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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 169,748 $ 223,880
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of investment premiums, net 3,771 8,181
Gain on sale of investment securities, net (2) (4)
Provision (recapture) for credit losses 23,496 (22,996)
Change in cash surrender value of bank owned life insurance (4,270) (4,236)
Depreciation, amortization and accretion 14,681 15,769
(Gain) loss on sale of premises and equipment (1,865) 593
Additions to residential mortgage servicing rights carried at fair value (15,203) (22,395)
Change in fair value of residential mortgage servicing rights carried at fair value (40,740) 12,603
Stock-based compensation 4,737 5,341
Net decrease in equity and other investments 1,131 276
Loss on equity securities, net 4,736 702
Loss (gain) on sale of loans and leases, net 5,376 (87,786)
Change in fair value of loans held for sale 6,852 17,215
Origination of loans held for sale (1,225,654) (2,888,555)
Proceeds from sales of loans held for sale 1,323,515 2,973,721
Change in other assets and liabilities:    
Net decrease in other assets 204,548 49,333
Net increase in other liabilities 105,658 4,755
Net cash provided by operating activities 580,515 286,397
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities available for sale (175,656) (1,023,892)
Proceeds from investment securities available for sale 236,066 408,950
Redemption of restricted equity securities 67 26,453
Net change in loans and leases (1,947,302) (213,070)
Proceeds from sales of loans and leases 70,503 140,011
Change in premises and equipment (4,971) (8,822)
Proceeds from bank owned life insurance death benefits 3,251 2,708
Net cash received from sale of Umpqua Investments, Inc. 0 10,781
Other 191 1,700
Net cash used in investing activities (1,817,851) (655,181)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in deposit liabilities (462,251) 1,531,374
Net increase in securities sold under agreements to repurchase 35,714 104,918
Repayment of borrowings 0 (660,000)
Net proceeds from issuance of common stock 54 34
Dividends paid on common stock (91,112) (92,579)
Repurchase and retirement of common stock (4,109) (2,333)
Net cash (used in) provided by financing activities (521,704) 881,414
Net (decrease) increase in cash and cash equivalents (1,759,040) 512,630
Cash and cash equivalents, beginning of period 2,761,621 2,573,181
Cash and cash equivalents, end of period 1,002,581 3,085,811
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 17,535 26,646
Income taxes 31,477 78,592
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Changes in unrealized gains and losses on investment securities available for sale, net of taxes (289,281) (47,932)
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes (20,625) (24,184)
Transfer of loans held for sale to loans held for investment $ 10,487 $ 315,887