Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 98,798 $ 137,692
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of premises and equipment 11,311 11,138
Write-down of foreclosed properties and former bank premises 4,847 1,162
Amortization, net 20,151 19,033
Amortization (accretion) related to acquisition, net (7,736) (5,200)
Provision for credit losses 100,954 18,192
Gains on securities transactions, net (12,293) (7,306)
BOLI income (7,498) (6,191)
Decrease (increase) in loans held for sale, net 2,798 (50,981)
Losses (gains) on sales of foreclosed properties and former bank premises, net 37 144
Loss on debt extinguishment 10,306 16,397
Stock-based compensation expenses 7,152 6,363
Issuance of common stock for services 604 698
Net decrease (increase) in other assets (180,310) (76,118)
Net increase in other liabilities 128,298 44,312
Net cash provided by (used in) operating activities 177,419 109,335
Investing activities:    
Purchases of AFS securities and restricted stock (940,745) (312,120)
Purchases of HTM securities 0 (47,217)
Proceeds from sales of AFS securities and restricted stock 232,946 486,925
Proceeds from maturities, calls and paydowns of AFS securities 271,986 176,824
Proceeds from maturities, calls and paydowns of HTM securities 5,996 2,523
Net increase in loans held for investment (1,761,350) (371,260)
Net increase in premises and equipment (18,557) (11,547)
Proceeds from BOLI settlements 439 0
Proceeds from sales of foreclosed properties and former bank premises 2,706 5,329
Cash paid in acquisitions 0 (12)
Cash acquired in acquisitions 0 46,164
Net cash provided by (used in) investing activities (2,206,579) (24,391)
Financing activities:    
Net increase in noninterest-bearing deposits 1,450,526 376,160
Net increase in interest-bearing deposits 820,701 471,204
Net increase (decrease) in short-term borrowings (169,967) (896,622)
Cash paid for contingent consideration 0 (565)
Proceeds from issuance of long-term debt 189,945 550,000
Repayments of long-term debt (230,306) (160,614)
Cash dividends paid - common stock (59,180) (58,239)
Cash dividends paid - preferred stock (2,691) 0
Repurchase of common stock (49,879) (35,284)
Issuance of common stock 801 1,818
Issuance of preferred stock, net 166,356 0
Vesting of restricted stock, net of shares held for taxes (2,212) (2,081)
Net cash provided by (used in) financing activities 2,114,094 245,777
Increase (decrease) in cash and cash equivalents 84,934 330,721
Cash, cash equivalents and restricted cash at beginning of the period 436,032 261,199
Cash, cash equivalents and restricted cash at end of the period 520,966 591,920
Cash payments for:    
Interest 82,409 118,067
Income taxes 13,649 20,416
Supplemental schedule of noncash investing and financing activities    
Transfers from loans (foreclosed properties) to foreclosed properties (loans) 615 1,816
Transfers from bank premises to OREO 7,949  
Issuance of common stock in exchange for net assets in acquisition 0 499,974
Transactions related to acquisitions    
Assets acquired 0 2,855,993
Liabilities assumed $ 0 $ 2,558,638