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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 473,840 $ 390,606 $ 309,793
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 54,934 57,615 53,317
Stock-based compensation 20,887 16,154 14,726
Provision for credit losses 32,633 125,722 24,218
Net amortization of premiums and accretion of discounts on securities and borrowings 30,251 38,315 29,512
Amortization of other intangible assets 21,827 24,645 18,080
(Gains) losses on securities transactions, net (1,758) (524) 150
Proceeds from sales of loans held for sale 1,180,912 1,019,841 509,448
Gains on sales of loans, net (26,669) (42,251) (18,914)
Net impairment losses on securities recognized in earnings 0 0 2,928
Originations of loans held for sale (1,003,818) (1,211,227) (537,985)
(Gains) losses on sales of assets, net (901) 1,891 (78,333)
Loss on extinguishment of debt 8,406 12,036 31,995
Net deferred income tax expense (benefit) 26,827 (5,060) 15,228
Net change in:      
Fair value of borrowings hedged by derivative transactions (3,397) 0 0
Trading debt securities (38,130) 0 0
Cash surrender value of bank owned life insurance (8,817) (10,083) (8,232)
Accrued interest receivable 11,527 (593) 1,440
Other assets 122,241 (311,760) (163,330)
Accrued expenses and other liabilities (63,653) 58,234 57,882
Net cash provided by operating activities 837,142 163,561 261,923
Cash flows from investing activities:      
Net loan originations and purchases (1,036,949) (2,490,937) (2,538,909)
Equity securities:      
Purchases (4,051) (8,337) (14,776)
Sales 2,233 28,439 24,748
Held to maturity debt securities:      
Purchases (1,311,973) (682,509) (701,879)
Maturities, calls and principal repayments 802,167 824,477 424,475
Available for sale debt securities:      
Purchases (387,210) (333,971) (30,392)
Sales 91,978 30,020 271,901
Maturities, calls and principal repayments 462,273 555,589 316,024
Death benefit proceeds from bank owned life insurance 5,128 15,043 9,560
Proceeds from sales of real estate property and equipment 8,935 19,111 109,043
Proceeds from sales of loans held for investments 4,498 30,020 1,234,022
Purchases of real estate property and equipment (39,428) (24,607) (23,375)
Cash and cash equivalents acquired in acquisitions, net 321,618 0 22,239
Net cash used in investing activities (1,080,781) (2,037,662) (897,319)
Cash flows from financing activities:      
Net change in deposits 2,534,826 2,749,765 1,808,148
Net change in short-term borrowings (492,232) 54,678 (1,036,134)
Proceeds from issuance of long-term borrowings, net 295,922 838,388 950,000
Repayments of long-term borrowings (1,168,465) (679,775) (921,995)
Cash dividends paid to preferred shareholders (12,688) (12,688) (12,688)
Cash dividends paid to common shareholders (179,667) (177,965) (146,537)
Purchase of common shares to treasury (23,907) (5,374) (1,805)
Common stock issued, net 11,245 2,202 2,957
Other, net (680) (612) (492)
Net cash provided by financing activities 964,354 2,768,619 641,454
Net change in cash and cash equivalents 720,715 894,518 6,058
Cash and cash equivalents at beginning of year 1,329,205 434,687 428,629
Cash and cash equivalents at end of year 2,049,920 1,329,205 434,687
Supplemental disclosures of cash flow information:      
Interest on deposits and borrowings 138,364 279,042 415,649
Federal and state income taxes 163,370 148,383 106,336
Supplemental schedule of non-cash investing activities:      
Transfer of loans to other real estate owned 141 4,040 5,100
Loans transferred to loans held for sale 0 30,020 1,234,022
Lease right of use assets obtained in exchange for operating lease liabilities 48,453 16,062 312,143
Non-cash assets acquired:      
Equity securities 0 0 51,382
Loans, net 908,023 0 3,378,358
Premises and equipment 1,356 0 23,585
Lease right of use assets 6,745 0 0
Bank owned life insurance 28,756 0 101,896
Accrued interest receivable 2,179 0 11,781
Goodwill 76,566 0 297,777
Other intangible assets 10,277 0 20,690
Other assets 23,093 0 50,873
Total non-cash assets acquired 1,066,192 0 4,277,113
Liabilities assumed:      
Deposits 1,161,984 0 2,924,716
Short-term borrowings 0 0 10,500
Long-term borrowings 0 0 430,130
Accrued expenses and other liabilities 14,692 0 98,751
Total liabilities assumed 1,176,676 0 3,464,097
Net (liabilities assumed) non-cash assets acquired (110,484) 0 813,016
Cash and cash equivalents acquired in acquisitions, net 321,618 0 22,239
Common stock issued in acquisition 211,134 0 835,255
Available-for-sale securities      
Non-cash assets acquired:      
Investment securities 0 0 335,894
Held-to-maturity securities      
Non-cash assets acquired:      
Investment securities $ 9,197 $ 0 $ 4,877