XML 18 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 106,783 $ 101,524
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 36,296 57
Net amortization of debt securities 6,831 8,707
Net amortization (accretion) of purchase accounting adjustments and deferred loan fees and costs 33,329 (2,187)
Amortization of debt modification costs 0 825
Origination of loans held for sale (847,288) (353,921)
Proceeds from loans held for sale 849,626 346,144
Gain on sale of loans (37,720) (13,560)
Gain on sale of debt securities (991) (347)
Bank-owned life insurance income, net (1,356) (1,021)
Stock-based compensation, net of tax benefits 1,994 1,850
Depreciation and amortization of premises and equipment 9,907 9,011
Gain on sale and write-downs of other real estate owned, net (169) (334)
Amortization of core deposit intangibles 5,146 3,559
Amortization of investments in variable interest entities 4,973 3,885
Net increase in accrued interest receivable (19,529) (3,213)
Net increase in other assets (15,048) (6,520)
Net (decrease) increase in accrued interest payable (602) 749
Net increase (decrease) in other liabilities 4,992 (9,518)
Net cash provided by operating activities 137,174 85,690
Investing Activities    
Sales of available-for-sale debt securities 0 415,093
Maturities, prepayments and calls of available-for-sale debt securities 341,724 247,854
Purchases of available-for-sale debt securities (1,042,423) (457,915)
Maturities, prepayments and calls of held-to-maturity debt securities 20,250 32,575
Principal collected on loans 1,835,968 1,364,270
Loan originations (3,371,733) (1,675,181)
Net additions to premises and equipment (4,861) (11,882)
Proceeds from sale of other real estate owned 1,523 2,440
Proceeds from redemption of non-marketable equity securities 75,049 76,948
Purchases of non-marketable equity securities (71,398) (71,198)
Investments in variable interest entities (7,321) (6,451)
Net cash received from acquisitions 43,713 11,307
Net cash used in investing activities (2,179,509) (72,140)
Financing Activities    
Net increase in deposits 2,001,950 86,429
Net increase in securities sold under agreements to repurchase 304,154 97,091
Net decrease in short-term Federal Home Loan Bank advances (30,000) (120,000)
Proceeds from long-term Federal Home Loan Bank advances 30,000 0
Repayments of long-term Federal Home Loan Bank advances (631) (987)
Net increase in other borrowed funds 43 54
Cash dividends paid (46,324) (47,560)
Tax withholding payments for stock-based compensation (1,003) (1,158)
Proceeds from stock option exercises 795 0
Net cash provided by financing activities 2,258,984 13,869
Net increase in cash, cash equivalents and restricted cash 216,649 27,419
Cash, cash equivalents and restricted cash at beginning of period 330,961 203,790
Cash, cash equivalents and restricted cash at end of period 547,610 231,209
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 16,282 22,244
Cash paid during the period for income taxes 8,550 21,680
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Sale and refinancing of other real estate owned 215 7
Transfer of loans to other real estate owned 791 1,914
Right-of-use assets obtained in exchange for operating lease liabilities 5,253 3,862
Dividends declared during the period but not paid 27,785 23,482
Fair value of common stock shares issued 112,133 87,153
Cash consideration 13,721 4
Fair Value of Assets Acquired 744,109 379,155
Liabilities Assumed $ 618,255 $ 291,998