XML 111 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities      
Net income $ 194,451 $ 172,882 $ 112,828
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan and lease losses 3,493 14,769 8,631
Stock-based compensation expense 9,271 8,354 7,745
Depreciation, amortization and accretion 34,213 32,971 31,101
Investment securities loss (gain), net (2,132) 89 11
Net realized loss (gain) on sale of premises and equipment and loans held for investment (7,317) 316 (139)
Net loss (gain) on sale and valuation adjustments of OREO 602 (1,218) (495)
Gain on sale of merchant card services portfolio 0 0 (14,000)
Gain on bank owned life insurance death benefit (3,051) 0 (4,193)
Termination of FDIC loss share agreements charge 0 0 2,409
Originations of loans held for sale (210,484) (133,945) (133,460)
Proceeds from sale of loans held-for-sale 196,615 135,862 133,540
Deferred income tax expense 330 108 22,431
Net change in:      
Interest receivable (1,516) (4,442) (2,980)
Interest payable 632 164 131
Other assets (23,464) 2,176 (25,471)
Other liabilities 14,308 6,679 (10,554)
Net cash provided by operating activities 204,747 237,201 128,525
Cash Flows From Investing Activities      
Loans originated, net of principal collected (291,857) 2,069 (273,927)
Purchases of securities available for sale (1,196,895) (965,585) (355,607)
Purchases of loans held-for-investment (57,075) (46,969) 0
Purchases of premises and equipment (8,447) (11,328) (6,495)
Purchases of Federal Home Loan Bank stock (273,800) (197,440) (92,040)
Proceeds from FDIC for reimbursement on loss-sharing asset 0 0 26
Proceeds from sales of debt securities available for sale 259,554 32,330 30,403
Proceeds from sale of equity securities 0 4,808 0
Proceeds from principal repayments and maturities of securities available for sale 428,025 465,747 283,874
Proceeds from sales of premises and equipment and loans held for investment 8,634 16,030 12,422
Proceeds from sale of merchant card services portfolio 0 0 14,000
Proceeds from redemption of Federal Home Loan Bank Stock 251,640 181,920 98,924
Proceeds from sales of other real estate and other personal property owned 6,506 7,261 2,590
Proceeds from bank owned life insurance death benefit 8,265 5,074 10,745
Payment to FDIC to terminate loss-sharing agreements 0 0 (4,666)
Payments to FDIC related to loss-sharing asset 0 0 (210)
Net cash received in business combinations 0 0 80,472
Net cash used in investing activities (865,450) (506,083) (199,489)
Cash Flows From Financing Activities      
Net increase (decrease) in deposits 226,958 (73,591) 353,797
Net increase (decrease) in sweep repurchase agreements 3,343 7,035 (3,380)
Proceeds from exercise of stock options 2,025 1,857 1,980
Proceeds from Federal Home Loan Bank advances 6,845,000 4,936,000 2,301,000
Proceeds from Federal Reserve Bank borrowings 36,000 5,010 10
Proceeds from other borrowings 100 0 0
Payments for Federal Home Loan Bank advances (6,291,000) (4,548,000) (2,397,000)
Payments for Federal Reserve Bank borrowings (36,000) (5,010) (10)
Payments for other debt (100) 0 0
Payments for common stock dividends (101,911) (83,440) (51,308)
Repayment of junior subordinated debentures 0 8,248 6,186
Repayment of term repurchase agreement 0 (25,000) 0
Payments for cash settlement of acquired equity awards 0 0 (7,345)
Payments for purchase of treasury stock (50,834) 0 0
Payments for purchase and retirement of common stock 2,792 2,677 2,299
Net cash provided by financing activities 630,789 203,936 189,259
Increase (decrease) in cash and cash equivalents (29,914) (64,946) 118,295
Cash and cash equivalents at beginning of period 277,587 342,533 224,238
Supplemental Information:      
Cash paid for interest 35,916 18,066 6,626
Cash paid for income tax, net of refunds 47,375 24,067 59,071
Non-cash investing and financing activities:      
Loans transferred to OREO 386 1,200 106
Share-based consideration issued in business combinations 0 0 636,385
Premises and equipment expenditures incurred but not yet paid 451 195 0
Change in dividends payable on unvested shares included in other liabilities $ 354 $ 19 $ 0