Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 38,997,000 $ 43,832,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,187,000 6,151,000
Share-based compensation expense 1,681,000 1,747,000
Negative provision for loan losses (7,779,000) (7,463,000)
Bargain purchase gain, net of deferred taxes 0 (14,577,000)
Gain on sales of securities (6,144,000) (1,852,000)
Gain on sales of loans (4,878,000) (2,267,000)
Gain on sale of premises and equipment (137,000) 0
Disposition gains on PCI loans (8,027,000) 0
Loss on sale of OREO 0 2,000
Loss on sales of subsidiaries 0 419,000
Valuation adjustment on OREO (27,000) 0
Origination of loans held for sale (59,273,000) (34,798,000)
Proceeds from sales of SBA loans 66,157,000 29,826,000
Change in accrued interest receivable 1,027,000 609,000
Change in bank-owned life insurance (524,000) (672,000)
Change in prepaid expenses and other assets 2,042,000 (5,801,000)
Change in income tax asset 12,304,000 (2,667,000)
Change in accrued interest payable (465,000) (821,000)
Change in FDIC loss sharing liability (901,000) 1,997,000
Change in accrued expenses and other liabilities (12,669,000) 10,426,000
Net cash provided by operating activities 36,571,000 24,091,000
Cash flows from investing activities:    
Proceeds from redemption of FHLB stock 1,195,000 0
Proceeds from matured, called and paid-down of securities 94,108,000 61,145,000
Proceeds from sales of securities 352,224,000 135,834,000
Proceeds from sales of OREO 7,532,000 9,932,000
Proceeds from sales of loans 360,000 0
Proceeds from bank-owned life insurance 1,323,000 0
Cash acquired in acquisition, net of cash consideration paid 0 118,533,000
Net proceeds from sales of subsidiaries 0 398,000
Change in loans receivable, net of purchases (154,892,000) (67,615,000)
Purchases of securities (111,864,000) (124,442,000)
Purchases of premises and equipment (1,169,000) (739,000)
Purchases of loans receivable (100,763,000) (91,325,000)
Purchases of FRB stock (1,825,000) (3,403,000)
Net cash provided by investing activities 86,229,000 38,318,000
Cash flows from financing activities:    
Change in deposits (38,052,000) (13,168,000)
Change in FHLB advances 0 (27,546,000)
Redemption of rescinded stock obligation (933,000) 0
Proceeds from exercise of stock options 531,000 427,000
Cash paid for repurchases of vested shares due to employee tax liability (293,000) 0
Cash dividends paid (7,031,000) (4,463,000)
Net cash used in financing activities (45,778,000) (44,750,000)
Net increase in cash and cash equivalents 77,022,000 17,659,000
Cash and cash equivalents at beginning of year 158,320,000 179,357,000
Cash and cash equivalents at end of period 235,342,000 197,016,000
Cash paid during the period for:    
Interest 12,443,000 10,750,000
Income taxes 13,528,000 20,930,000
Non-cash activities:    
Transfer of loans receivable to OREO 5,056,000 7,501,000
Transfer of loans receivable to loans held for sale 360,000 0
Due from broker on sale of securities 57,800,000 0
Note receivable from sale of insurance subsidiaries 0 1,394,000
Conversion of stock warrants into common stock 0 2,000
Income tax expense related to items in other comprehensive income (1,220,000) (3,322,000)
Change in unrealized gain in accumulated other comprehensive income (9,059,000) (9,489,000)
Cash dividends declared $ (3,518,000) $ (2,231,000)