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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 381,668 $ 357,651
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (recoveries of) loan losses 664 (8,687)
Depreciation and amortization 24,603 23,339
Amortization of discounts and premiums, net (25,114) (5,157)
Amortization of core deposit intangibles 1,994 4,209
Net gain on sales of securities (413) (943)
Net gain on sales of loans (49,809) (55,315)
Stock-based compensation 24,611 22,594
Deferred tax expense (benefit) 37,569 (14,068)
Changes in assets and liabilities:    
Decrease in other assets 353,403 70,915
(Decrease) increase in other liabilities (11,608) 11,072
Origination of loans held for sale (3,579,435) (3,847,702)
Proceeds from sales of loans originated for sale 3,237,704 3,715,652
Net cash provided by operating activities 395,837 273,560
Cash Flows from Investing Activities:    
Proceeds from repayment of securities held to maturity 2,356,766 331,663
Proceeds from repayment of securities available for sale 50,010 8,930
Proceeds from sales of securities held to maturity   19,730
Proceeds from sales of securities available for sale 264,413 256,900
Purchase of securities held to maturity (10,086) (20,021)
Purchase of securities available for sale (271,836) (256,500)
Redemption of Federal Home Loan Bank stock 463,623 432,909
Purchase of Federal Home Loan Bank stock (386,007) (456,055)
Proceeds from sales of loans 1,354,796 1,562,908
Other changes in loans, net (2,623,161) (2,211,774)
Purchase of premises and equipment (69,665) (31,860)
Net cash provided by (used in) investing activities 1,128,853 (363,170)
Cash Flows from Financing Activities:    
Net increase (decrease) in deposits 712,841 (48,563)
Net decrease in short-term borrowed funds (1,927,800) (202,300)
Proceeds from long-term borrowed funds 181,000 1,723,500
Repayments of long-term borrowed funds   (1,023,902)
Tax effect of stock plans [1]   2,355
Cash dividends paid on common stock (248,081) (332,837)
Payments relating to treasury shares received for restricted stock award tax payments [1] (8,542) (6,999)
Net cash (used in) provided by financing activities (1,290,582) 111,254
Net increase in cash and cash equivalents 234,108 21,644
Cash and cash equivalents at beginning of period 537,674 564,150
Cash and cash equivalents at end of period 771,782 585,794
Supplemental information:    
Cash paid for interest 283,418 413,029
Cash paid for income taxes 135,192 187,663
Non-cash investing and financing activities:    
Transfers to other real estate owned from loans 18,691 40,680
Transfer of loans from held for investment to held for sale 1,339,679 1,541,192
Transfer of loans from held for sale to held for investment   153,578
Shares issued for restricted stock awards $ 8,985 $ 7,709
[1] See Note 14, "Impact of Recent Accounting Pronouncements" for a discussion of the Company's adoption of ASU No. 2016-09.