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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 253,788 $ 331,946
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of investment premiums, net 5,089 10,934
Gain on sale of investment securities, net (2) (4)
Provision (recapture) for credit losses 51,068 (41,915)
Change in cash surrender value of bank owned life insurance (6,293) (6,302)
Depreciation, amortization and accretion 21,560 23,492
(Gain) loss on sale of premises and equipment (2,203) 436
Additions to residential mortgage servicing rights carried at fair value (20,397) (30,845)
Change in fair value of residential mortgage servicing rights carried at fair value (52,165) 17,918
Stock-based compensation 7,254 8,106
Net decrease in equity and other investments 1,554 457
Loss on equity securities, net 7,383 1,045
Loss (gain) on sale of loans and leases, net 207 (124,764)
Change in fair value of loans held for sale 14,616 21,727
Origination of loans held for sale (1,622,633) (3,875,836)
Proceeds from sales of loans held for sale 1,793,676 4,065,846
Change in other assets and liabilities:    
Net decrease in other assets 203,802 161,119
Net increase (decrease) in other liabilities 248,362 (21,816)
Net cash provided by operating activities 904,666 541,544
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities available for sale (175,656) (1,473,840)
Proceeds from investment securities available for sale 328,685 578,240
Purchases of restricted equity securities 164,344 34
Redemption of restricted equity securities 134,267 30,754
Net change in loans and leases (3,064,741) (85,539)
Proceeds from sales of loans and leases 111,584 182,605
Change in premises and equipment (11,259) (13,121)
Proceeds from bank owned life insurance death benefits 4,069 3,401
Net cash received from sale of Umpqua Investments, Inc. 0 10,781
Other 1,997 1,879
Net cash used in investing activities (2,835,398) (764,874)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposit liabilities 222,437 2,286,225
Net (decrease) increase in securities sold under agreements to repurchase (108,678) 92,376
Proceeds from borrowings 750,000 0
Repayment of borrowings 0 (765,000)
Net proceeds from issuance of common stock 54 34
Dividends paid on common stock (136,693) (138,243)
Repurchase and retirement of common stock (4,150) (80,654)
Net cash provided by financing activities 722,970 1,394,738
Net (decrease) increase in cash and cash equivalents (1,207,762) 1,171,408
Cash and cash equivalents, beginning of period 2,761,621 2,573,181
Cash and cash equivalents, end of period 1,553,859 3,744,589
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 33,154 35,085
Income taxes 44,174 81,482
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Changes in unrealized gains and losses on investment securities available for sale, net of taxes (427,691) (69,478)
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes (23,628) (33,058)
Transfer of loans held for sale to loans held for investment $ 13,799 $ 315,887