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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income/(loss) $ 16,472 $ 103,405
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities:    
Provision/(provision credit) for loan losses 145,000 9,000
Provision/(benefit) for deferred income taxes (18,600) 7,238
Depreciation and amortization of premises and equipment 10,516 11,400
Amortization of intangible assets 5,308 6,216
Net other amortization and accretion 3,664 1,257
Net (increase)/decrease in derivatives (323,845) (51,821)
Fair value adjustment on interest-only strips 1,295 1,258
(Gains)/losses and write-downs on OREO, net (68) (290)
Stock-based compensation expense 7,281 5,432
Equity securities (gains)/losses, net (25) (31)
Net (gains)/losses on sale/disposal of fixed assets 458 (42)
(Gain)/loss on BOLI 366 (1,032)
Loans held-for-sale:    
Purchases and originations (587,593) (513,788)
Gross proceeds from settlements and sales 180,810 135,855
(Gain)/loss due to fair value adjustments and other (1,129) 19,291
Net (increase)/decrease in:    
Trading securities (133,755) 192,101
Fixed income receivables (140,455) (7,921)
Interest receivable (1,089) (5,970)
Other assets (477,645) 56,985
Net increase/(decrease) in:    
Trading liabilities (52,970) 94,289
Fixed income payables 41,739 90,718
Interest payable (8,882) 16,570
Other liabilities (66,858) (47,631)
Total adjustments (1,416,477) 19,084
Net cash provided/(used) by operating activities (1,400,005) 122,489
Available-for-sale securities:    
Sales 8,703 13,012
Maturities 224,406 157,502
Purchases (213,950) (83,512)
Premises and equipment:    
Sales 2,185 4,080
Purchases (7,603) (6,995)
Proceeds from sales of OREO 3,185 3,791
Proceeds from BOLI 1,610 3,208
Net (increase)/decrease in:    
Loans (2,312,423) (448,321)
Interests retained from securitizations classified as trading securities 64 148
Interest-bearing cash (188,120) 264,357
Net cash provided/(used) by investing activities (2,481,943) (92,730)
Common stock:    
Stock options exercised 4,144 520
Cash dividends paid (44,077) (38,759)
Repurchase of shares [1] (2,064) (53,436)
Cancellation of common shares [2] (1,892) 0
Cash dividends paid - preferred stock - noncontrolling interest (2,883) (2,883)
Cash dividends paid - Series A preferred stock (1,550) (1,550)
Term borrowings:    
Payments/maturities 0 (1,179)
Increases in restricted and secured term borrowings (3,656) 3,120
Net increase/(decrease) in:    
Deposits 1,990,115 (220,104)
Short-term borrowings 1,806,967 92,057
Net cash provided/(used) by financing activities 3,745,104 (222,214)
Net increase/(decrease) in cash and cash equivalents (136,844) (192,455)
Cash and cash equivalents at beginning of period 1,266,893 1,405,325
Cash and cash equivalents at end of period 1,130,049 1,212,870
Supplemental Disclosures    
Total interest paid 83,866 88,774
Total taxes paid 5,240 1,008
Total taxes refunded 2 27,522
Transfer from loans to OREO 1,116 1,607
Transfer from loans HFS to trading securities $ 397,616 $ 425,808
[1] 2019 includes $51.5 million repurchased under share repurchase programs.
[2] Represents shares canceled in connection with the resolution of remaining CBF dissenters' appraisal process.