XML 89 R6.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net income $ 185,445 $ 160,067
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 25,462 20,810
Provision for loan losses 38,337 28,528
Gain on sale of investments (12,937) (53)
Net accretion of investment securities and assets (35,272) (41,423)
Net amortization (accretion) on borrowings 273 (471)
Stock-based compensation expense 9,316 8,448
(Gain) loss on sale of foreclosed assets held for sale (16) 150
Gain on sale of mortgage loans held for sale (14,196) (9,675)
Loss (gain) on sale of loans 4,451 (10)
Gain on sale of Visa, Inc. class B common stock (42,860)  
Fair value write-down of closed branches 0 954
Deferred income taxes 10,933 7,316
Income from bank owned life insurance (3,438) (3,310)
Originations of mortgage loans held for sale (499,178) (424,751)
Proceeds from sale of mortgage loans held for sale 490,674 410,269
Changes in assets and liabilities:    
Interest receivable (679) (7,798)
Lease right-of-use assets (1,370)  
Other assets 3,802 (24,695)
Accrued interest and other liabilities 10,881 23,821
Income taxes payable 18,722 3,956
Net cash provided by operating activities 188,350 152,133
INVESTING ACTIVITIES    
Net originations of loans (299,013) (1,034,175)
Proceeds from sale of loans 104,587 24,977
Decrease (increase) in due from banks - time 395 (640)
Purchases of premises and equipment, net (37,523) (17,084)
Proceeds from sale of foreclosed assets held for sale 16,139 20,739
Proceeds from sale of available-for-sale securities 561,374 7,726
Proceeds from maturities of available-for-sale securities 405,090 197,464
Purchases of available-for-sale securities (593,700) (634,791)
Proceeds from maturities of held-to-maturity securities 29,179 46,515
Purchases of held-to-maturity securities 0 (1,172)
Purchases of bank owned life insurance 0 (4,000)
Proceeds from bank owned life insurance death benefits 1,310 616
Disposition of assets and liabilities held for sale 1,245 (58,295)
Purchase of Reliance Bancshares, Inc. (37,017) 0
Net cash provided by (used in) investing activities 152,066 (1,452,120)
FINANCING ACTIVITIES    
Net change in deposits (156,010) 995,631
Proceeds from issuance of subordinated notes 0 326,355
Repayments of subordinated debentures 0 (94,915)
Dividends paid on preferred stock (326) 0
Dividends paid on common stock (45,722) (41,766)
Net change in other borrowed funds (404,455) 40,893
Net change in federal funds purchased and securities sold under agreements to repurchase 6,598 (13,231)
Net shares issued under stock compensation plans (3,301) 1,756
Shares issued under employee stock purchase plan 1,312 1,026
Retirement of preferred stock (42,000) 0
Net cash (used in) provided by financing activities (643,904) 1,215,749
DECREASE IN CASH AND CASH EQUIVALENTS (303,488) (84,238)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 833,458 598,042
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 529,970 $ 513,804