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Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income $ 51,801 $ 53,833
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan and lease losses 14,539 4,257
Depreciation and amortization 15,167 10,235
Share-based compensation expense 7,289 6,595
Deferred taxes 8,701 6,238
Net amortization of investment securities premiums and discounts 691 1,205
Unrealized (gain) loss on investment securities (988) 1,532
(Gain) loss on sale of investment securities 1,001 (18,659)
Loss upon acquisition of interest-only GNMA securities 7,476 0
(Gain) loss on sale of SBA and other loans (602) (3,880)
Origination of loans held for sale (35,760) (22,978)
Proceeds from the sale of loans held for sale 36,115 23,936
Amortization of fair value discounts and premiums 561 164
Net (gain) loss on sales of other real estate owned 137 (35)
Valuation and other adjustments to other real estate owned 31 124
Earnings on investment in bank-owned life insurance (5,477) (5,769)
(Increase) decrease in accrued interest receivable and other assets (79,299) (21,525)
Increase (decrease) in accrued interest payable and other liabilities 15,302 25,774
Net Cash Provided By (Used In) Operating Activities 34,683 98,365
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities 22,627 38,926
Proceeds from sale of available-for-sale securities 97,555 476,182
Purchases of investment securities available for sale 0 (763,242)
Origination of mortgage warehouse loans (22,167,517) (21,739,744)
Proceeds from repayments of mortgage warehouse loans 21,049,044 22,016,825
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans (6,808) (20,476)
Proceeds from sales of loans 0 42,211
Purchase of loans (636,366) (347,740)
Proceeds from bank-owned life insurance 0 529
Net proceeds from FHLB, Federal Reserve Bank, and other restricted stock 7,832 31,712
Purchases of bank premises and equipment (5,397) (1,344)
Proceeds from sales of other real estate owned 735 421
Purchase of university relationship intangible asset 0 (1,502)
Purchases of leased assets under lessor operating leases (27,239) (21,849)
Net Cash Provided By (Used In) Investing Activities (1,665,534) (289,091)
Cash Flows from Financing Activities    
Net increase in deposits 1,783,449 1,713,572
Net increase (decrease) in short-term borrowed funds from the FHLB (557,270) (776,860)
Net increase (decrease) in federal funds purchased 186,000 (155,000)
Proceeds from long-term borrowed funds from the FHLB 350,000 0
Proceeds from issuance of other long-term borrowings 25,000 0
Repayments of other borrowings (25,000) (63,250)
Preferred stock dividends paid (10,844) (10,844)
Exercise of warrants 0 112
Purchase of treasury stock (571) 0
Payments of employee taxes withheld from share-based awards (1,366) (711)
Proceeds from issuance of common stock 1,536 3,418
Net Cash Provided By (Used In) Financing Activities 1,750,934 710,437
Net Increase (Decrease) in Cash and Cash Equivalents 120,083 519,711
Cash and Cash Equivalents – Beginning 62,135 146,323
Cash and Cash Equivalents – Ending 182,218 666,034
Supplementary Cash Flows Information:    
Interest paid 134,234 114,973
Income taxes paid 3,047 4,156
Non-cash items:    
Transfer of loans to other real estate owned 291 234
Transfer of loans held for investment to held for sale 499,774 0
Transfer of loans held for sale to held for investment 0 129,691
Acquisition of interest-only GNMA securities securing a mortgage warehouse loan 17,157 0
Acquisition of residential reverse mortgage loans securing a mortgage warehouse loan $ 1,325 $ 0