XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income before noncontrolling interests $ 1,304,000 $ 1,665,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 279,000 75,000
Changes in fair values of equity warrant assets, net of proceeds from exercises (38,000) (36,000)
Changes in fair values of derivatives, net 345,000 18,000
Losses (Gains) on investment securities, net 199,000 (661,000)
Distributions of earnings from non-marketable and other equity securities 52,000 166,000
Depreciation and amortization 155,000 106,000
Amortization of premiums and discounts on investment securities, net 271,000 294,000
Amortization of share-based compensation 146,000 93,000
Amortization of deferred loan fees (192,000) (193,000)
Deferred income tax (benefit) expense (173,000) 73,000
Excess tax benefit from exercise of stock options and vesting of restricted shares (20,000) (34,000)
Losses from the write-off of premises and equipment and right-of-use assets 0 38,000
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (72,000) (117,000)
Accounts receivable and payable, net (6,000) 5,000
Income tax receivable and payable, net 377,000 (141,000)
Accrued compensation (296,000) 89,000
Other, net (487,000) (298,000)
Net cash provided by operating activities 1,844,000 1,142,000
Cash flows from investing activities:    
Purchases of AFS securities (12,407,000) (5,395,000)
Sales proceeds 8,511,000 168,000
Proceeds from maturities and paydowns of AFS securities 1,174,000 3,892,000
Purchases of HTM securities (4,961,000) (65,048,000)
Proceeds from maturities and paydowns of HTM securities 9,605,000 8,993,000
Purchases of non-marketable and other equity securities (292,000) (310,000)
Proceeds from sales and distributions of capital of non-marketable and other securities 86,000 587,000
Net increase in loans (5,759,000) (9,006,000)
Purchases of premises and equipment (141,000) (77,000)
Cash Acquired from Acquisition 0 1,116,000
Net cash used for investing activities (4,184,000) (65,080,000)
Cash flows from financing activities:    
Net (decrease) increase in deposits (12,384,000) 60,216,000
Net increase in short-term borrowings 13,481,000 13,000
Proceeds from issuance of long-term debt 798,000 990,000
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (19,000) (70,000)
Net proceeds from the issuance of preferred stock 0 1,724,000
Payment of preferred stock dividend (123,000) (40,000)
Proceeds from issuance of common stock, ESPP and ESOP, net of restricted stock awards (31,000) 2,362,000
Net cash provided by financing activities 1,722,000 65,195,000
Net (decrease) increase in cash and cash equivalents (618,000) 1,257,000
Cash and cash equivalents at beginning of period 14,586,000 17,622,000
Cash and cash equivalents at end of period 13,968,000 18,879,000
Cash paid during the period for:    
Interest 412,000 57,000
Income taxes, net of refunds 249,000 547,000
Noncash items during the period:    
Changes in unrealized gains and losses on AFS securities, net of tax (1,994,000) (421,000)
Distributions of stock from investments 1,000 62,000
Transfers from AFS securities to HTM $ 0 $ 8,953,000