XML 21 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 51,147 $ 39,968
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,273 14,566
Provision for loan losses 9,094 4,530
Net amortization of premium on securities 12,587 13,997
Securities gains, net (1,182) (3,874)
Unrealized gain on equity securities, net (43) 0
Stock based compensation 2,770 2,763
Loans originated for sale (317,979) (369,579)
Proceeds on sales of loans held for sale 346,083 390,683
Net gains on sale of loans held for sale (8,178) (8,691)
(Increase) decrease in accrued interest receivable (35) 1,876
Decrease in prepaid expenses 2,263 936
Decrease in accrued interest payable (25) (130)
Capitalization of servicing rights (2,694) (4,406)
Valuation allowance on servicing rights 218 (24)
Loss on sales/valuations of assets, net 1,331 300
Net excess tax benefit from stock based compensation 660 989
Other, net (16,605) (11,989)
NET CASH PROVIDED BY OPERATING ACTIVITIES 93,685 71,915
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of time deposits in other financial institutions (1,000) 0
Proceeds from the sale of securities available for sale 635,735 624,008
Proceeds from the redemption of time deposits in other financial institutions 8,767 5,867
Proceeds from the maturity of and principal paydowns on securities available for sale 112,166 102,506
Proceeds from the maturity of and principal paydowns on securities held to maturity 8,897 3,655
Proceeds from the maturity of and principal paydowns on time deposits in other financial institutions 4,862 14,483
Proceeds from the maturity of and principal paydowns on other investments 1,400 2,017
Purchase of securities available for sale (733,030) (666,588)
Purchase of other investments (1,842) (1,001)
Net (increase) decrease in loans (86,466) 113,369
Purchase of bank owned life insurance policies 0 (2,000)
Capital expenditures (9,788) (5,683)
Net cash and cash equivalents received in acquisitions 212,197 33,698
Proceeds from the sale of equipment 622 1,692
Proceeds on sale of OREO and other repossessed assets 2,091 4,352
NET CASH PROVIDED BY INVESTING ACTIVITIES 154,611 230,375
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits 117,456 58,953
Net increase (decrease) in savings deposits 5,408 (146,800)
Net decrease in time deposit accounts (31,789) (10,891)
Proceeds on short-term revolving credit line 25,000 0
Net decrease in short-term borrowings (155,403) (161,963)
Proceeds from short term FHLB advances 302,102 86,139
Repayments of short term FHLB advances (266,500) (91,505)
Repayments of other borrowings (44,654) (7,503)
Purchase of treasury stock (97) (217)
Proceeds from issuance of common stock 156 398
Dividends paid (7,972) (5,849)
NET CASH USED BY FINANCING ACTIVITIES (56,293) (279,238)
Net increase in cash and cash equivalents 192,003 23,052
Cash and cash equivalents at beginning of year 196,003 158,724
CASH AND CASH EQUIVALENTS AT END OF PERIOD 388,006 181,776
Supplemental disclosures:    
Cash paid for income/franchise taxes 8,254 5,860
Cash paid for interest 21,655 15,134
Loans transferred to OREO 2,264 4,302
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale 2,501 0
Purchases of securities available for sale, accrued, not settled 0 0
Sales of securities available for sale, accrued, not settled 0 0
Conversion of convertible debt to common stock 0 167
Conversion of Series D preferred stock to common stock 0 419
Stock consideration granted for acquisitions $ 238,075 $ 22,589