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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 104,587 $ 136,709
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 5,332 18,009
Provision for credit losses 77,527 9,650
Stock based compensation 5,939 7,680
Deferred income tax expense 189 12,149
Securities (gains) losses, net (746) 118
Gains from sales of other loans (3,889) (4,783)
Changes in assets and liabilities:    
Other assets and accrued interest receivable (44,570) (47,543)
Accrued expenses and other liabilities (20,869) (188)
Loans held for sale (69,875) (35,690)
Net cash provided by operating activities 53,625 96,111
Debt securities held-to-maturity:    
Proceeds from maturities and calls 45,171 39,787
Purchases (105,622) (8,499)
Debt securities available-for-sale and equity securities:    
Proceeds from sales 40,365 225,883
Proceeds from maturities and calls 604,180 238,514
Purchases (668,484) (45,629)
Net increase in loans (1,523,516) (296,076)
Proceeds from sales of premises and equipment 641 5,870
Purchases of premises and equipment (5,991) (16,532)
Net cash received in (paid for) acquisition 194,606 (19,545)
Proceeds from sale of other real estate 466 2,344
Other investing activities, net (8,185) 0
Net cash (used in) provided by investing activities (1,426,369) 126,117
Financing activities:    
Net increase in deposits 1,904,549 10,538
Repayment of long-term debt 0 (27,500)
Proceeds from FHLB advances 5,000 1,625,000
Repayment of FHLB advances (134,121) (1,745,000)
Proceeds from issuance of senior debentures, net of issuance costs 98,552 0
Proceeds from issuance of common stock for dividend reinvestment and employee benefit plans 1,078 2,004
Proceeds from exercise of stock options 0 197
Cash paid for shares withheld to cover payroll taxes upon vesting of restricted stock units (2,640) (1,261)
Proceeds from issuance of Series I preferred stock, net of issuance costs 96,422 0
Repurchase of common stock (20,782) (13,020)
Cash dividends on common stock (43,067) (39,392)
Cash dividends on preferred stock (1,814) 0
Net cash provided by (used in) financing activities 1,903,177 (188,434)
Net change in cash and cash equivalents, including restricted cash 530,433 33,794
Cash and cash equivalents, including restricted cash, at beginning of period 515,206 327,265
Cash and cash equivalents, including restricted cash, at end of period 1,045,639 361,059
Significant non-cash investing and financing transactions:    
Unsettled government guaranteed loan sales 328 6,850
Transfers of loans to foreclosed properties 586 853
Unsettled securities purchases 30,045 0
Acquisitions:    
Assets acquired 2,174,723 264,937
Liabilities assumed 1,987,026 212,844
Net assets acquired 187,697 52,093
Common stock issued for acquisition $ 163,589 $ 0