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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 30,131 $ 45,169 $ 50,171 $ 76,666  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     14,071 16,315  
Provision for Loan and Lease Losses 25,007 4,918 48,316 6,553  
Net amortization of premium on securities     6,251 10,927  
Securities gains, net (2,006) (3,580) (3,664) (5,155)  
Unrealized gain on equity securities, net     (449) (370)  
Stock based compensation     3,558 3,602  
Loans originated for sale     (271,167) (165,249)  
Proceeds on sales of loans held for sale     254,523 161,625  
Net gains on sale of loans held for sale     (10,990) (7,177)  
(Increase) decrease in accrued interest receivable     (4,298) 2,421  
(Increase) decrease in prepaid expenses     (910) 229  
Increase (decrease) in accrued interest payable     (1,699) 1,021  
Capitalization of servicing rights     (1,527) (415)  
Valuation allowance on servicing rights (9) 364 1,556 953  
(Gain) loss on sales/valuations of assets, net     717 (10,735)  
Net excess tax (expense) benefit from stock based compensation     (91) 272  
Other, net     (53,313) (29,184)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     31,055 62,299  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     (7) (248)  
Proceeds from the sale of securities available for sale 182,749 760,743 511,639 1,194,897  
Proceeds from the maturity of and principal paydowns on securities available for sale     212,538 178,930  
Proceeds from the maturity of and principal paydowns on securities held to maturity     1,832 2,406  
Proceeds from the maturity of time deposits in other financial institutions     150 490  
Proceeds from the sale, maturity of and principal paydowns on other investments     6,135 7,992  
Purchase of securities available for sale     (1,491,459) (1,148,238)  
Purchase of other investments     (10,273) (4,899)  
Net (increase) decrease in loans     (881,419) 77,147  
Purchase of bank owned life insurance policies     (201) (16)  
Proceeds from bank owned life insurance policies     0 421  
Proceeds from sale of mortgage servicing rights     0 33,823  
Capital expenditures     (7,679) (3,909)  
Net cash and cash equivalents received in acquisitions     0 38,650  
Proceeds from the sale of equipment     3,331 829  
Net cash expended in divestitures     0 (49,264)  
Proceeds on sale of OREO and other repossessed assets     1,783 3,825  
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES     (1,653,630) 332,836  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase in demand deposits     1,287,288 4,675  
Net increase in savings deposits     502,871 110,498  
Net increase (decrease) in time deposit accounts     (125,791) 29,924  
Net decrease in short-term borrowings     (12,799) (44,326)  
Proceeds from short term FHLB advances     516,545 430,888  
Repayments of short term FHLB advances     (597,741) (531,725)  
Proceeds from other borrowings     33,750 50  
Repayments of other borrowings     (3,622) (15,621)  
Net proceeds from the issuance of preferred stock     110,705 0  
Proceeds from issuance of common stock     928 408  
Dividends paid     (14,715) (11,397)  
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES     1,697,419 (26,626)  
Net increase in cash and cash equivalents     74,844 368,509  
Cash and cash equivalents at beginning of year     378,734 273,630 $ 273,630
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 453,578 $ 642,139 453,578 642,139 $ 378,734
Supplemental disclosures:          
Cash paid for income/franchise taxes     12,798 19,495  
Cash paid for interest     29,856 37,099  
Loans transferred to OREO     1,055 4,655  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     0 2,568  
Deposits transferred to held for sale     0 76,968  
Loans transferred to held for sale     0 32,111  
Securities transferred from held to maturity to available for sale     0 148,030  
Purchases of securities available for sale, accrued, not settled     0 37,373  
Transfer of available for sale securities to held to maturity securities     462 0  
Stock consideration granted for acquisitions     $ 0 $ 92,258