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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 358,802 $ 285,243
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 40,799 43,975
Stock-based compensation 15,852 12,001
Provision for credit losses 20,934 106,747
Net amortization of premiums and accretion of discounts on securities and borrowings 22,145 26,051
Amortization of other intangible assets 16,753 18,528
(Gains) losses on securities transactions, net (1,263) 127
Proceeds from sales of loans held for sale 932,274 716,739
Gains on sales of loans, net (20,016) (26,253)
Originations of loans held for sale (774,443) (829,252)
Gains on sales of assets, net (380) (716)
Loss on extinguishment of debt 8,406 2,353
Net change in:    
Trading debt securities (4,797) 0
Cash surrender value of bank owned life insurance (6,824) (7,661)
Accrued interest receivable 8,157 (30,421)
Other assets 97,341 (420,572)
Accrued expenses and other liabilities (130,698) 83,591
Net cash provided by (used in) operating activities 583,042 (19,520)
Cash flows from investing activities:    
Net loan originations and purchases (405,204) (2,686,137)
Equity securities:    
Purchases (3,163) (7,616)
Sales 1,227 27,867
Held to maturity debt securities:    
Purchases (1,062,202) (381,606)
Maturities, calls and principal repayments 633,272 532,151
Available for sale debt securities:    
Purchases (367,866) (306,071)
Sales 91,978 0
Maturities, calls and principal repayments 376,875 374,321
Death benefit proceeds from bank owned life insurance 3,850 14,062
Proceeds from sales of real estate property and equipment 4,982 16,136
Proceeds from sales of loans held for investment 4,498 30,020
Purchases of real estate property and equipment (19,805) (20,715)
Net cash used in investing activities (741,558) (2,407,588)
Cash flows from financing activities:    
Net change in deposits 1,697,003 2,002,145
Net change in short-term borrowings (364,612) 337,446
Proceeds from issuance of long-term borrowings, net 295,922 838,388
Repayments of long-term borrowings (1,168,465) (108,446)
Cash dividends paid to preferred shareholders (9,516) (9,516)
Cash dividends paid to common shareholders (134,860) (133,536)
Purchase of common shares to treasury (699) (4,972)
Common stock issued, net 15,199 2,074
Other, net (505) (451)
Net cash provided by financing activities 329,467 2,923,132
Net change in cash and cash equivalents 170,951 496,024
Cash and cash equivalents at beginning of year 1,329,205 434,687
Cash and cash equivalents at end of period 1,500,156 930,711
Supplemental disclosures of cash flow information:    
Interest on deposits and borrowings 109,661 229,987
Federal and state income taxes 148,674 108,302
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 141 3,716
Transfer of loans to loans held for sale 0 30,020
Lease right of use assets obtained in exchange for operating lease liabilities $ 40,296 $ 10,141