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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 202,159 $ 171,037
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for (reversal of) credit losses 32,154 11,400
Depreciation, amortization, and accretion, net 20,088 18,425
Deferred income tax expense (benefit) 706 1,250
Originations of loans held for sale (143,149) (915,873)
Proceeds from sales and payments on loans held for sale 275,274 946,187
Gain on sales of loans held for sale, net (2,716) (4,647)
(Increase) decrease in other assets (63,174) (50,025)
Increase (decrease) in other liabilities 25,417 (5,433)
Investment securities (gains) losses, net (1,030) 0
Share-based compensation expense 8,711 8,334
Other 0 677
Net cash provided by (used in) operating activities 354,440 181,332
Investing Activities    
Proceeds from maturities and principal collections of investment securities available for sale 205,098 642,957
Proceeds from sales of investment securities available for sale 82,595 0
Purchases of investment securities available for sale (193,009) (820,120)
Proceeds from sales of loans 1,505 39,568
Purchases of loans 0 (181,335)
Net (increase) decrease in loans (773,103) (726,686)
Net (purchases) redemptions of Federal Home Loan Bank stock (7,439) (13,827)
Net (purchases) redemptions of Federal Reserve Bank stock (7,108) (424)
Net proceeds from settlement (purchases) of bank-owned life insurance policies 2,514 0
Net increase in premises, equipment and software (6,519) (2,662)
Other 3,015 28,464
Net cash provided by (used in) investing activities (692,451) (1,034,065)
Financing Activities    
Net increase (decrease) in deposits 1,070,206 (771,032)
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements 49,107 236,991
Net increase (decrease) in other short-term borrowings (350,232) 400,192
Repayments and redemption of long-term debt 0 (400,000)
Proceeds from long-term debt, net 1,020,912 0
Dividends paid to common shareholders (49,465) (47,851)
Dividends paid to preferred shareholders (8,291) (8,291)
Repurchases of common stock 0 (9,671)
Issuances, net of taxes paid, under equity compensation plans (6,606) (3,955)
Net cash provided by (used in) financing activities 1,725,631 (603,617)
Increase (decrease) in cash and cash equivalents including restricted cash 1,387,620 (1,456,350)
Cash, cash equivalents, and restricted cash, at beginning of period 1,977,780 3,009,853
Cash, cash equivalents, and restricted cash at end of period 3,365,400 1,553,503
Supplemental Disclosures:    
Income taxes paid 52,157 46,493
Interest paid 206,624 27,278
Non-cash Activities    
Loans transferred (from) to other loans held for sale $ 424,104 $ (1,055)