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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 47,958 $ 34,612 $ 98,129 $ 111,278  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     20,726 23,561  
Provision for Loan and Lease Losses     49,994 11,754  
Net amortization of premium on securities     9,925 15,959  
Securities gains, net (1,300) (2,013) (4,964) (7,168)  
Unrealized gain on equity securities, net     (604) (514)  
Stock based compensation     5,551 4,833  
Loans originated for sale     (461,723) (289,877)  
Proceeds on sales of loans held for sale     443,913 289,769  
Net gains on sale of loans held for sale     (21,411) (11,545)  
(Increase) decrease in accrued interest receivable     (7,955) 932  
(Increase) decrease in prepaid expenses     408 (3,611)  
Increase (decrease) in accrued interest payable     (1,461) 1,905  
Gain on extinguishment of debt     0 (375)  
Capitalization of servicing rights     (2,633) (756)  
Valuation allowance on servicing rights 120 626 1,676 1,579  
(Gain) loss on sales/valuations of assets, net     2,480 (10,378)  
Net excess tax (expense) benefit from stock based compensation     (93) 270  
Other, net     (48,914) (40,706)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     83,044 96,910  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     (8) (254)  
Proceeds from the sale of securities available for sale 306,383 290,877 818,022 1,485,773  
Proceeds from the sale of securities held to maturity     1,056 0  
Proceeds from the maturity of and principal paydowns on securities available for sale     400,565 265,500  
Proceeds from the maturity of and principal paydowns on securities held to maturity     3,235 2,938  
Proceeds from the maturity of time deposits in other financial institutions     593 1,215  
Proceeds from the sale, maturity of and principal paydowns on other investments     6,297 10,297  
Purchase of securities available for sale     (2,777,981) (1,984,228)  
Purchase of other investments     (10,916) (4,957)  
Net increase in loans     (746,723) (47,023)  
Purchase of bank owned life insurance policies     (208) (16)  
Proceeds from bank owned life insurance policies     606 421  
Proceeds from sale of mortgage servicing rights     0 33,823  
Capital expenditures     (13,178) (8,389)  
Net cash and cash equivalents received in acquisitions     0 38,650  
Proceeds from the sale of equipment     3,339 1,277  
Net cash expended in divestitures     0 (49,264)  
Proceeds on sale of OREO and other repossessed assets     2,559 6,907  
NET CASH USED BY INVESTING ACTIVITIES     (2,312,742) (247,330)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase in demand deposits     1,478,704 159,044  
Net increase in savings deposits     434,726 347,749  
Net decrease in time deposit accounts     (190,651) (397)  
Net increase (decrease) in short-term borrowings     205,277 (43,733)  
Proceeds from short term advances     541,545 430,888  
Repayments of short term advances     (622,742) (531,725)  
Proceeds from other borrowings     254,833 50  
Repayments of other borrowings     (7,399) (17,769)  
Payments for Repurchase of Warrants     0 (2,125)  
Net proceeds from the issuance of preferred stock     110,705 0  
Proceeds from issuance of common stock     2,150 576  
Dividends paid     (24,529) (18,001)  
NET CASH PROVIDED BY FINANCING ACTIVITIES     2,182,619 324,557  
Net increase (decrease) in cash and cash equivalents     (47,079) 174,137  
Cash and cash equivalents at beginning of year     378,734 273,630 $ 273,630
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 331,655 $ 447,767 331,655 447,767 $ 378,734
Supplemental disclosures:          
Cash paid for income/franchise taxes     26,701 30,523  
Cash paid for interest     38,088 58,297  
Loans transferred to OREO     1,706 7,421  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     0 2,568  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net     450 1,564  
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     4,792 22,879  
Transfer of available for sale securities to held to maturity securities     462 0  
Purchases of loans held to maturity accrued, not settled     9,600 0  
Stock consideration granted for acquisitions     $ 0 $ 92,258