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Consolidated Statement of Cash Flows - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 237,652 $ 204,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,555 37,490
Amortization of premiums and accretion of discount, net 11,824 5,770
Stock compensation costs 8,433 7,817
Deferred income tax (expense) benefit (7,083) 224
Provision for credit losses 8,000 0
Net gains on sales of loans (2,922) (1,781)
Gains on sales of AFS debt securities (1,278) (192)
Loans held-for-sale:    
Originations and purchases (447) (5,718)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 461 7,644
Proceeds from distributions received from equity method investees 3,227 2,505
Net change in accrued interest receivable and other assets (81,628) 185,503
Net change in accrued expenses and other liabilities 83,042 (101,574)
Other net operating activities 49 20
Total adjustments 48,233 137,708
Net cash provided by operating activities 285,885 342,702
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in qualified affordable housing partnerships, tax credit and other investments (32,853) (52,756)
Interest-bearing deposits with banks (79,633) 67,793
Resale agreements:    
Proceeds from paydowns and maturities 554,932 223,952
Purchases (158,251) (923,990)
AFS debt securities:    
Proceeds from sales 103,945 46,397
Proceeds from repayments, maturities and redemptions 446,301 473,808
Purchases (746,855) (2,969,640)
HTM debt securities:    
Proceeds from repayments, maturities and redemptions 15,448 0
Loans held-for-investment:    
Proceeds from sales of loans originally classified as held-for-investment 135,517 147,115
Purchases (225,065) (311,030)
Other changes in loans held-for-investment, net (1,697,590) (1,047,557)
Proceeds from distributions received from equity method investees 4,348 2,832
Other net investing activities (2,758) (2,870)
Net cash used in investing activities (1,682,514) (4,345,946)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 1,584,344 4,690,658
Net decrease in short-term borrowings (31) (21,143)
FHLB advances:    
Proceeds 100 0
Repayment (175,100) 0
Long-term debt and lease liabilities:    
Repayment of long-term debt and lease liabilities (229) (315)
Common stock:    
Stocks tendered for payment of withholding taxes (18,597) (14,983)
Cash dividends paid (58,900) (48,213)
Net cash provided by financing activities 1,331,587 4,606,004
Effect of exchange rate changes on cash and cash equivalents 807 (1,598)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (64,235) 601,162
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,912,935 4,017,971
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,848,700 4,619,133
Cash paid during the period for:    
Interest 20,881 29,680
Income tax refund 581 0
Noncash investing and financing activities:    
Securities transferred from AFS to HTM debt securities 3,010,003 0
Loans transferred from held-for-investment to held-for-sale 133,217 145,872
Loans transferred to other real estate owned (“OREO”) and other foreclosed assets $ 0 $ 10,360