XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 331,509 $ 274,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 28,900 11,500
Net amortization of premiums and discounts from acquisition 1,057 390
Depreciation and amortization 39,751 41,736
Amortization of debt issuance costs 338 338
Deferred income tax benefit (6,332) (3,403)
Net decrease (increase) in trading securities and other earning assets 17,485 (47,336)
Gains on investment securities, net (58,853) (3,609)
Gains on sales of assets (3,206) (2,605)
Amortization of securities premiums, net of discount accretion 34,617 42,014
Originations of loans held for sale (34,340) (112,448)
Gains on sales of loans held for sale, net (910) (4,294)
Proceeds from sales of loans held for sale 33,657 118,805
Equity-based compensation 16,741 14,096
Net tax benefit related to equity compensation plans 2,253 1,813
Changes in:    
Accrued income (22,756) 12,891
Accrued expenses and taxes (38,518) (60,986)
Other assets and liabilities, net 283,716 78,938
Net cash provided by operating activities 625,109 362,362
Securities held to maturity:    
Maturities, calls and principal repayments 350,282 142,169
Purchases (946,974) (216,979)
Securities available for sale:    
Sales 0 295,546
Maturities, calls and principal repayments 935,626 1,336,507
Purchases (1,128,812) (3,720,734)
Equity securities with readily determinable fair values:    
Sales 28,417 72,801
Maturities, calls and principal repayments   2
Purchases (1,019) (1,058)
Equity securities without readily determinable fair values:    
Sales 13 14
Maturities, calls and principal repayments 148 2,501
Purchases (22,529) (20,936)
Payment on low-income housing tax credit investment commitments (30,238) (12,202)
Net increase in loans (2,802,349) (408,476)
Net decrease in fed funds sold and resell agreements 499,808 558,231
Net cash activity from acquisitions and divestitures 257,767 18,431
Net (increase) decrease in interest-bearing balances due from other financial institutions (20,653) 10,318
Purchases of premises and equipment (34,346) (20,703)
Proceeds from sales of premises and equipment 6,432 1,666
Purchases of bank-owned and company-owned life insurance   (100,000)
Net cash used in investing activities (2,908,427) (2,062,902)
FINANCING ACTIVITIES    
Net (decrease) increase in demand and savings deposits (4,038,619) 4,475,973
Net increase (decrease) in time deposits 18,326 (291,414)
Net (decrease) increase in fed funds purchased and repurchase agreements (924,267) 184,843
Proceeds from long-term debt 110,000  
Payment of debt issuance costs (2,032)  
Cash dividends paid (53,666) (48,816)
Proceeds from exercise of stock options and sales of treasury shares 1,336 14,776
Purchases of treasury stock (31,806) (4,269)
Net cash (used in) provided by financing activities (4,920,728) 4,331,093
(Decrease) increase in cash and cash equivalents (7,204,046) 2,630,553
Cash and cash equivalents at beginning of period 9,214,564 3,497,566
Cash and cash equivalents at end of period 2,010,518 6,128,119
Supplemental disclosures:    
Income tax payments 80,053 69,612
Total interest payments 91,564 37,967
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 28,409 30,182
Commitment to fund low-income housing tax credit investments 28,409 $ 30,182
Transfer of loans to other real estate owned 12,381  
Transfer of securities from available-for-sale to held-to-maturity $ 3,741,208