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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 28,356 $ 93,960
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 6,799 4,309
Depreciation, amortization and accretion 10,219 468
Provision for credit losses 99,889 7,184
Gain on mortgage loans sold, net (8,583) (4,878)
Investment losses (gains) on sales, net (463) 1,960
Stock-based compensation expense 5,501 4,913
Deferred tax expense (benefit) (11,799) 8,702
Losses (gains) on dispositions of other real estate and other investments 2,309 (50)
Income from equity method investment (15,592) (13,290)
Dividends received from equity method investment 7,957 12,666
Excess tax benefit from stock compensation (862) (769)
Gain on commercial loans sold, net (597) (611)
Increase in other assets (113,848) (6,517)
Increase in other liabilities 32,834 59,720
Net cash provided by operating activities 56,610 155,291
Activities in securities available-for-sale:    
Purchases (407,122) (312,605)
Sales 30,204 126,579
Maturities, prepayments and calls 88,164 72,813
Activities in securities held-to-maturity:    
Maturities, prepayments and calls 1,743 15
Increase in loans, net (611,836) (462,940)
Purchases of software, premises and equipment (6,334) (2,110)
Proceeds from sales of software, premises and equipment 0 53
Proceeds from sale of other real estate 1,796 840
Purchase of bank owned life insurance policies 0 (60,000)
Proceeds related to derivative instruments 35,680 0
Increase in other investments (10,893) (12,582)
Net cash used in investing activities (878,598) (649,937)
Financing activities:    
Net increase (decrease) in deposits 1,152,246 (368,466)
Net increase (decrease) in securities sold under agreements to repurchase 60,194 (4,043)
Advances from Federal Home Loan Bank:    
Advances from Federal Home Loan Bank: Issuances 650,000 1,147,500
Advances from Federal Home Loan Bank: Payments/maturities (395,014) (470,014)
Increase in other borrowings, net of issuance costs (65) 0
Repayments of Notes Payable (80,000) (520)
Principal payments of finance lease obligation (59) (55)
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes (2,468) 0
Exercise of common stock options, net of repurchase of restricted shares (1,953) (3,357)
Repurchase of common stock (50,790) (30,049)
Common stock dividends paid (12,442) (12,545)
Net cash provided by financing activities 1,319,649 258,451
Net increase (decrease) in cash, cash equivalents, and restricted cash 497,661 (236,195)
Cash, cash equivalents, and restricted cash, beginning of period 526,707 721,692
Cash, cash equivalents, and restricted cash, end of period 1,024,368 485,497
Commercial loans held for sale:    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans originated (78,671) (80,117)
Loans sold 90,003 82,225
Consumer loans held for sale:    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans originated (366,423) (243,870)
Loans sold $ 369,581 $ 229,286