XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 51,670,000 $ 41,246,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion expense, net 15,273,000 12,087,000
Stock based compensation expense 1,012,000 2,745,000
Loss (gain) on sale of investment securities 0 (968,000)
Decrease (increase) in accrued interest receivable (503,000) (449,000)
Decrease (increase) in federal and state income tax receivable 0 16,047,000
Decrease (increase) in cash surrender value of bank owned life insurance (1,571,000) (1,739,000)
Gain on bank owned life insurance (2,416,000) (649,000)
Net realized (gain) loss on sales of premises, equipment, and real estate owned (241,000) 657,000
Decrease (increase) in other assets (7,715,000) 14,153,000
Increase (decrease) in accrued expenses and other liabilities 2,595,000 (41,265,000)
Net cash provided by (used in) operating activities 58,104,000 41,865,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Origination of loans and principal repayments, net (80,089,000) (226,080,000)
Loans purchased (143,605,000) 0
FHLB & FRB stock purchased (123,600,000) (9,000)
FHLB & FRB stock redeemed 116,000,000 24,000
Available-for-sale securities purchased (40,884,000) 0
Principal payments and maturities of available-for-sale securities 58,261,000 112,469,000
Proceeds from sales of available-for-sale securities 0 350,890,000
Held-to-maturity securities purchased (170,836,000) (415,729,000)
Principal payments and maturities of held-to-maturity securities 50,653,000 78,778,000
Proceeds from sales of real estate owned 3,440,000 6,457,000
Proceeds from settlement of bank owned life insurance 3,484,000 1,231,000
Proceeds from sales of premises and equipment 1,000 1,722,000
Premises and equipment purchased and REO improvements (6,485,000) (2,200,000)
Net cash provided by (used in) investing activities (333,660,000) (92,447,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in customer accounts 166,647,000 46,799,000
Proceeds from borrowings 3,090,000,000 0
Repayments of borrowings (2,900,000,000) 0
Proceeds from exercise of common stock options and related tax benefit 286,000 4,362,000
Dividends paid on common stock (13,043,000) (12,422,000)
Treasury stock purchased (38,984,000) (20,385,000)
Increase (decrease) in borrower advances related to taxes and insurance, net (32,707,000) (19,302,000)
Net cash provided by (used in) financing activities 272,199,000 (948,000)
Increase (decrease) in cash and cash equivalents (3,357,000) (51,530,000)
Cash and cash equivalents at beginning of period 313,070,000 450,368,000
Cash and cash equivalents at end of period 309,713,000 398,838,000
Non-cash investing activities    
Real estate acquired through foreclosure 773,000 1,589,000
Non-cash financing activities    
Stock issued upon exercise of warrants 3,761,000 1,523,000
Cash paid during the period for    
Interest 29,986,000 28,737,000
Income taxes $ 5,225,000 $ 0