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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 58,914 $ 142,357
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 96,646 9,550
Depreciation, amortization and accretion, net 34,058 32,959
Deferred (benefits) income taxes (13,786) 15,724
Stock-based compensation 5,596 3,551
Other gains (33) (8)
Originations of loans held for sale (123,331) (4,091)
Proceeds from sales of loans held for sale 120,970 4,343
Net gains on sales of loans originated for investment and held for sale (4,581) (35)
Net losses on investment securities 126 2,592
Change in assets and liabilities:    
Net decrease in other assets 18,272 1,145
Net decrease in other liabilities (84,298) (63,844)
Net cash provided by operating activities 108,553 144,243
Available-for-sale securities:    
Proceeds from maturities and principal repayments 597,670 322,954
Proceeds from calls and sales 644,703 905,605
Purchases (2,195,832) (999,491)
Other investments:    
Proceeds from sales 18,346 4,854
Purchases (27,562) (12,693)
Loans:    
Net (increase) decrease in loans and leases resulting from originations and principal repayments (698,069) 21,111
Proceeds from sales of loans originated for investment 132,011  
Purchases of loans (40,611) (222,816)
Proceeds from bank-owned life insurance 1,845 2,557
Purchases of premises, equipment and software (20,646) (16,269)
Proceeds from sales of other real estate owned 316 759
Other (1,951) (1,429)
Net cash (used in) provided by investing activities (1,589,780) 5,142
Cash flows from financing activities    
Net increase (decrease) in deposits 2,916,640 (357,990)
Repayment of short-term borrowings (200,000)  
Dividends paid (67,547) (69,984)
Stock tendered for payment of withholding taxes (1,661) (1,533)
Common stock repurchased (5,000) (40,000)
Net cash provided by (used in) financing activities 2,642,432 (469,507)
Net increase (decrease) in cash and cash equivalents 1,161,205 (320,122)
Cash and cash equivalents at beginning of period 694,017 1,003,637
Cash and cash equivalents at end of period 1,855,222 683,515
Supplemental disclosures    
Interest paid 37,370 51,421
Income taxes paid, net of income tax refunds 4,242 41,593
Noncash investing and financing activities:    
Operating lease right-of-use assets obtained in exchange for new lease obligations 1,965 680
Transfers from loans and leases to loans held for sale 130,863  
Obligation to fund low-income housing partnerships $ 11,369 $ 32,897