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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 158,979 $ 211,686
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (benefit) 47,637 (15,500)
Amortization of intangibles 795 891
Depreciation and amortization of premises and equipment 13,842 13,630
Net accretion of discounts and amortization of premiums and deferred fees (2,276) 15,843
Interest capitalized on loans subject to the temporary payment moratorium or loss mitigation alternatives (2,876) (3,416)
Share-based compensation 7,873 8,276
Fair value adjustments on mortgage servicing rights 1,376 (1,017)
Adjustments to indemnity reserves on loans sold (612) 745
Earnings from investments under the equity method, net of dividends or distributions (8,621) (15,099)
Deferred income tax (benefit) expense (2,064) 22,129
(Gain) loss on:    
Disposition of premises and equipment and other productive assets (2,423) (2,363)
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities (264) 1,534
Sale of foreclosed assets, including write-downs (5,228) (7,566)
Acquisitions of loans held-for-sale (2,861) (55,134)
Proceeds from sale of loans held-for-sale 9,148 19,739
Net originations on loans held-for-sale (21,790) (98,356)
Net (increase) decrease in:    
Trading debt securities (1,055) 136,941
Equity securities (3,731) (111)
Accrued income receivable 314 (1,379)
Other assets 25,072 4,068
Net (decrease) increase in:    
Interest payable (2,846) (7,106)
Pension and other postretirement benefits obligation 4,038 (196)
Other liabilities (59,381) (31,053)
Total adjustments (5,933) (14,500)
Net cash provided by operating activities 153,046 197,186
Cash flows from investing activities:    
Net (increase) decrease in money market investments (483,178) 7,467,248
Purchases of investment securities:    
Available-for-sale (3,960,443) (5,747,659)
Equity (11,927) (845)
Proceeds from calls, paydowns, maturities and redemptions of investment securities:    
Available-for-sale 4,909,334 3,109,090
Held-to-maturity 3,818 4,114
Proceeds from sale of investment securities:    
Equity 25,595 4,585
Net disbursements on loans (155,538) (236,365)
Proceeds from sale of loans 3,276 752
Acquisition of loan portfolios (145,735) (119,479)
Return of capital from equity method investments 249 0
Acquisition of premises and equipment (36,062) (15,205)
Proceeds from sale of:    
Premises and equipment and other productive assets 1,972 578
Foreclosed assets 21,417 23,631
Net cash provided by investing activities 172,778 4,490,445
Net decrease in:    
Deposits (293,780) (4,141,068)
Assets sold under agreements to repurchase (25,110) (18,784)
Other short-term borrowings (365,000) (75,000)
Payment of notes payable (1,000) (1,000)
Principal payments of finance leases (804) (833)
Proceeds from issuance of notes payable 394,178 0
Proceeds from issuance of common stock 1,567 1,199
Dividends paid (39,878) (36,289)
Net payments for repurchase of common stock (282) (400,604)
Payments related to tax witholding for share-based compensation (2,688) (4,316)
Net cash used in financing activities (332,797) (4,676,695)
Net (decrease) increase in cash and due from banks, and restricted cash (6,973) 10,936
Cash and due from banks and restricted cash at beginning of period 476,159 434,512
Cash and due from banks and restricted cash at end of period $ 469,186 $ 445,448