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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 147.0 $ 53.0
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:    
Depreciation, amortization and accretion 21.0 15.0
Provision for credit losses 14.1 18.0
Deferred tax expense (benefit) 2.0 5.0
Loans originated for sale (215.0) (354.0)
Loans sold 221.0 410.0
Net gain on sale of loans 3.0 (15.0)
Net change in:    
Interest receivable (4.0) 2.0
Interest payable 5.0 (2.0)
Bank owned life insurance, excluding purchases (2.0) (1.0)
Other, net (173.0) 227.0
Net cash flows provided by operating activities 19.0 358.0
Investing Activities    
Net change in loans and leases, excluding sales and transfers (415.0) (74.0)
Debt securities available for sale:    
Purchases 0.0 (398.0)
Sales 0.0 287.0
Maturities/payments 116.0 244.0
Debt securities held to maturity:    
Purchases (75.0) (243.0)
Maturities/payments 90.0 190.0
Increase in premises and equipment (33.0) (27.0)
Net cash received in business acquisition 0.0 75.0
Net cash flows (used in) provided by investing activities (317.0) 54.0
Financing Activities    
Demand (non-interest bearing and interest bearing) and savings accounts (1,717.0) 478.0
Time deposits 1,136.0 (131.0)
Short-term borrowings 776.0 (125.0)
Proceeds from issuance of long-term borrowings 512.0 3.0
Repayment of long-term borrowings (306.0) (206.0)
Repurchases of common stock (12.0) (30.0)
Cash dividends paid:    
Preferred stock (2.0) (2.0)
Common stock (44.0) (43.0)
Other, net 4.0 8.0
Net cash flows provided by (used in) financing activities 347.0 (48.0)
Net Increase in Cash and Cash Equivalents 49.0 364.0
Cash and cash equivalents at beginning of period 1,674.0 3,493.0
Cash and Cash Equivalents at End of Period $ 1,723.0 $ 3,857.0