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onsolidated 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 $ 298,304 $ 228,860 $ 279,135
Adjustments to reconcile net income to net cash provided by operating activities:      
(Reversal)/provision for credit losses (16,008) 57,500 (7,000)
Provision for losses on other real estate owned 17 717 681
Deferred tax (benefit)/ provision 9,168 (9,486) 9,825
Depreciation and amortization 7,956 7,660 6,756
Amortization of right-of-use asset 8,160 8,852 8,366
Change in operating lease liabilities (2,790) (2,389) (7,157)
Net gains on sale and transfers of other real estate owned (57) (4,216) (212)
Net gains on sale of loans (357) (413) (804)
Proceeds from sale of loans 5,351 11,098 75,257
Originations of loans held for sale (4,994) (10,685) (2,241)
Loss on sales or disposal of fixed assets 55 45 14
Amortization of alternative energy partnerships, venture capital and other investments 45,447 58,131 39,898
Net gain on sales and calls of securities (853) (1,695) (211)
Amortization/accretion of security premiums/discount, net 7,865 8,617 3,834
Unrealized loss/(gain) on equity securities 2,036 1,148 (5,736)
Stock-based compensation and stock issued to officers as compensation 6,810 6,406 7,350
Net change in accrued interest receivable and other assets (34,196) (21,247) 6,163
Net change in other liabilities 2,403 (18,948) 21,061
Net cash provided by operating activities 334,317 319,955 434,979
Cash Flows from Investing Activities      
Purchase of investment securities available-for-sale (560,140) (434,165) (770,206)
Proceeds from repayment, maturity, and call of investment securities available-for-sale 424,386 734,485 296,721
Proceeds from sale of investment securities available-for-sale 21,102 117,249 293,849
Proceeds from sale of equity securities 0 3,112 2,829
Purchase of Federal Home Loan Bank stock 0 (840) (1,815)
Redemption of Federal Home Loan Bank stock 0 1,680 975
Net increase in loans (715,862) (583,136) (1,147,019)
Purchase of premises and equipment (3,728) (5,778) (7,133)
Benefits received on bank owned life insurance 2,752 0 0
Proceeds from sales of other real estate owned 795 4,308 2,822
Net increase in investment in affordable housing and alternative energy partnerships (29,229) (79,119) (52,697)
Net cash used for investing activities (859,924) (242,204) (1,381,674)
Cash Flows from Financing Activities      
Net increase in deposits 1,949,728 1,417,310 989,942
Advances from Federal Home Loan Bank 50,000 1,450,000 4,355,000
Repayment of Federal Home Loan Bank borrowings (180,000) (1,970,000) (4,215,000)
Cash dividends paid (99,322) (98,688) (99,131)
Purchase of treasury stock (167,104) (23,593) (36,301)
Proceeds from issuance of short-term borrowings 0 0 25,683
Repayment of short-term borrowings 0 (25,683) 0
Repayment of other borrowings 0 (7,663) (81,065)
Proceeds from shares issued under Dividend Reinvestment Plan 3,563 9,777 3,366
Taxes paid related to net share settlement of RSUs (2,632) (1,911) (2,311)
Net cash provided by financing activities 1,554,233 749,549 940,183
Increase/(Decrease) in cash, cash equivalents, and restricted cash 1,028,626 827,300 (6,512)
Cash, cash equivalents, and restricted cash, beginning of the year 1,421,078 593,778 600,290
Cash, cash equivalents, and restricted cash, end of the period 2,449,704 1,421,078 593,778
Supplemental Cash Flow Information      
Interest 75,486 162,434 182,527
Income taxes 92,691 45,371 61,548
Non-cash investing and financing activities:      
Net change in unrealized holding (loss)/gain on securities available-for-sale, net of tax (11,989) 6,486 23,479
Net change in unrealized holding gain/(loss) on cash flow hedge derivatives 3,614 (3,478) (3,171)
Transfers to other real estate owned from loans held for investment 205 0 860
Loans transferred to loans held for sale $ 0 $ 0 $ 75,285