XML 21 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
 [1]
Cash flows from operating activities:    
Net income $ 43,173 $ 27,214
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion, net 35,002 26,646
Stock-based compensation expense 8,405 678
Provision for loan losses 10,732 4,057
(Recovery) provision for deferred taxes (2,914) 348
(Gain) loss on other assets (21) 23
Gain on foreclosed real estate (7) 0
Loss on sale of securities available for sale, net 1,331 52
Capital lease obligations interest expense (92) (95)
Net change in accrued interest receivable (4,632) (4,559)
Originations of loans held for sale (685,934) 0
Proceeds from sales of loans held for sale 685,934 0
Change in bank-owned life insurance value (1,549) (1,208)
Net change in other assets (24,179) (3,745)
Net change in accrued interest payable 1,588 65
Excess contingent consideration paid (248) 0
Net change in accrued expenses and other liabilities 16,172 627
Net cash provided by operating activities 82,761 50,103
Cash flows from investing activities:    
Purchase of securities available-for-sale (782,169) (474,281)
Proceeds from sales of securities available-for-sale 317,099 224,564
Proceeds from maturities and principal repayments of securities available-for-sale 86,516 83,487
Purchase of securities held to maturity (932) (252,108)
Proceeds from maturities and principal repayments of securities held to maturity 34,242 11,242
Purchase of bank owned life insurance (25,000) (10,000)
Purchase of student loan portfolio (136,172) 0
Proceeds from loan sales 2,141 88
Net change in loans receivable (168,537) (152,396)
Proceeds from sales of foreclosed real estate or other assets 97 0
Net cash paid for acquisitions (29,425) 0
Federal Home Loan Bank stock purchases (468,291) (615,701)
Federal Home Loan Bank stock redemptions 499,480 614,800
Proceeds from the sale of premises and equipment 57 51
Purchase of premises and equipment (5,699) (5,536)
Net cash used in investing activities (676,593) (575,790)
Cash flows from financing activities:    
Net change in checking, savings, and money market deposits 320,512 520,257
Net change in time deposits (42,232) 9,165
Net change in wholesale deposits 444,857 0
Net change in FHLB and other borrowings (100,000) 100,000
Net change in federal funds (717,000) (103,000)
Net change in securities sold under agreements to repurchase (938) (1,773)
Principal payments on capital lease obligations (59) (95)
Cash dividends paid (3,625) (3,281)
Purchase of shares by ESOP 1,174 0
Issuance of restricted stock 4 0
Proceeds from exercise of stock options 529 13,586
Shares repurchased for tax withholdings on stock compensation (337) 0
Contingent consideration - cash paid (17,253) 0
Net cash (used in) provided by financing activities (114,368) 534,859
Net change in cash and cash equivalents (708,200) 9,172
Cash and cash equivalents at beginning of period 773,830 27,658
Cash and cash equivalents at end of period 65,630 36,830
Cash paid during the period for:    
Interest 8,824 2,190
Income taxes 19,947 5,204
Franchise taxes 156 74
Other taxes 289 78
Supplemental schedule of non-cash investing activities:    
Loans transferred to foreclosed real estate and repossessed assets (378) 0
Stock issued for acquisitions (37,296) 0
Contingent consideration - equity (24,142) 0
Purchase of held-to-maturity securities accrued, not paid $ 0 $ 20,884
[1] See Note 1. Basis of Presentation for further discussion on the current presentation.