cash and cash equivalents at beginning of year 723,866 821,923 561,179
Cash and cash equivalents at end of year 620,757 723,866 821,923
Supplemental disclosure of cash flow information:      
Interest 45,636 33,569 22,483
Income taxes 33,316 31,441 24,825
Non-cash information:      
Loans transferred to other real estate owned 3,302 5,206 2,251
Loans transferred to portfolio from held-for-sale at fair value 9,553 13,142 12,919
Non-cash information: 0 0 534,375
Loans transferred to other real estate owned 0 0 589,632
Fair value of assets acquired, net of cash received $ 0 $ (1,532) $ 2,112