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Consolidated Statement of Cash Flows - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 204,994 $ 144,824
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,490 31,186
Amortization of premiums and accretion of discount , net 5,770 (4,519)
Stock compensation costs 7,817 7,209
Deferred income tax benefit 224 28
Provision for credit losses 0 73,870
Net gains on sales of loans (1,781) (950)
Gains on sales of AFS debt securities (192) (1,529)
Loans held-for-sale:    
Originations and purchases (5,718) (5,802)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 7,644 4,657
Proceeds from distributions received from equity method investees 2,505 973
Net change in accrued interest receivable and other assets 185,677 (462,766)
Net change in accrued expenses and other liabilities (72,935) 304,680
Other net operating activities 20 (158)
Total adjustments 166,521 (53,121)
Net cash provided by operating activities 371,515 91,703
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in qualified affordable housing partnerships, tax credit and other investments (52,756) (27,581)
Interest-bearing deposits with banks 29,000 (115,419)
Resale agreements:    
Proceeds from paydowns and maturities 223,952 250,000
Purchases (923,990) 0
AFS debt securities:    
Proceeds from sales 46,397 306,463
Proceeds from repayments, maturities and redemptions 473,808 308,620
Purchases (2,969,640) (987,130)
Loans held-for-investment:    
Proceeds from sales of loans originally classified as held-for-investment 147,115 110,945
Purchases (311,030) (133,185)
Other changes in loans held-for-investment, net (1,046,727) (1,116,358)
Purchases of premises and equipment (1,563) (916)
Proceeds from distributions received from equity method investees 2,832 374
Other net investing activities (1,307) (1,143)
Net cash used in investing activities (4,383,909) (1,405,330)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 4,559,929 1,374,287
Net increase (decrease) in short-term borrowings (21,143) 39,962
Repayment of FHLB advances 0 (99,999)
Repayment of long-term debt and lease liabilities (315) (289)
Common stock:    
Repurchase of common stocks pursuant to the Stock Repurchase Program 0 (145,966)
Stocks tendered for payment of withholding taxes (14,983) (7,609)
Cash dividends paid (48,213) (41,358)
Net cash provided by financing activities 4,475,275 1,119,028
Effect of exchange rate changes on cash and cash equivalents 138,281 13,492
NET INCREASE IN CASH AND CASH EQUIVALENTS 601,162 (181,107)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 4,017,971 3,261,149
CASH AND CASH EQUIVALENTS, END OF PERIOD 4,619,133 3,080,042
Cash paid during the period for:    
Interest 29,680 88,520
Income taxes, net 0 2,904
Noncash investing and financing activities:    
Loans transferred from held-for-investment to held-for-sale 145,872 110,223
Loans transferred to other real estate owned (“OREO”) and other nonperforming assets $ 10,360 $ 23,394