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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income (loss) $ 124,070 $ 202,159
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for (reversal of) credit losses 53,980 32,154
Depreciation, amortization, and accretion, net 17,854 20,088
Deferred income tax expense (benefit) 2,446 706
Originations of loans held for sale (468,414) (143,149)
Proceeds from sales and payments on loans held for sale 392,753 275,274
Gain on sales of loans held for sale, net (2,419) (2,716)
(Increase) decrease in other assets (81,810) (63,174)
Increase (decrease) in other liabilities (22,298) 25,417
Investment securities (gains) losses, net 0 (1,030)
Share-based compensation expense 7,914 8,711
Net cash provided by (used in) operating activities 24,076 354,440
Investing Activities    
Proceeds from maturities and principal collections of investment securities available for sale 196,020 205,098
Proceeds from sales of investment securities available for sale 0 82,595
Purchases of investment securities available for sale (258,482) (193,009)
Net proceeds from sales of loans 2,548 1,505
Net (increase) decrease in loans 28,830 (773,103)
Net (purchases) redemptions of Federal Home Loan Bank stock (16,626) (7,439)
Net (purchases) redemptions of Federal Reserve Bank stock (12,144) (7,108)
Net proceeds from settlement (purchases) of bank-owned life insurance policies 0 2,514
Net increase in premises, equipment and software (18,490) (6,519)
Other 0 3,015
Net cash provided by (used in) investing activities (78,344) (692,451)
Financing Activities    
Net increase (decrease) in deposits (157,277) 1,070,206
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements (60,830) 49,107
Net increase (decrease) in other short-term borrowings 248,973 (350,232)
Proceeds from long-term debt, net 100,000 1,020,912
Dividends paid to common shareholders (55,733) (49,465)
Dividends paid to preferred shareholders (9,685) (8,291)
Repurchases of common stock (30,015) 0
Issuances, net of taxes paid, under equity compensation plans (9,091) (6,606)
Net cash provided by (used in) financing activities 26,342 1,725,631
Increase (decrease) in cash and cash equivalents including restricted cash (27,926) 1,387,620
Cash, cash equivalents, and restricted cash, at beginning of period 2,451,426 1,977,780
Cash, cash equivalents, and restricted cash at end of period 2,423,500 3,365,400
Supplemental Disclosures:    
Income taxes paid 28,798 52,157
Interest paid 385,188 206,624
Non-cash Activities    
Loans foreclosed and transferred to other real estate $ 21,210 $ 0