XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash Flows from Operating Activities          
Net income $ 77,199 $ 54,321 $ 150,583 $ 101,173  
Adjustments to reconcile net income to net cash provided by operating activities:          
(Reversal)/provision for credit losses (6,600) 25,000 (18,710) 50,000  
Provision for losses on other real estate owned     47 717  
Deferred tax provision     11,685 (4,896)  
Depreciation and amortization     4,156 3,688  
Amortization of right-of-use asset     4,461 4,249  
Change in operating lease liabilities     710 535  
Net gains on sale and transfer of other real estate owned     0 (4,554)  
Net gains on sale of loans     (357) (85)  
Proceeds from sales of loans     6,345 2,850  
Originations of loans held for sale     (5,988) (2,764)  
Amortization on alternative energy partnerships, venture capital and other investments     22,387 26,728  
Net gain on sales and calls of securities     (853) (1,153)  
Amortization/accretion of security premiums/discounts, net     4,322 3,953  
Loss on sales or disposal of fixed assets     55 45  
Unrealized loss on equity securities 900 (5,800) 3,631 323  
Stock-based compensation and stock issued to officers as compensation     3,302 3,344  
Net change in accrued interest receivable and other assets     (4,966) (10,592)  
Net change in other liabilities     (14,433) (1,330)  
Net cash provided by operating activities     166,377 172,231  
Cash Flows from Investing Activities          
Purchase of investment securities available-for-sale     (244,567) (216,745)  
Proceeds from sale of investment securities available-for-sale     21,102 107,539  
Proceeds from sale of equity securities     0 3,112  
Proceeds from repayments, maturities and calls of investment securities available-for-sale     247,508 427,139  
Purchase of Federal Home Loan Bank stock     0 (840)  
Redemptions of Federal Home Loan Bank stock     0 1,680  
Net increase in loans     (61,195) (536,212)  
Purchase of premises and equipment     (1,787) (3,316)  
Proceeds from sales of other real estate owned     0 2,246  
Net increase in investment in affordable housing and alternative energy partnerships     (10,618) (38,331)  
Net cash used for investing activities     (49,557) (253,728)  
Cash Flows from Financing Activities          
Net increase in deposits     428,291 1,589,416  
Advances from Federal Home Loan Bank     50,000 1,450,000  
Repayment of Federal Home Loan Bank borrowings     (180,000) (1,890,000)  
Cash dividends paid     (49,198) (49,332)  
Proceeds from other borrowings     0 91  
Purchases of treasury stock     (63,529) (12,880)  
Repayment of short-term borrowings     0 (25,683)  
Proceeds from shares issued under Dividend Reinvestment Plan     1,725 1,707  
Taxes paid related to net share settlement of RSUs     (2,594) (1,899)  
Net cash provided by financing activities     184,695 1,061,420  
Decrease in cash, cash equivalents, and restricted cash     301,515 979,923  
Cash, cash equivalents, and restricted cash, beginning of the period     1,421,078 593,778 $ 593,778
Cash, cash equivalents, and restricted cash, end of the period $ 1,722,593 $ 1,573,701 1,722,593 1,573,701 $ 1,421,078
Supplemental disclosure of cash flow information          
Interest     44,669 94,251  
Income taxes paid     36,791 32,104  
Non-cash investing and financing activities:          
Net change in unrealized holding loss on securities available-for-sale, net of tax     (4,639) 10,564  
Net change in unrealized holding loss on cash flow hedge derivatives     $ 1,702 $ (4,513)