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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 55,924 $ 47,958 $ 170,343 $ 98,129  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     20,342 20,726  
Provision (benefit) for credit losses     (12,262) 49,994  
Net amortization of premium on securities     30,975 9,925  
Securities gains, net (1,535) (1,300) (4,347) (4,964)  
Unrealized gain on equity securities, net     (85) (604)  
Stock based compensation     6,732 5,551  
Loans originated for sale     (364,808) (461,723)  
Proceeds on sales of loans held for sale     401,078 443,913  
Net gains on sale of loans held for sale     (15,399) (21,411)  
(Increase) decrease in accrued interest receivable     353 (7,955)  
Decrease in prepaid expenses     318 408  
Decrease in accrued interest payable     (271) (1,461)  
Capitalization of servicing rights     (1,055) (2,633)  
Valuation adjustment on servicing rights (195) 120 (586) 1,676  
Loss on sales/valuations of assets, net     1,970 2,480  
Net excess tax benefit (expense) from stock based compensation     304 (93)  
Other, net     (751) (48,914)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     232,851 83,044  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     (9) (8)  
Proceeds from the sale of securities available for sale 169,108 306,383 799,588 818,022  
Proceeds from the sale of securities held to maturity     0 1,056  
Proceeds from the maturity of and principal paydowns on securities available for sale     722,512 400,565  
Proceeds from the maturity of and principal paydowns on securities held to maturity     4,634 3,235  
Proceeds from the maturity of time deposits in other financial institutions     0 593  
Proceeds from the sale, maturity of and principal paydowns on other investments     2,843 6,297  
Purchase of securities available for sale     (2,941,662) (2,777,981)  
Purchase of other investments     (10,922) (10,916)  
Net (increase) decrease in loans     150,876    
Net (increase) decrease in loans       (746,723)  
Purchase of bank owned life insurance policies     (196) (208)  
Proceeds from bank owned life insurance policies     0 606  
Capital expenditures     (15,705) (13,178)  
Proceeds from the sale of equipment     7,332 3,339  
Net cash expended in divestitures     (15,682) 0  
Proceeds on sale of OREO and other repossessed assets     5,032 2,559  
NET CASH USED BY INVESTING ACTIVITIES     (1,291,359) (2,312,742)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase in demand deposits     855,996 1,478,704  
Net increase in savings deposits     411,864 434,726  
Net decrease in time deposit accounts     (198,024) (190,651)  
Net increase in short-term borrowings     97,748 205,277  
Proceeds from short term advances     51,700 541,545  
Repayments of short term advances     (51,700) (622,742)  
Proceeds from other borrowings     147,614 254,833  
Repayments of other borrowings     (233,765) (7,399)  
Net proceeds from the issuance of preferred stock     0 110,705  
Proceeds from issuance of common stock     1,716 2,150  
Dividends paid     (35,139) (24,529)  
NET CASH PROVIDED BY FINANCING ACTIVITIES     1,048,010 2,182,619  
Net decrease in cash and cash equivalents     (10,498) (47,079)  
Cash and cash equivalents at beginning of year     337,903 378,734 $ 378,734
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 327,405 $ 331,655 327,405 331,655 $ 337,903
Supplemental disclosures:          
Cash paid for income/franchise taxes     42,425 26,701  
Cash paid for interest     21,632 38,088  
Loans transferred to OREO     2,713 1,706  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     1,564 0  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net     396 450  
Dividends declared, not paid     2,013 0  
Purchases of securities available for sale, accrued, not settled     0 4,792  
Transfer of available for sale securities to held to maturity securities     0 462  
Purchases of loans held to maturity accrued, not settled     $ 0 $ 9,600