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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 43,034 $ 20,095
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Provision for loan and lease losses 6,209 6,817
Provision for loan repurchases 2,023 2,055
Net revenue on mortgage banking activities (114,351) (70,400)
Net gain on sale of loans (22,047) (15,901)
Net amortization of securities 1,385 544
Depreciation on premises and equipment 6,600 4,850
Amortization of intangibles 4,490 2,773
Amortization of debt issuance cost 428 484
Stock option compensation expense 357 357
Stock award compensation expense 6,285 4,196
Stock appreciation right expense 188 1,364
Bank owned life insurance income (475) (167)
Impairment on intangible assets 258 0
Net gain on sale of securities available for sale (1,748) (522)
Gain on sale of building (9,919) 0
Gain on sale of branches (163) (456)
Gain on sale of mortgage servicing rights 0 (2,268)
Gain on sale of other real estate owned (23) 0
Deferred income tax expense 1,916 0
Loss on sale or disposal of property and equipment 58 787
Increase in valuation allowances on other real estate owned 38 0
Tax effect of dividends paid on unvested equity awards 0 401
Repurchase of mortgage loans (12,589) (4,188)
Originations of loans held for sale from mortgage banking (3,404,030) (2,028,108)
Originations of other loans held for sale (585,547) (1,040,301)
Proceeds from sales of and principal collected on loans held for sale from mortgage banking 3,421,045 2,035,343
Proceeds from sales of and principal collected on other loans held for sale 705,036 571,447
Change in deferred loan (costs) fees 468 (1,229)
Amortization of premiums and discounts on purchased loans (21,507) (28,000)
Change in accrued interest receivable (4,593) (721)
Change in other assets (6,043) (2,871)
Change in accrued interest payable and other liabilities 23,613 2,574
Net cash provided by (used in) operating activities 40,396 (541,045)
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 403,206 52,245
Proceeds from maturities and calls of securities available for sale 687 1,231
Proceeds from principal repayments of securities available for sale 88,327 28,792
Purchases of securities available for sale (837,520) (222,033)
Purchases of securities held to maturity (529,534) 0
Purchases of bank owned life insurance (80,000) 0
Net cash used in branch sales (46,731) 0
Net cash used in acquisitions 0 (1,000)
Loan originations and principal collections, net (360,253) (232,859)
Purchase of loans (227,175) (25,218)
Redemption of Federal Home Loan Bank stock 17,163 0
Purchase of Federal Home Loan Bank and other bank stocks (15,565) (12,832)
Proceeds from sale of loans held for investment 389,944 142,482
Net change in time deposits in financial institutions 0 (54)
Proceeds from sale of other real estate owned 908 48
Proceeds from sale of mortgage servicing rights 5,862 17,177
Proceeds from sale of premises and equipment 52,192 30
Additions to premises and equipment (7,950) (7,081)
Payments of capital lease obligations (682) (682)
Net cash used in investing activities (1,147,121) (259,754)
Cash flows from financing activities:    
Net increase in deposits 796,760 712,865
Net increase in short-term Federal Home Loan Bank advances 62,000 65,000
Repayment of long-term Federal Home Loan Bank advances (265,000) (10,000)
Proceeds from long-term Federal Home Loan Bank advances 400,000 0
Net proceeds from issuance of common stock 0 53,901
Net proceeds from issuance of preferred stock 110,873 0
Net proceeds from issuance of tangible equity units 0 64,959
Net proceeds from issuance of long term debt 172,304 0
Payment of amortizing debt (3,503) (1,032)
Purchase of treasury stock 0 (280)
Proceeds from exercise of stock options 465 993
Dividend equivalents paid on stock appreciation rights (516) 0
Dividends paid on preferred stock (6,416) (2,742)
Dividends paid on common stock (12,478) (7,998)
Net cash provided by financing activities 1,254,489 875,666
Net change in cash and cash equivalents 147,764 74,867
Cash and cash equivalents at beginning of period 231,199 110,118
Cash and cash equivalents at end of period 378,963 184,985
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 35,079 23,953
Income taxes paid 24,460 4,311
Income taxes refunds received 18 264
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 nine months ended September 30, 2015 and 2014, respectively 48,757 65,584
Transfer of loans held for sale to loans receivable 482,851 117,116
Equipment acquired under capital leases $ 34 $ 989