XML 18 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash Flow From Operating Activities                  
Net income $ 84,661 $ 86,686 $ 89,192 $ 69,456 $ 171,347 $ 158,648      
Adjustments to reconcile net income to net cash provided by operating activities                  
Provision for credit losses 8,000   4,000   14,000 4,000      
Depreciation and amortization         28,810 24,249      
Addition to (recovery of) valuation allowance on mortgage servicing rights, net         146 (607)      
Amortization of mortgage servicing rights         5,448 4,649      
Amortization of other intangible assets 2,324   2,168   4,551 3,693      
Amortization and accretion on earning assets, funding, and other, net         14,495 423      
Net amortization of tax credit investments         11,180 9,770      
Losses (gains) on sales of investment securities, net         (2,143) 2,015      
Asset (gains) losses, net [1] (871)   (2,497)   (1,438) (2,390)      
(Gain) loss on mortgage banking activities, net         (11,172) 261      
Mortgage loans originated and acquired for sale         (459,181) (516,285)      
Proceeds from sales of mortgage loans held for sale         432,099 482,080      
Pension Contribution         0 (31,371)      
Changes in certain assets and liabilities                  
(Increase) decrease in interest receivable         (11,738) (14,569)      
Increase (decrease) in interest payable         3,572 3,775      
Increase (decrease) in expense payable         (35,516) 20,631      
Increase (decrease) in cash collateral         (38,777) (63,929)      
Increase (decrease) in net derivative position         (61,656) (34,214)      
Net change in other assets and other liabilities         6,444 65,705      
Net cash provided by (used in) operating activities         70,470 116,534      
Cash Flow From Investing Activities                  
Net increase in loans         (244,230) (338,781)      
Purchases of:                  
Available for sale securities         (460,124) (655,949)      
Held to maturity securities         (169,775) (429,964)      
Federal Home Loan Bank and Federal Reserve Bank stocks         (178,363) (238,190)      
Premises, equipment, and software, net of disposals         (30,608) (23,932)      
Proceeds from                  
Sales of available for sale securities         934,228 493,060      
Sale of Federal Home Loan Bank and Federal Reserve Bank stocks         226,139 174,506      
Prepayments, calls, and maturities of available for sale investment securities         262,872 330,517      
Prepayments, calls, and maturities of held to maturity investment securities         100,603 121,612      
Sales, prepayments, calls, and maturities of other assets         7,064 9,640      
Net change in tax credit and alternative investments         (30,814) (18,842)      
Net cash (paid) received in acquisition         551,250 59,472      
Net cash provided by (used in) investing activities         968,242 (516,851)      
Cash Flow From Financing Activities                  
Net increase (decrease) in deposits         (348,344) (810,598)      
Net increase (decrease) in short-term funding         (45,091) (135,757)      
Net increase (decrease) in short-term FHLB advances         (820,000) (260,162)      
Repayment of long-term FHLB advances         (762,880) (400,000)      
Proceeds from long-term FHLB advances         751,573 1,841,965      
Proceeds from issuance of common stock for stock-based compensation plans         7,872 16,147      
Purchase of preferred shares         0 (646)      
Purchase of common stock returned to authorized but unissued         0 (33,075)      
Purchase of treasury stock         (77,900) (5,717)      
Cash dividends on common stock         (55,959) (51,817)      
Cash dividends on preferred stock         (7,601) (4,668)      
Net cash provided by (used in) financing activities         (1,358,331) 155,672      
Net increase (decrease) in cash, cash equivalents, and restricted cash         (319,619) (244,645)      
Cash, cash equivalents, and restricted cash at beginning of period   876,698   716,018 876,698 716,018 $ 716,018    
Cash, cash equivalents, and restricted cash at end of period 557,078   471,373   557,078 471,373 876,698    
Supplemental disclosures of cash flow information                  
Cash paid for interest         178,550 112,392      
Cash paid for (received from) income and franchise taxes         21,909 12,674      
Loans and bank premises transferred to other real estate owned         5,406 21,299      
Capitalized mortgage servicing rights         3,575 4,502      
Loans transferred into held for sale from portfolio, net         30,597 12,709      
Unsettled trades to purchase securities         136 15,339      
Acquisition                  
Fair value of assets acquired, including cash and cash equivalents               $ 696,013 $ 2,569,700
Fair value ascribed to goodwill and intangible assets               29,626 258,885
Fair value of liabilities assumed               725,719 2,828,448
Equity issued in (adjustments related to) acquisition         (79) 137      
Restricted Cash and Cash Equivalents                  
Cash and cash equivalents               403,693 385,957
Restricted cash               153,385 85,416
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 557,078 $ 876,698 $ 471,373 $ 716,018 $ 876,698 $ 716,018 $ 876,698 $ 557,078 $ 471,373
[1] Both the three and six months ended June 30, 2019 include less than $1 million of Huntington related asset losses; Both the three and six months ended June 30, 2018 include approximately $1 million of Bank Mutual acquisition related asset losses net of asset gains.