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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income $ 300,104 $ 210,955
Adjustments to reconcile net income to cash provided by operating activities:    
Provision (credit) for loan and lease losses (30,577) 48,907
Deferred tax expense (benefit) 13,441 17,774
Net change in current taxes (805,084) 12,122
Depreciation and amortization 54,053 53,806
Net (decrease) increase in accrued interest payable (603) (4,012)
Net decrease (increase) in income earned not collected 12,651 (51,784)
Contribution to pension plans 0 (100,000)
Realized gains on investment securities available for sale, net (25,037) (33,547)
Marketable equity securities gains, net (27,665) (13,162)
Origination of loans held for sale (631,104) (503,190)
Proceeds from Sale of Loans Held-for-sale 562,399 474,153
Gain on sale of loans (19,766) (15,578)
Net (gains) losses on other real estate owned (2,009) 2,475
Net accretion of premiums and discounts 1,490 20,889
Amortization of intangible assets 11,220 12,464
Origination of mortgage servicing rights, net of change in valuation allowance (7,884) 357
Net change in other assets 19,040 (17,459)
Net change in other liabilities (22,724) (14,380)
Net cash provided by operating activities (598,055) 100,790
INVESTING ACTIVITIES    
Net increase in loans outstanding 136,009 (3,488,854)
Purchases of investment securities available for sale (2,956,016) (5,659,704)
Purchases of investment securities held to maturity (1,012,009) (803,307)
Purchases of marketable equity securities (306) (331,952)
Proceeds from maturities/calls of investment securities held to maturity 413,600 57,057
Proceeds from maturities/calls of investment securities available for sale 1,570,492 1,139,291
Proceeds from sales of investment securities available for sale 1,078,187 3,122,454
Proceeds from sales of marketable equity securities 1,111 313,131
Net increase in overnight investments (3,524,046) (1,964,602)
Cash paid to FDIC for settlement of shared-loss agreement (16,103) (99,468)
Proceeds from sales of other real estate 20,554 9,263
Proceeds from sales of premises and equipment 1,176 37
Purchases of premises and equipment (51,282) (62,721)
Business acquisitions, net of cash acquired 0 (59,999)
Other investing activities (14,053) 0
Net cash used in investing activities (4,352,686) (7,829,374)
FINANCING ACTIVITIES    
Net decrease in time deposits (266,759) (623,833)
Net increase in demand and other interest-bearing deposits 5,246,758 7,649,120
Net decrease in short-term borrowings 51,117 2,043
Repayments of Other Long-term Debt (23,947) (75,908)
Origination of long-term obligations 0 745,850
Net proceeds from preferred stock issuance 0 339,937
Repurchase of common stock 0 (282,923)
Cash dividends paid (23,112) (13,188)
Net cash (used in) provided by financing activities 4,984,057 7,741,098
Change in cash and due from banks 33,316 12,514
Cash and due from banks at beginning of period 362,048 376,719
Cash and due from banks at end of period 395,364 389,233
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Interest 31,706 61,061
Income taxes 867,196 38,453
Transfers of loans to other real estate 4,791 7,138
Dividends declared but not paid 0 4,007
Loans held for sale exchanged for investment securities 125,804 0
Reclassification of portfolio loans to loans held for sale 22,655 3,027
Transfers of premises and equipment to other real estate 6,549 2,046
Unsettled common stock repurchases $ 0 $ 3,772