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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities      
Net income $ 71,695 $ 78,837 $ 78,702
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses, net of change to FDIC receivable and clawback liability 5,642 6,768 3,041
Depreciation and amortization 14,157 10,801 5,897
Share-based compensation expense 9,740 7,167 7,069
Deferred taxes 9,303 14,820 (2,579)
Net amortization of investment securities premiums and discounts 1,403 702 891
Unrealized loss recognized on equity securities 1,634 0 0
Loss (gain) on sale of investment securities 18,659 (8,800) (25)
Impairment loss on investment securities 0 12,934 7,262
Gain on sale of SBA and other loans (3,913) (4,898) (3,685)
Origination of loans held for sale (31,699) (41,172) (39,750)
Proceeds from the sale of loans held for sale 32,676 40,656 42,772
Decrease in FDIC loss sharing receivable net of clawback liability 0 0 255
Amortization of fair value discounts and premiums 194 88 405
Net loss on sales of other real estate owned 183 154 130
Valuation and other adjustments to other real estate owned 153 298 1,473
Earnings on investment in bank-owned life insurance (7,620) (7,219) (4,736)
Increase in accrued interest receivable and other assets (34,614) (32,256) (11,538)
Increase (decrease) in accrued interest payable and other liabilities 9,881 (16,687) 5,819
Net Cash Provided by Operating Activities 97,474 62,193 91,403
Cash Flows from Investing Activities      
Purchases of investment securities available for sale (763,242) (796,594) (5,000)
Proceeds from maturities, calls and principal repayments on investment securities available for sale 44,313 48,124 64,701
Proceeds from sales of investment securities available for sale 476,182 769,203 2,852
Origination of mortgage warehouse loans (27,209,330) (30,084,255) (36,091,174)
Proceeds from repayments of mortgage warehouse loans 27,597,318 30,407,662 35,729,309
Net decrease (increase) in loans 59,534 (960,372) (794,954)
Purchase of loans (397,888) (262,641) 0
Proceeds from sale of loans 110,526 462,518 133,104
Purchases of bank-owned life insurance 0 (90,000) 0
Proceeds from bank-owned life insurance 529 1,418 619
Net proceeds from (purchases of) FHLB, Federal Reserve Bank, and other restricted stock 16,233 (37,510) 22,433
Payments to the FDIC on loss sharing agreements 0 0 (2,049)
Purchases of leased assets under operating leases (37,207) (22,223) 0
Purchases of bank premises and equipment (1,777) (2,135) (5,426)
Proceeds from sales of other real estate owned 2,213 1,680 1,051
Acquisition and purchase of intangible assets (1,502) 0 (17,000)
Net Cash Used in Investing Activities (104,098) (565,125) (961,534)
Cash Flows from Financing Activities      
Net increase (decrease) in deposits 342,094 (503,633) 1,394,276
Net (decrease) increase in short-term borrowed funds from the FHLB (363,790) 743,060 (831,500)
Net increase in federal funds purchased 32,000 72,000 13,000
Proceeds from long-term FHLB borrowings 0 0 75,000
Repayments of long-term debt (63,250) 0 0
Proceeds from issuance of long-term debt 0 98,564 0
Net proceeds from issuance of preferred stock 0 0 161,902
Preferred stock dividends paid (14,459) (14,459) (9,051)
Exercise and redemption of warrants 112 1,059 1,532
Purchase of treasury stock (12,976) 0 0
Payment of employee taxes withheld from share-based awards (880) (14,761) (5,897)
Net proceeds from issuance of common stock 3,585 2,716 70,985
Net Cash (Used in) Provided by Financing Activities (77,564) 384,546 870,247
Net (Decrease) Increase in Cash and Cash Equivalents (84,188) (118,386) 116
Cash and Cash Equivalents – Beginning 146,323 264,709 264,593
Cash and Cash Equivalents – Ending 62,135 146,323 264,709
Supplementary Cash Flow Information      
Interest paid 160,384 101,575 71,216
Income taxes paid 4,794 40,282 57,251
Non-cash Items:      
Transfer of loans to other real estate owned 1,639 750 703
Transfer of loans from held for investment to held for sale 0 150,638 0
Transfer of loans from held for sale to held for investment $ 129,691 $ 0 $ 25,118