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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 34,612 $ 33,710 $ 111,278 $ 84,857  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     23,561 22,647  
Provision for loan losses 5,201 5,238 11,754 14,332  
Net amortization of premium on securities     15,959 18,958  
Securities gains, net (2,013) 145 (7,168) (1,037)  
Unrealized gain on equity securities, net     (514) (97)  
Stock based compensation     4,833 3,689  
Loans originated for sale     (289,877) (551,328)  
Proceeds on sales of loans held for sale     289,769 594,529  
Net gains on sale of loans held for sale     (11,545) (13,939)  
(Increase) decrease in accrued interest receivable     932 (5,422)  
(Increase) decrease in prepaid expenses     (3,611) 2,243  
Increase in accrued interest payable     1,905 1,121  
Gain on extinguishment of debt     (375) 0  
Capitalization of servicing rights     (756) (4,404)  
Valuation allowance on servicing rights 626 (230) 1,579 (12)  
(Gain)/loss on sales/valuations of assets, net     (10,378) 2,243  
Net excess tax benefit from stock based compensation     270 672  
Other, net     (40,706) (1,979)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     96,910 167,073  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     (254) (1,000)  
Proceeds from the sale of securities available for sale 290,877 59,137 1,485,773 694,872  
Proceeds from the redemption of time deposits in other financial institutions     0 8,767  
Proceeds from the maturity of and principal paydowns on securities available for sale     265,500 172,702  
Proceeds from the maturity of and principal paydowns on securities held to maturity     2,938 13,169  
Proceeds from the maturity of and principal paydowns on time deposits in other financial institutions     1,215 5,829  
Proceeds from the sale, maturity of and principal paydowns on other investments     10,297 2,038  
Purchase of securities available for sale     (1,984,228) (940,607)  
Purchase of other investments     (4,957) (2,411)  
Net increase in loans     (47,023) (13,737)  
Purchase of bank owned life insurance policies     (16) (2,000)  
Proceeds from bank owned life insurance policies     421 0  
Proceeds from sale of mortgage servicing rights     33,823 0  
Capital expenditures     (8,389) (11,793)  
Net cash and cash equivalents received in acquisitions     38,650 212,197  
Proceeds from the sale of equipment     1,277 998  
Net cash expended in divestiture     (49,264) 0  
Proceeds on sale of OREO and other repossessed assets     6,907 3,128  
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES     (247,330) 142,152  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase in demand deposits     159,044 156,497  
Net increase in savings deposits     347,749 130,704  
Net decrease in time deposit accounts     (397) (122,795)  
Proceeds on short-term revolving credit line     0 25,000  
Repayments on short-term revolving credit line     0 (25,000)  
Net decrease in short-term borrowings     (43,733) (183,552)  
Proceeds from short term FHLB advances     430,888 355,602  
Repayments of short term FHLB advances     (531,725) (365,602)  
Proceeds from other borrowings     50 30,131  
Repayments of other borrowings     (17,769) (56,221)  
Payment for the redemption of debt     (2,125) 0  
Purchase of treasury stock     0 (97)  
Proceeds from issuance of common stock     576 286  
Dividends paid     (18,001) (12,806)  
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES     324,557 (67,853)  
Net increase in cash and cash equivalents     174,137 241,372  
Cash and cash equivalents at beginning of year     273,630 196,003 $ 196,003
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 447,767 $ 437,375 447,767 437,375 $ 273,630
Supplemental disclosures:          
Cash paid for income/franchise taxes     30,523 14,754  
Cash paid for interest     58,297 34,725  
Loans transferred to OREO     7,421 5,016  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     2,568 3,415  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net,     1,564 0  
Deposits transferred to held for sale     76,968 50,312  
Loans transferred to held for sale     32,111 31,379  
Securities transferred from held to maturity to available for sale     148,030 0  
Purchases of securities available for sale, accrued, not settled     22,879 3,481  
Conversion of Series D preferred stock to common stock     0 938  
Stock consideration granted for acquisitions     $ 92,258 $ 238,075