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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 330,346 $ 504,350
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 271,318 118,555
Amortization of intangibles 5,345 7,082
Depreciation and amortization of premises and equipment 43,419 42,928
Net accretion of discounts and amortization of premiums and deferred fees (56,134) (126,548)
Share-based compensation 8,308 11,418
Impairment losses on long-lived assets 0 2,591
Fair value adjustments on mortgage servicing rights 33,360 25,853
Adjustments to indemnity reserves on loans sold 1,770 1,664
Earnings from investments under the equity method, net of dividends or distributions (19,160) (18,461)
Deferred income tax (benefit) expense 26,742 110,058
Gain on:    
Disposition of premises and equipment and other productive assets (10,286) (5,133)
Proceeds from insurance claims (366) 0
Sale of debt securities (41) 20
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities (21,370) (11,360)
Sale of foreclosed assets, including write-downs (13,676) (15,858)
Acquisitions of loans held-for-sale (151,916) (157,993)
Proceeds from sale of loans held-for-sale 51,077 51,067
Net originations on loans held-for-sale (243,954) (208,875)
Net decrease (increase) in:    
Trading debt securities 287,764 333,013
Equity securities (5,390) (6,482)
Accrued income receivable (48,457) 7,724
Other assets 75,243 (12,837)
Net (decrease) increase in:    
Interest payable (11,308) (6,900)
Pension and other postretirement benefits obligation 4,225 (4,979)
Other liabilities (65,269) (102,049)
Total adjustments 161,244 34,498
Net cash provided by operating activities 491,590 538,848
Cash flows from investing activities:    
Net increase in money market investments (8,597,704) (1,000,840)
Purchases of investment securities:    
Available-for-sale (15,997,778) (13,579,074)
Equity (28,885) (15,474)
Proceeds from calls, paydowns, maturities and redemptions of investment securities:    
Available-for-sale 14,386,967 10,671,630
Held-to-maturity 5,770 5,325
Proceeds from sale of investment securities:    
Available-for-sale 5,103 99,445
Equity 20,169 17,083
Net disbursements on loans (965,465) (324,479)
Proceeds from sale of loans 64,917 77,327
Acquisition of loan portfolios (994,908) (421,482)
Payments to acquire other intangible (83) (793)
Return of capital from equity method investments 812 2,747
Payments to acquire equity method investments (443) 0
Acquisition of premises and equipment (39,121) (45,961)
Proceeds from insurance claims 366 0
Proceeds from sale of:    
Premises and equipment and other productive assets 20,816 17,186
Foreclosed assets 53,872 83,848
Net cash used in investing activities (12,065,595) (4,413,512)
Net increase (decrease) in:    
Deposits 12,264,323 4,454,466
Assets sold under agreements to repurchase (87,350) (68,433)
Other short-term borrowings 100,000 (41)
Payments of notes payable (127,989) (144,991)
Principal payments of finance leases (1,608) (1,269)
Proceeds from issuance of notes payable 226,807 75,000
Proceeds from issuance of common stock 7,931 6,523
Payments for repurchase of redeemable preferred stock (28,017) 0
Dividends paid (99,600) (85,863)
Net payments for repurchase of common stock (500,325) (250,574)
Payments related to tax witholding for share-based compensation (3,342) (5,432)
Net cash provided by financing activities 11,750,830 3,979,386
Net increase in cash and due from banks, and restricted cash 176,825 104,722
Cash and due from banks and restricted cash at beginning of period 394,323 403,251
Cash and due from banks and restricted cash at end of period $ 571,148 $ 507,973