XML 27 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 542,141 $ 757,902 $ 760,467
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (reversal of) credit losses 189,079 84,553 (106,251)
Depreciation, amortization, and accretion, net 93,458 69,172 113,552
Deferred income tax expense (benefit) 16,837 10,868 45,000
Originations of loans held for sale (600,671) (3,352,235) (3,698,368)
Proceeds from sales of loans held for sale 945,944 3,709,022 3,749,502
Gain on sales of loans held for sale, net (9,700) (12,126) (42,513)
(Increase) decrease in other assets (290,477) (187,205) (34,293)
Increase (decrease) in other liabilities 244,335 82,957 (21,674)
Investment securities (gains) losses, net 76,718 0 799
Share-based compensation expense 32,224 27,904 27,795
Loss on sales of loans 50,064 0 0
Other (7,329) 677 0
Net cash provided by (used in) operating activities 1,282,623 1,191,489 794,016
Investing Activities      
Net cash received (paid) for business combination and divestiture 8,359 0 0
Proceeds from maturities and principal collections of investment securities available for sale 937,967 1,973,990 3,051,158
Proceeds from sales of investment securities available for sale 1,301,520 0 565,400
Purchases of investment securities available for sale (2,150,430) (2,287,318) (6,877,712)
Net proceeds from sales of loans 1,651,154 69,784 111,168
Purchases of loans (10,623) (514,475) (1,624,182)
Net (increase) decrease in loans (1,524,681) (3,987,133) 373,964
Net (purchases) redemptions of Federal Reserve Bank stock (5,081) 15,151 (1,220)
Net (purchases) redemptions of Federal Home Loan Bank stock 128,458 (163,531) (1,200)
Net (purchases) proceeds from settlement of bank-owned life insurance policies 8,773 9,271 19,045
Net increase in premises, equipment and software (32,207) (30,105) (25,954)
Other 10,757 58,884 25,367
Net cash provided by (used in) investing activities 323,966 (4,855,482) (4,384,166)
Financing Activities      
Net increase (decrease) in deposits 1,858,349 (531,490) 2,735,705
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements 42,486 (117,545) 36,211
Net increase (decrease) in other short-term borrowings (599,888) 603,184 (7,520)
Repayments and redemption of long-term debt (5,404,731) (700,000) 0
Proceeds from long-term debt, net 3,220,912 3,622,892 0
Dividends paid to common shareholders (216,061) (196,148) (194,677)
Dividends paid to preferred shareholders (35,950) (33,163) (33,163)
Issuances, net of taxes paid, under equity compensation plans 1,940 (2,823) 11,566
Repurchase of common stock 0 (12,987) (199,932)
Other 0 0 (1,104)
Net cash provided by (used in) financing activities (1,132,943) 2,631,920 2,347,086
Increase (decrease) in cash and cash equivalents including restricted cash 473,646 (1,032,073) (1,243,064)
Cash, cash equivalents, and restricted cash at beginning of year 1,977,780 3,009,853 4,252,917
Cash, cash equivalents, and restricted cash at end of year 2,451,426 1,977,780 3,009,853
Supplemental Disclosures:      
Income taxes paid 69,753 175,680 204,214
Interest paid 1,112,905 242,040 132,923
Non-cash Activities:      
Settlement of acquired debt $ 31,109 $ 0 $ 0