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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 310,139 $ 423,107
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (benefit) 84,829 (6,138)
Amortization of intangibles 1,590 1,686
Depreciation and amortization of premises and equipment 27,957 27,354
Net accretion of discounts and amortization of premiums and deferred fees 1,568 39,614
Interest capitalized on loans subject to the temporary payment moratorium or loss mitigation alternatives (5,275) (6,210)
Share-based compensation 13,331 13,175
Fair value adjustments on mortgage servicing rights 8,342 (3,275)
Adjustments to indemnity reserves on loans sold (156) 575
Earnings from investments under the equity method, net of dividends or distributions (6,540) (12,616)
Deferred income tax (benefit) expense (1,007) 37,322
(Gain) loss on:    
Disposition of premises and equipment and other productive assets (5,643) (2,970)
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities (202) 1,498
Sale of foreclosed assets, including write-downs (11,674) (18,694)
Acquisitions of loans held-for-sale (6,153) (103,192)
Proceeds from sale of loans held-for-sale 24,808 36,073
Net originations on loans held-for-sale (45,005) (158,691)
Net decrease (increase) in:    
Trading debt securities 17,484 273,265
Equity securities (7,962) 2,257
Accrued income receivable 138 (13,702)
Other assets 17,306 10,157
Net increase (decrease) in:    
Interest payable 16,815 (212)
Pension and other postretirement benefits obligation 7,983 (1,411)
Other liabilities (91,321) (47,640)
Total adjustments 41,213 68,225
Net cash provided by operating activities 351,352 491,332
Cash flows from investing activities:    
Net (increase) decrease in money market investments (2,979,482) 7,850,071
Purchases of investment securities:    
Available-for-sale (7,257,079) (8,819,124)
Held-to-maturity (6,037) (1,588,283)
Equity (15,999) (5,500)
Proceeds from calls, paydowns, maturities and redemptions of investment securities:    
Available-for-sale 8,067,613 5,619,609
Held-to-maturity 204,587 5,491
Proceeds from sale of investment securities:    
Equity 27,442 17,350
Net disbursements on loans (776,383) (893,126)
Proceeds from sale of loans 40,759 43,353
Acquisition of loan portfolios (322,512) (288,589)
Return of capital from equity method investments 249 0
Acquisition of premises and equipment (85,341) (39,695)
Proceeds from sale of:    
Premises and equipment and other productive assets 3,200 1,975
Foreclosed assets 57,226 54,997
Net cash (used in) provided by investing activities (3,041,757) 1,958,529
Net increase (decrease) in:    
Deposits 2,754,305 (1,668,448)
Assets sold under agreements to repurchase (25,405) (20,678)
Other short-term borrowings (365,000) (75,000)
Payment of notes payable (21,000) (101,000)
Principal payments of finance leases (2,645) (1,592)
Proceeds from issuance of notes payable 437,631 0
Proceeds from issuance of common stock 3,117 2,735
Dividends paid (79,816) (78,718)
Net payments for repurchase of common stock (364) (400,704)
Payments related to tax witholding for share-based compensation (3,877) (5,591)
Net cash provided by (used in) financing activities 2,696,946 (2,348,996)
Net increase in cash and due from banks, and restricted cash 6,541 100,865
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 $ 482,700 $ 535,377