XML 20 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 29,458 $ 46,215
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Provision for loan and lease losses 5,086 2,090
Provision (reversal) for unfunded loan commitments 1,629 (216)
Reversal for loan repurchases (728) (500)
Depreciation on premises and equipment 6,420 5,664
Amortization of intangible assets 2,146 2,644
Amortization of debt issuance cost 96 363
Net amortization (accretion) of premium and discount on securities (505) 709
Net amortization of deferred loan fees and costs (161) (379)
Accretion of discounts on purchased loans (4,222) (21,096)
Deferred income tax (benefit) expense (12,271) 1,456
Bank owned life insurance income (1,197) (1,143)
Share-based compensation expense 7,691 5,706
Loss on investments in alternative energy partnerships 18,443 0
Impairment on intangible assets 336 0
Debt redemption costs 0 2,737
Net revenue on mortgage banking activities (43,070) (77,479)
Net gain on sale of loans (5,002) (4,342)
Net gain on sale of securities available for sale (4,455) (29,613)
Loss from change of fair value on mortgage servicing rights 6,378 18,717
Loss on sale or disposal of property and equipment 1,035 5
Net gain on disposal of discontinued operations (13,538) 0
Gain on sale of subsidiary 0 (3,694)
Repurchase of mortgage loans (53,290) (18,648)
Originations of loans held for sale from mortgage banking (1,510,971) (2,301,125)
Originations of other loans held for sale (83,815) (383,841)
Proceeds from sales of and principal collected on loans held for sale from mortgage banking 1,848,535 2,348,055
Proceeds from sales of and principal collected on other loans held for sale 265,510 206,085
Change in accrued interest receivable and other assets 10,288 (35,485)
Change in accrued interest payable and other liabilities (86,711) 4,526
Net cash provided by (used in) operating activities 383,115 (232,589)
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 810,786 3,551,453
Proceeds from maturities and calls of securities available-for-sale 75,804 0
Proceeds from principal repayments of securities available-for-sale 22,958 47,167
Proceeds from maturities and calls of securities held-to-maturity 143,505 0
Purchases of securities available-for-sale (550,700) (3,949,717)
Net cash provided by disposal of discontinued operations 55,865 0
Proceeds from sale of subsidiary 0 259
Loan and lease originations and principal collections, net (467,539) (939,348)
Purchase of loans and leases 0 (156,258)
Redemption of Federal Home Loan Bank stock 5,300 5,690
Purchase of Federal Home Loan Bank and other bank stock (896) (27,774)
Proceeds from sale of loans 409,134 62,927
Proceeds from sale of other real estate owned 1,066 1,007
Proceeds from sale of mortgage servicing rights 0 5
Proceeds from sale of premises and equipment 512 0
Additions to premises and equipment (12,089) (15,458)
Payments of capital lease obligations (516) (473)
Funding of equity investment (10,332) 0
Investments in alternative energy partnerships (30,940) 0
Net cash provided by (used in) investing activities 451,918 (1,420,520)
Cash flows from financing activities:    
Net (decrease) increase in deposits (1,097,239) 1,625,871
Net increase in short-term Federal Home Loan Bank advances 330,000 50,000
Repayment of long-term Federal Home Loan Bank advances (50,000) (50,000)
Proceeds from long-term Federal Home Loan Bank advances 100,000 0
Net increase in securities sold under repurchase agreements 53,242 0
Net decrease in other borrowings (68,000) 0
Net proceeds from issuance of common stock 0 175,094
Net proceeds from issuance of preferred stock 0 120,255
Redemption of preferred stock 0 (42,000)
Payment of amortizing debt (2,684) (2,492)
Redemption of long term debt 0 (84,750)
Cash settlement of stock options 0 (359)
Restricted stock surrendered due to employee tax liability (5,377) (3,388)
Dividend equivalents paid on stock appreciation rights (404) (370)
Dividends paid on preferred stock (10,226) (9,405)
Dividends paid on common stock (12,665) (9,739)
Net cash (used in) provided by financing activities (763,353) 1,768,717
Net change in cash and cash equivalents 71,680 115,608
Cash and cash equivalents at beginning of period 439,510 156,124
Cash and cash equivalents at end of period 511,190 271,732
Supplemental cash flow information    
Interest paid on deposits and borrowed funds 38,673 26,457
Income taxes paid 8,864 36,404
Income taxes refunds received 14,070 1
Supplemental disclosure of non-cash activities    
Transfer from loans to other real estate owned, net 1,803 304
Transfer of loans held-for-investment to loans held-for-sale 547,099 61,410
Transfer of loans held-for-sale to loans held-for-investment 0 7,155
Reclassification of securities held-to-maturity to securities available-for-sale 740,863 0
Equipment acquired under capital leases 70 16
Non-cash consideration received from sale of subsidiary 0 2,896
Receivable on unsettled securities sales 0 10,049
Due on unsettled securities purchases $ 116,090 $ 89,500