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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 124,015 $ 216,556
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 101,718 9,550
Depreciation, amortization and accretion, net 49,598 49,976
Deferred income tax (benefits) provision (11,022) 19,124
Stock-based compensation 8,175 4,707
Other (gains) losses (29) 18
Originations of loans held for sale (232,682) (12,960)
Proceeds from sales of loans held for sale 220,217 11,856
Net (gains) losses on sales of loans originated for investment and held for sale (7,883) 1,156
Net losses on investment securities 102 2,592
Change in assets and liabilities:    
Net increase in other assets (25,094) (46,083)
Net decrease in other liabilities (126,178) (85,425)
Net cash provided by operating activities 100,937 171,067
Available-for-sale securities:    
Proceeds from maturities and principal repayments 1,022,539 536,058
Proceeds from calls and sales 644,703 943,630
Purchases (3,187,042) (999,490)
Other investments:    
Proceeds from sales 26,348 9,238
Purchases (48,603) (19,429)
Loans:    
Net (increase) decrease in loans and leases resulting from originations and principal repayments (445,652) 55,138
Proceeds from sales of loans originated for investment 132,011 407,698
Purchases of loans (40,611) (247,711)
Proceeds from bank-owned life insurance 3,046 5,612
Purchases of premises, equipment and software (27,717) (22,370)
Proceeds from sales of other real estate owned 787 759
Other (3,126) (2,023)
Net cash (used in) provided by investing activities (1,923,317) 667,110
Cash flows from financing activities    
Net increase (decrease) in deposits 2,452,768 (292,822)
Repayment of short-term borrowings (400,000)  
Repayment of long-term borrowings (9) (10)
Dividends paid (101,322) (104,392)
Stock tendered for payment of withholding taxes (1,745) (1,764)
Common stock repurchased (5,000) (98,809)
Net cash provided by (used in) financing activities 1,944,692 (497,797)
Net increase in cash and cash equivalents 122,312 340,380
Cash and cash equivalents at beginning of period 694,017 1,003,637
Cash and cash equivalents at end of period 816,329 1,344,017
Supplemental disclosures    
Interest paid 45,432 80,886
Income taxes paid, net of income tax refunds 48,271 69,173
Noncash investing and financing activities:    
Transfers from loans and leases to other real estate owned 437 75
Operating lease right-of-use assets obtained in exchange for new lease obligations 1,965 1,401
Transfers from loans and leases to loans held for sale 145,428 408,912
Obligation to fund low-income housing partnerships $ 17,906 $ 36,010