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As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD

Cash flows from operating activities

Net income 86,830 108,032 149,523 284,020 132,536

Adjustments to reconcile net income to net cash provided by operating activities

Provision for loan losses 6,500 14,875 23,300 30,750 9,561
Gains on sales of loans (6,354) (15,686) (31,734) (12,173) (11,538)
Proceeds from sales of loans 228,995 723,521 838,549 741,902 392,730
Valuation change in loans held-for-sale NA NA NA NA 1,730
Loans originated for sale, net of repayments (220,765) (534,422) (772,968) (760,591) (330,969)
Net gains on sale of investment securities (630) (129) 7,388 (224) (4,247)
Net (gains) losses from sales/writedowns of other real estate and repossessed assets (2,681) (5,212) (1,017) 203 (807)
Depreciation of premises and equipment 11,028 13,270 17,722 17,026 8,527
Amortization of intangible assets 8,444 10,046 6,090 5,716 2,721
Additions to loan servicing rights (1,476) (4,333) (8,745) (8,226) (4,242)
Valuation change in loan servicing rights (200) (4,585) 8,880 1,054 14,597
Net amortization of premiums and discounts on investment securities 6,007 9,713 19,262 19,446 12,744
Share-based compensation expense 3,478 13,452 17,346 8,578 5,129
Deferred income tax expense 5,700 24,091 93,184 41,916 3,783
Change in deferred tax valuation allowance NA (706) (1,089) 317 0
Net increase in interest receivable and other assets (19,027) (24,977) (150,585) (74,723) (126,406)
Net increase (decrease) in interest payable and other liabilities (2,800) (46,449) 59,760 29,410 101,202
Net cash provided by operating activities 103,049 280,501 274,866 324,401 207,051

Cash flows from investing activities

Investment securities - carried at fair value

Proceeds from maturities, calls and principal reductions 212,051 248,772 318,952 291,008 338,123
Proceeds from sales and redemptions 40,301 41,446 409,220 4,215 205,331
Purchases 0 (187,702) (1,480,524) (1,405,798) (772,263)

Investment securities - held-to-maturity

Proceeds from maturities, calls and principal reductions 87,189 90,933 93,600 104,535 1,880
Purchases (279,226) (206,023) (141,489) (52,752) (1,549)
Net increase in loans (493,776) (860,135) (1,189,865) (1,140,686) (602,373)
Proceeds from sales of other real estate and repossessed assets 16,653 22,147 19,879 13,396 5,311
Purchases of premises and equipment, net of disposals (8,527) (18,098) (12,852) (13,572) (8,793)
Proceeds from returns of investment in equity method investments NA 77 143 326 162
Cash acquired, net of cash paid, in business combinations 16,551 325,714 0 0 NA
Net cash used in investing activities (408,784) (542,869) (1,982,936) (2,199,328) (834,171)

Cash flows from financing activities

Net increase in interest- and noninterest-bearing demand deposits and savings accounts 479,386 672,584 243,110 1,111,747 388
Net increase in time deposits (170,598) (550,847) 526,571 838,732 285,766
Net increase in collateralized customer deposits and other short-term borrowings (31,268) 401,144 1,247,189 2,451 488,984
Proceeds from issuance of long-term borrowings 125,000 375,000 0 200,000 NA
Repayment of long-term borrowings (6,000) (351,018) (224,850) (147,000) 0
Cash dividends paid (36,918) (49,389) (78,498) (88,954) (48,973)
Proceeds from directors' stock plans and exercise of stock options, net of shares withheld 2,473 1,572 3,991 3,115 520
Cash paid for payroll taxes upon conversion of share-based awards (571) (1,065) (27,854) (5,316) (2,646)
Net cash provided by financing activities 361,504 497,981 1,689,659 1,914,775 724,039
Net increase in cash and cash equivalents 55,769 235,613 (18,411) 39,848 96,919
Cash and cash equivalents at beginning of period 183,020 238,789 474,402 455,991 495,839
Cash and cash equivalents at end of period 238,789 474,402 455,991 495,839 592,758

Supplemental disclosures of cash flow information

Interest paid 16,958 25,460 73,643 136,706 107,783
Net income tax (refunds) payments 41,450 22,200 2,252 4,063 (4,709)

Non-cash activities

Loans transferred to other real estate and repossessed assets 9,329 12,970 11,546 11,486 6,729
Net transfer of loans held-for-sale to (from) loans held-for-investment 0 (289) (4,150) (2,035) 58
Closed branch offices transferred to other assets 2,692 4,846 13,246 0 NA

Business combinations

Fair value of tangible assets acquired (noncash) 1,282,420 6,371,781 420 0 NA
Goodwill, loan servicing rights and other identifiable intangible assets acquired 118,744 908,217 1,034 0 NA
Liabilities assumed 1,258,051 6,100,901 1,454 0 NA
Common stock and stock options issued 159,904 1,504,811 0 0 NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.