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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 393,795 $ 201,445
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 41,415 26,771
Depreciation, amortization and accretion 39,630 32,127
Provision for credit losses 13,451 194,635
Gain on mortgage loans sold, net (28,180) (47,655)
Investment gains on sales, net (366) (986)
Gain on other equity investments, net 19,000 8
Stock-based compensation expense 17,834 14,092
Deferred tax expense (benefit) 2,317 (31,288)
Losses (gains) on dispositions of other real estate and other investments (986) 6,600
Income from equity method investment (91,430) (59,245)
Dividends received from equity method investment 66,221 47,981
Excess tax benefit from stock compensation (2,201) (505)
Gain on commercial loans sold, net (3,136) (1,856)
Decrease (increase) in other assets 22,093 (188,675)
Increase (decrease) in other liabilities (58,720) 54,407
Net cash provided by operating activities 438,680 301,717
Activities in securities available-for-sale:    
Purchases 1,607,533 1,189,922
Sales 2,240 145,631
Maturities, prepayments and calls 456,547 356,690
Activities in securities held-to-maturity:    
Purchases 8,710 0
Maturities, prepayments and calls 33,864 13,345
Increase in securities purchased under agreements to resell (500,000) 0
Increase in loans, net (662,490) (2,705,594)
Purchases of software, premises and equipment (16,616) (30,309)
Proceeds from sales of software, premises and equipment 281 0
Proceeds from sale of other real estate 5,728 7,191
Proceeds from bank owned life insurance settlements 954 4,580
Proceeds from derivative instruments 99,710 35,680
Proceeds from sale of FHLB stock 12,602 0
Purchase of trade name 0 (1,000)
Increase in other investments (44,568) (50,327)
Net cash used in investing activities (2,227,991) (3,414,035)
Financing activities:    
Net increase in deposits 1,664,344 6,363,187
Net increase in securities sold under agreements to repurchase 20,076 705
Federal Home Loan Bank: Advances 0 762,472
Federal Home Loan Bank: Repayments/maturities (200,000) (1,537,520)
Advances of other borrowings, net of issuance costs 0 56,568
Repayments of other borrowings (130,000) (136,661)
Principal payments of finance lease obligation (194) (180)
Issuance of preferred stock, net of issuance costs 0 217,126
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes (3,790) (2,488)
Exercise of common stock options, net of shares surrendered for taxes (3,042) (2,580)
Repurchase of common stock 0 (50,790)
Common stock dividends paid (41,633) (37,105)
Preferred stock dividends paid (11,394) (3,798)
Net cash provided by financing activities 1,294,367 5,628,936
Net increase (decrease) in cash, cash equivalents, and restricted cash (494,944) 2,516,618
Cash, cash equivalents, and restricted cash, beginning of period 3,961,449 526,707
Cash, cash equivalents, and restricted cash, end of period 3,466,505 3,043,325
Commercial Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (433,555) (271,996)
Loans held-for-sale sold 418,770 279,147
Consumer Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (1,579,745) (1,550,290)
Loans held-for-sale sold $ 1,640,473 $ 1,597,016