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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 423,107 $ 480,711
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (benefit) (6,138) (99,241)
Amortization of intangibles 1,686 2,306
Depreciation and amortization of premises and equipment 27,354 28,408
Net accretion of discounts and amortization of premiums and deferred fees 39,614 (17,234)
Interest capitalized on loans subject to the temporary payment moratorium or loss mitigation alternatives (6,210) (8,330)
Share-based compensation 13,175 14,609
Impairment losses on right-of-use and long-lived assets 0 303
Fair value adjustments on mortgage servicing rights (3,275) 5,727
Adjustments to indemnity reserves on loans sold 575 (970)
Earnings from investments under the equity method, net of dividends or distributions (12,616) (21,689)
Deferred income tax expense 37,322 125,228
(Loss) gain on:    
Disposition of premises and equipment and other productive assets (2,970) (8,674)
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities 1,498 (10,106)
Sale of foreclosed assets, including write-downs (18,694) (16,126)
Acquisitions of loans held-for-sale (103,192) (122,806)
Proceeds from sale of loans held-for-sale 36,073 54,262
Net originations on loans held-for-sale (158,691) (284,298)
Net decrease (increase) in:    
Trading debt securities 273,265 369,194
Equity securities 2,257 (5,191)
Accrued income receivable (13,702) 5,818
Other assets 10,157 (7,729)
Net (decrease) increase in:    
Interest payable (212) (3,878)
Pension and other postretirement benefits obligation (1,411) (1,954)
Other liabilities (47,640) 930
Total adjustments 68,225 (1,441)
Net cash provided by operating activities 491,332 479,270
Cash flows from investing activities:    
Net decrease (increase) in money market investments 7,850,071 (6,161,953)
Purchases of investment securities:    
Available-for-sale (8,819,124) (7,568,621)
Held-to-maturity (1,588,283) 0
Equity (5,500) (10,590)
Proceeds from calls, paydowns, maturities and redemptions of investment securities:    
Available-for-sale 5,619,609 5,672,695
Held-to-maturity 5,491 4,999
Proceeds from sale of investment securities:    
Equity 17,350 2,500
Net (disbursements) repayments on loans (893,126) 422,509
Proceeds from sale of loans 43,353 51,032
Acquisition of loan portfolios (288,589) (150,116)
Payments to acquire other intangible 0 (1,185)
Return of capital from equity method investments 0 2,438
Acquisition of premises and equipment (39,695) (36,481)
Proceeds from sale of:    
Premises and equipment and other productive assets 1,975 8,185
Foreclosed assets 54,997 49,271
Net cash provided by (used in) investing activities 1,958,529 (7,715,317)
Net (decrease) increase in:    
Deposits (1,668,448) 7,778,119
Assets sold under agreements to repurchase (20,678) (30,377)
Other short-term borrowings (75,000) 0
Payment of notes payable (101,000) (49,009)
Principal payments of finance leases (1,592) (1,692)
Proceeds from issuance of common stock 2,735 2,226
Dividends paid (78,718) (68,161)
Net payments for repurchase of common stock (400,704) (350,409)
Payments related to tax witholding for share-based compensation (5,591) (4,898)
Net cash (used in) provided by financing activities (2,348,996) 7,275,799
Net increase in cash and due from banks, and restricted cash 100,865 39,752
Cash and due from banks and restricted cash at beginning of period 434,512 497,094
Cash and due from banks and restricted cash at end of period $ 535,377 $ 536,846