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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 28,498 $ 8,848
Adjustments to reconcile net income to net cash used in operating activities    
Provision for loan and lease losses 5,474 4,037
Provision for loan repurchases 1,844 901
Net revenue on mortgage banking activities (77,336) (43,457)
Net gain on sale of loans (12,310) (5,641)
Net amortization (accretion) of securities 618 345
Depreciation on premises and equipment 4,374 3,250
Amortization of intangibles 3,089 1,883
Amortization of debt issuance cost 546 239
Stock option compensation expense 247 156
Stock award compensation expense 4,038 2,663
Stock appreciation right expense 72 514
Bank owned life insurance income (106) (103)
Impairment on intangible assets 258 0
Net loss (gain) on sale of securities available for sale 2 (522)
Gain on sale of building (9,919) 0
Gain on sale of other real estate owned (23) 0
Deferred income tax expense 4,293 0
Loss on sale or disposal of property and equipment 0 297
Increase in valuation allowances on other real estate owned 22 0
Repurchase of mortgage loans (6,908) 0
Originations of loans held for sale from mortgage banking (2,276,490) (1,226,599)
Originations of other loans held for sale (381,767) (751,061)
Proceeds from sales of and principal collected on loans held for sale from mortgage banking 2,195,821 1,215,423
Proceeds from sales of and principal collected on other loans held for sale 452,535 339,144
Change in deferred loan (costs) fees (808) 617
Amortization of premiums and discounts on purchased loans (13,967) (19,311)
Change in accrued interest receivable 238 (304)
Change in other assets 1,619 9,282
Change in accrued interest payable and other liabilities 10,868 (984)
Net cash used in operating activities (65,178) (460,383)
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 174 52,245
Proceeds from maturities and calls of securities available for sale 687 1,105
Proceeds from principal repayments of securities available for sale 54,096 16,843
Purchases of securities available for sale (197,258) (131,407)
Purchases of securities held to maturity (53,419) 0
Net cash used in acquisitions 0 (1,000)
Loan originations and principal collections, net (173,082) (116,192)
Purchase of loans (131,532) (11,956)
Redemption of Federal Home Loan Bank stock 16,913 0
Purchase of Federal Home Loan Bank and other bank stocks (8,859) (11,792)
Proceeds from sale of loans held for investment 313,746 73,398
Net change in time deposits in financial institutions 0 (299)
Proceeds from sale of other real estate owned 908 48
Proceeds from sale of mortgage servicing rights 3,089 0
Proceeds from sale of premises and equipment 52,250 0
Additions to premises and equipment (3,815) (5,355)
Payments of capital lease obligations (469) (504)
Net cash (used in) provided by investing activities (126,571) (134,866)
Cash flows from financing activities:    
Net increase in deposits 433,179 428,711
Net increase (decrease) in short-term Federal Home Loan Bank advances (318,000) 210,000
Repayment of long-term Federal Home Loan Bank advances (115,000) (10,000)
Proceeds from long-term Federal Home Loan Bank advances 150,000 0
Net proceeds from issuance of common stock 0 54,474
Net proceeds from issuance of preferred stock 110,873 0
Net proceeds from issuance of tangible equity units 0 65,642
Net proceeds from issuance of long term debt 172,304 0
Payment of amortizing debt (2,314) 0
Purchase of treasury stock 0 (134)
Proceeds from exercise of stock options 465 757
Dividend equivalents paid on stock appreciation rights (343) 0
Dividends paid on preferred stock (3,385) (1,832)
Dividends paid on common stock (8,239) (4,436)
Net cash provided by financing activities 419,540 743,182
Net change in cash and cash equivalents 227,791 147,933
Cash and cash equivalents at beginning of period 231,199 110,118
Cash and cash equivalents at end of period 458,990 258,051
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 21,686 15,563
Income taxes paid 19,502 0
Income taxes refunds received 158 0
Supplemental disclosure of noncash activities    
Transfer from loans to other real estate owned, net 534 653
Transfer of loans receivable to loans held for sale, net of transfer of $0 and $963 from allowance for loan and lease losses for the six months ended June 30, 2015 and 2014, respectively 43,667 62,057
Transfer of loans held for sale to loans receivable 476,901 94,837
Transfer of deposits to deposits held for sale 0 0
Equipment acquired under capital leases $ 34 $ 989