XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net income from continuing operations $ 252,014 $ 84,477
Adjustments to reconcile net income to net cash provided by continuing operating activities:    
Provision for credit losses on loans and leases 13,536 65,688
Depreciation and amortization 16,221 13,491
Share-based compensation expense 11,194 9,474
Deferred taxes 7,051 (26,188)
Net amortization (accretion) of investment securities premiums and discounts 1,171 (449)
Unrealized (gain) loss on investment securities (2,720) (60)
(Gain) loss on sale of investment securities (31,441) (20,035)
Loss on sale of foreign subsidiaries 2,840 0
Unrealized gain (loss) on derivatives (2,622) 4,755
Loss on cash flow hedge derivative terminations 24,467 0
Settlement of terminated cash flow hedge derivatives (27,156) 0
(Gain) loss on sale of leased assets under lessor operating leases 763 0
Fair value adjustment on loans held for sale (1,115) 0
(Gain) loss on sale of loans (10,067) 194
Origination of loans held for sale (55,093) (50,941)
Proceeds from the sale of loans held for sale 49,674 47,009
Amortization (accretion) of loan net deferred fees, discounts and premiums (149,647) (2,106)
Earnings on investment in bank-owned life insurance (6,432) (5,265)
(Increase) decrease in accrued interest receivable and other assets 45,591 (123,609)
Increase (decrease) in accrued interest payable and other liabilities 136,295 77,355
Net Cash Provided By Continuing Operating Activities 274,524 73,790
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities 258,418 156,759
Proceeds from sales of foreign subsidiaries 3,765 0
Proceeds from sales of investment securities available for sale 666,023 377,767
Purchases of investment securities available for sale (1,423,959) (1,024,345)
Origination of mortgage warehouse loans (44,292,416) (41,764,787)
Proceeds from repayments of mortgage warehouse loans 45,356,500 40,106,032
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans 521,323 (4,733,097)
Proceeds from sales of loans and leases 260,851 23,390
Purchase of loans (1,389,512) (226,498)
Purchases of bank-owned life insurance (46,462) 0
Proceeds from bank-owned life insurance 1,999 0
Net proceeds from sale of (purchases of) FHLB, Federal Reserve Bank, and other restricted stock 14,184 13,827
Purchases of bank premises and equipment (418) (4,182)
Proceeds from sales of other real estate owned 45 77
Proceeds from sales of leased assets under lessor operating leases 5,475 0
Purchases of leased assets under lessor operating leases (16,691) (11,432)
Net Cash Used In Continuing Investing Activities (80,875) (7,086,489)
Cash Flows from Financing Activities    
Net increase in deposits 5,661,096 2,190,141
Net increase (decrease) in short-term borrowed funds from the FHLB (850,000) 0
Net increase (decrease) in federal funds purchased (250,000) 142,000
Net increase (decrease) in borrowed funds from FRB PPP liquidity facility (4,415,016) 4,811,009
Proceeds from issuance of other long-term borrowings 98,799 0
Redemption of preferred stock (82,497) 0
Preferred stock dividends paid (8,794) (10,661)
Payments of employee taxes withheld from share-based awards (4,201) (1,143)
Proceeds from issuance of common stock 11,660 635
Proceeds from sale of non-controlling interest in BMT 26,795 0
Net Cash Provided By Continuing Financing Activities 187,842 7,131,981
Net Increase (Decrease) in Cash and Cash Equivalents From Continuing Operations 381,491 119,282
Discontinued Operations:    
Net Cash Used In Operating Activities (22,791) (423)
Net Cash Provided By Investing Activities 0 52
Net Increase (Decrease) in Cash and Cash Equivalents From Discontinued Operations (22,791) (371)
Net Increase (Decrease) in Cash and Cash Equivalents 358,700 118,911
Cash and Cash Equivalents – Beginning 693,354 212,505
Cash and Cash Equivalents – Ending 1,052,054 331,416
Non-cash Investing and Financing Activities:    
Transfer of loans to other real estate owned 0 31
Distribution of investment in BM Technologies common stock 32,983 0
Transfer of loans held for investment to held for sale 17,155 18,336
Transfer of loans held for sale to held for investment 55,684 0
Unsettled purchases of investment securities 160,000 22,500
Transfer of multi-family loans held for sale to held for investment $ 0 $ 401,144