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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 223,880 $ (1,799,021)
Adjustments to reconcile net income to net cash used in operating activities:    
Goodwill impairment 0 1,784,936
Amortization of investment premiums, net 8,181 12,822
Gain on sale of investment securities, net (4) (190)
(RECAPTURE) PROVISION FOR CREDIT LOSSES  (22,996) 205,170
Change in cash surrender value of bank owned life insurance (4,236) (4,319)
Depreciation, amortization and accretion 15,769 20,015
Loss (gain) on sale of premises and equipment 593 (3)
Increase In Mortgage Servicing Rights Carried At Fair Value (22,395) (23,470)
Change in fair value of residential mortgage servicing rights carried at fair value 12,603 42,124
Stock-based compensation 5,341 4,756
Net decrease (increase) in equity and other investments 276 (739)
Loss (gain) on equity securities, net 702 (1,054)
Gain on sale of loans and leases, net (87,786) (119,647)
Change in fair value of loans held for sale 17,215 (14,273)
Origination of loans held for sale (2,888,555) (2,974,279)
Proceeds from sales of loans held for sale 2,973,721 3,023,664
Change in other assets and liabilities:    
Net decrease (increase) in other assets 49,333 (265,107)
Net increase (decrease) in other liabilities 4,755 (36,279)
Net cash provided by (used in) operating activities 286,397 (144,894)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities available for sale (1,023,892) (353,601)
Proceeds from investment securities available for sale 408,950 401,464
Purchases of restricted equity securities (34) (19,999)
Redemption of restricted equity securities 26,453 12,400
Net change in loans and leases (213,070) (1,566,117)
Proceeds from sales of loans and leases 140,011 41,386
Change in premises and equipment (8,822) (9,171)
Proceeds from bank owned life insurance death benefits 2,708 57
Net cash received from sale of Umpqua Investments, Inc. (10,781) 0
Payments for (Proceeds from) Other Investing Activities 1,734 938
Net cash used in investing activities (655,181) (1,492,643)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposit liabilities 1,531,374 2,363,045
Net increase in securities sold under agreements to repurchase 104,918 87,106
Proceeds from borrowings 0 600,000
Repayment of borrowings (660,000) (410,000)
Net proceeds from issuance of common stock 34 0
Dividends paid on common stock (92,579) (92,485)
Repurchase and retirement of common stock (2,333) (8,611)
Net cash provided by financing activities 881,414 2,539,055
Net increase in cash and cash equivalents 512,630 901,518
Cash and cash equivalents, beginning of period 2,573,181 1,362,756
Cash and cash equivalents, end of period 3,085,811 2,264,274
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 26,646 87,742
Income taxes 78,592 68,332
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Changes in unrealized gains and losses on investment securities available for sale, net of taxes (47,932) 83,298
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes (24,184) 30,761
Cumulative effect adjustment to retained earnings 0 40,181
Transfer of loans to loans held for sale 0 9,674
Transfer of loans held for sale to loans 315,887 0
Change in GNMA mortgage loans recognized due to repurchase option $ 0 $ (1,752)