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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net income $ 350,994 $ 306,771 $ 326,790
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses (88,011) 174,006 16,000
Depreciation and amortization 46,508 50,567 58,149
Addition to (recovery of) valuation allowance on mortgage servicing rights, net (16,186) 17,704 63
Amortization of mortgage servicing rights 19,436 22,664 12,432
Amortization of other intangible assets 8,844 10,192 9,948
Amortization and accretion on earning assets, funding, and other, net 15,088 25,028 23,573
Net amortization of tax credit investments 34,070 25,556 20,062
Losses (gains) on sales of investment securities, net 16 (9,222) (5,957)
Asset (gains) losses, net [1] (11,009) (155,589) (2,713)
(Gains) on sale of branches, net (1,038) (7,449) 0
(Gain) on mortgage banking activities, net (39,106) (59,379) (20,120)
Mortgage loans originated for sale (1,749,556) (1,642,135) (1,090,792)
Proceeds from sales of mortgage loans held for sale 1,774,791 1,959,571 1,317,077
Decrease in interest receivable 9,735 933 7,595
Increase (decrease) in interest payable (10,675) (11,385) 2,495
Increase (decrease) in accrued expenses 24,645 (29,057) 723
Increase (decrease) in derivative position 120,418 (113,760) (102,966)
Increase (decrease) in net income tax position (13,931) (47,268) 43,908
Net change in other assets and other liabilities 54,520 32,270 (42,005)
Net cash provided by operating activities 529,551 550,020 574,260
Cash Flows from Investing Activities      
Net decrease (increase) in loans 198,631 (1,640,524) (137,990)
Purchases of      
AFS securities (2,746,994) (1,648,938) (460,124)
HTM securities (622,485) (125,480) (423,682)
Federal Home Loan Bank and Federal Reserve Bank stocks (10) (84,152) (246,836)
Premises, equipment, and software (52,281) (54,682) (67,459)
Other intangibles 0 (200) 0
Proceeds from      
Proceeds from sales of investment securities 158,743 626,283 1,367,476
Sale of Federal Home Loan Bank and Federal Reserve Bank stocks 0 144,000 270,023
Prepayments, calls, and maturities of AFS investment securities 1,216,657 1,343,056 561,659
Prepayments, calls, and maturities of HTM investment securities 299,761 449,078 260,510
Sales, prepayments, calls and maturities of other assets 29,833 27,964 10,250
Net change in tax credit and alternative investments (68,455) (55,134) (67,632)
Net cash (paid) received in acquisitions 0 (31,518) 551,250
Net cash provided by (used in) investing activities (1,584,186) (793,737) 1,617,446
Cash Flows from Financing Activities      
Net increase (decrease) in deposits 2,015,423 2,497,378 (1,842,748)
Net decrease in deposits due to branch sales (31,083) (222,878) 0
Net increase (decrease) in short-term funding 101,946 (238,655) 308,039
Net (decrease) in short-term FHLB advances 0 (520,000) (380,000)
Repayment of long-term FHLB advances (18,437) (1,040,972) (764,657)
Proceeds from long-term FHLB advances 6,950 4,215 751,573
Redemption of Corporation's senior notes (300,000) 0 (250,000)
Repayment of finance lease principal (965) (1,081) (1)
Proceeds from issuance of preferred stock 0 96,796 0
Proceeds from issuance of common stock for stock-based compensation plans 25,702 3,966 11,216
Redemption of preferred stock (164,458) 0 0
Cash dividends on common stock (116,061) (112,023) (111,804)
Cash dividends on preferred stock (17,111) (18,358) (15,202)
Net cash provided by (used in) financing activities 1,364,102 371,020 (2,479,660)
Net increase (decrease) in cash and cash equivalents 309,467 127,304 (287,954)
Cash and cash equivalents at beginning of period 716,048 588,744 876,698
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 1,025,515 716,048 588,744
Restricted Cash 0 0 189,000
Supplemental disclosures of cash flow information      
Cash paid for interest 81,604 159,291 332,919
Cash paid for income and franchise taxes 57,728 17,734 41,131
Loans and bank premises transferred to OREO 35,553 19,261 10,513
Capitalized mortgage servicing rights 16,151 13,667 11,606
Loans transferred into held for sale from portfolio, net 6,010 264,570 313,570
Transfer of HTM securities to AFS securities (adoption of ASU 2019-04) 0 0 692,414
Unsettled trades to purchase securities 4,459 0 0
Acquisitions      
Fair value of assets acquired, including cash and cash equivalents 0 456,480 695,848
Fair value ascribed to goodwill and intangible assets 0 23,548 29,837
Fair value of liabilities assumed 0 480,028 725,764
Common stock issued in acquisition 0 0 (79)
ABRC [Member]      
Proceeds from      
Net cash received in sale of subsidiary 2,415 256,511 0
Performance/Service Based RSAs, RSA, [Member]      
Cash Flows from Financing Activities      
Payments for Repurchase of Common Stock 4,847 6,113 8,592
Board Authorized Purchase Program [Member]      
Cash Flows from Financing Activities      
Payments for Repurchase of Common Stock $ 132,955 $ 71,255 $ 177,484
[1] The year ended December 31, 2020 includes a gain of $163 million from the sale of ABRC.(b) Includes the deposit premium on the sale of branches net of miscellaneous costs to sell. See Note 2 Acquisitions and Dispositions for additional details on the branch sales.