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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash Flows from Operating Activities          
Net income $ 72,397 $ 56,794 $ 222,980 $ 157,967  
Adjustments to reconcile net income to net cash provided by operating activities:          
(Reversal)/provision for credit losses 3,000 12,500 (15,710) 62,500  
(Reversal)/Provision for losses on other real estate owned     (8) 717  
Deferred tax (benefit)/ provision     8,867 (10,305)  
Depreciation and amortization     5,942 5,644  
Amortization of right-of-use asset     5,972 6,624  
Change in operating lease liabilities     (1,456) (757)  
Net gains on sale and transfer of other real estate owned     (120) (4,216)  
Net gains on sale of loans     (357) (219)  
Proceeds from sales of loans     5,351 6,406  
Originations of loans held for sale     (4,994) (6,187)  
Amortization on alternative energy partnerships, venture capital and other investments     31,610 42,904  
Net gain on sales and calls of securities     (853) (1,153)  
Amortization/accretion of security premiums/discounts, net     6,128 6,211  
Loss on sales or disposal of fixed assets     55 45  
Unrealized loss on equity securities (3) (1,600) 3,628 1,928  
Stock-based compensation and stock issued to officers as compensation     4,999 4,608  
Net change in accrued interest receivable and other assets     (21,607) (13,000)  
Net change in other liabilities     (12,880) (26,597)  
Net cash provided by operating activities     237,547 233,120  
Cash Flows from Investing Activities          
Purchase of investment securities available-for-sale     (406,750) (272,961)  
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     326,527 543,114  
Purchase of Federal Home Loan Bank stock     0 (840)  
Redemptions of Federal Home Loan Bank stock     0 1,680  
Net increase in loans     (349,924) (496,732)  
Purchase of premises and equipment     (2,828) (4,372)  
Benefits received from bank owned life insurance policies     2,752 0  
Proceeds from sales of other real estate owned     0 4,308  
Net increase in investment in affordable housing and alternative energy partnerships     (19,039) (60,129)  
Net cash used for investing activities     (428,160) (175,281)  
Cash Flows from Financing Activities          
Net increase in deposits     897,713 1,342,019  
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     (73,335) (74,014)  
Repayment of other borrowings     0 (7,663)  
Purchases of treasury stock     (100,668) (12,880)  
Repayment of short-term borrowings     0 (25,683)  
Proceeds from shares issued under Dividend Reinvestment Plan     2,619 2,573  
Taxes paid related to net share settlement of RSUs     (2,632) (1,903)  
Net cash provided by financing activities     593,697 782,449  
Decrease in cash, cash equivalents, and restricted cash     403,084 840,288  
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 $ 1,824,162 $ 1,434,066 1,824,162 1,434,066 $ 1,421,078
Supplemental disclosure of cash flow information          
Interest     61,574 133,151  
Income taxes paid     65,291 35,490  
Non-cash investing and financing activities:          
Net change in unrealized holding (loss)/gain on securities available-for-sale, net of tax     (7,872) 8,068  
Net change in unrealized holding gain/(loss) on cash flow hedge derivatives     2,194 (3,981)  
Transfers to other real estate owned from loans held for investment     $ 205 $ 0