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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 51,906 $ 53,420
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for probable loan losses 7,420 1,662
Specific reserve, other real estate owned 8 71
Depreciation of bank premises and equipment 6,981 6,273
Gain on sale of bank premises and equipment (43) (8)
Gain on sale of other real estate owned (469) (2)
Accretion of investment securities discounts (55) (75)
Amortization of investment securities premiums 4,024 5,700
Investment securities transactions, net 4  
Unrealized loss on equity securities with readily determinable fair values (138) 774
Stock based compensation expense 265 185
Earnings from affiliates and other investments (3,444) (4,303)
Deferred tax (benefit) expense (1,435) 269
(Increase) decrease in accrued interest receivable (603) 1,683
Increase in other assets (20,685) (42,473)
Increase in other liabilities 23,962 30,001
Net cash provided by operating activities 67,698 53,177
Investing activities:    
Proceeds from maturities of securities   1,075
Proceeds from sales and calls of available for sale securities 41,420 18,145
Purchases of available for sale securities (145,966) (1,075)
Principal collected on mortgage backed securities 132,820 188,893
Net increase in loans (147,124) (107,206)
Purchases of other investments (13,045) (17,963)
Distributions from other investments 46,677 5,367
Purchases of bank premises and equipment (6,130) (3,519)
Proceeds from sales of bank premises and equipment 707 376
Proceeds from sales of other real estate owned 1,510 12
Net cash (used in) provided by investing activities (89,131) 84,105
Financing activities:    
Net increase in non-interest bearing demand deposits 103,879 196,102
Net increase in savings and interest bearing demand deposits 78,512 148,635
Net increase (decrease) in time deposits 16,994 (34,717)
Net increase (decrease) in securities sold under repurchase agreements 48,641 (94,852)
Net (decrease) increase in other borrowed funds (194,770) (363,625)
Purchase of treasury stock (54)  
Proceeds from stock transactions 598 440
Net cash provided by (used in) financing activities 53,800 (148,017)
Increase (decrease) in cash and cash equivalents 32,367 (10,735)
Cash and cash equivalents at beginning of period 316,797 265,357
Cash and cash equivalents at end of period 349,164 254,622
Supplemental cash flow information:    
Interest paid 13,982 12,052
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned 704 80
Dividends declared, not yet paid on common stock 32,822 $ 21,814
Establishment of lease liability and right-of-use asset $ 6,171