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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 420,300 $ (1,523,420) $ 354,095
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Deferred income tax expense (benefit) 40,805 (62,943) (3,544)
Amortization of investment premiums, net 14,404 27,069 26,449
(Gain) loss on sales of investment securities, net (8) (190) 7,184
(Recapture) provision for credit losses (42,651) 204,861 72,515
Change in cash surrender value of bank owned life insurance (8,402) (8,500) (8,443)
Depreciation, amortization and accretion 31,498 37,474 43,286
Gain on sale of premises and equipment (574) (2,284) (2,821)
Gain on store divestiture 0 (9,650) (1,225)
Goodwill impairment 0 1,784,936 0
Additions to residential mortgage servicing rights carried at fair value (38,522) (51,000) (25,169)
Change in fair value residential mortgage servicing rights carried at fair value 7,814 73,103 44,783
Stock-based compensation 10,906 9,254 8,373
Net decrease (increase) in equity and other investments 352 (2,143) (16,702)
Loss (gain) on equity securities, net 1,511 (769) (83,475)
Gain on sale of loans and leases, net (145,723) (289,212) (95,353)
Change in fair value of loans held for sale 21,427 (16,776) (10,557)
Origination of loans held for sale (4,747,104) (6,666,500) (3,089,698)
Proceeds from sales of loans held for sale 4,952,918 6,791,133 2,838,171
Change in other assets and liabilities:      
Net decrease (increase) in other assets 153,148 (209,822) (137,981)
Net (decrease) increase in other liabilities (9,376) 9,153 (367)
Net cash provided by (used in) operating activities 662,723 93,774 (80,479)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of investment securities available for sale (1,838,923) (867,675) (697,969)
Proceeds from investment securities available for sale 761,249 828,752 918,658
Proceeds from sale of equity securities 0 0 81,853
Purchases of restricted equity securities (53) (20,021) (220,200)
Redemption of restricted equity securities 30,803 24,818 214,005
Net change in loans and leases (735,422) (862,125) (1,085,272)
Proceeds from sales of loans and leases 246,667 111,855 251,782
Change in premises and equipment (15,478) (11,986) (12,676)
Proceeds from bank owned life insurance death benefits 4,127 5,641 1,869
Proceeds from sale of mortgage servicing rights 0 0 34,401
Net cash received from sale of Umpqua Investments, Inc. 10,781 0 0
Net cash paid in store divestiture 0 (171,440) (44,646)
Other 1,974 2,070 8,044
Net cash used in investing activities (1,534,275) (960,111) (550,151)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in deposit liabilities 1,972,519 2,341,319 1,393,940
Net increase in securities sold under agreements to repurchase 116,863 64,076 14,157
Proceeds from borrowings 0 600,000 940,670
Repayment of borrowings (765,000) (735,000) (785,670)
Net proceeds from issuance of common stock 34 0 21
Dividends paid on common stock (183,734) (184,978) (185,101)
Repurchase and retirement of common stock (80,690) (8,655) (7,268)
Net cash provided by financing activities 1,059,992 2,076,762 1,370,749
Net increase in cash and cash equivalents 188,440 1,210,425 740,119
Cash and cash equivalents, beginning of period 2,573,181 1,362,756 622,637
Cash and cash equivalents, end of period 2,761,621 2,573,181 1,362,756
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Interest 42,820 136,018 209,526
Income taxes 105,119 130,228 129,616
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Change in unrealized gains and losses on investment securities available for sale, net of taxes (92,834) 79,200 69,238
Change in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes (28,152) 13,996 19,225
Cumulative effect adjustment to retained earnings 0 40,181 244
Cash dividend declared on common stock and payable after period-end 0 0 46,248
Transfer of loans to loans held for sale 0 78,146 0
Transfer of Loans Held-for-sale to Portfolio Loans 315,887 0 0
Change in GNMA mortgage loans recognized due to repurchase option $ 0 $ (4,337) $ (4,581)