XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash Flows from Operating Activities          
Net income $ 88,978 $ 77,199 $ 164,006 $ 150,583  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision/(reversal) for credit losses 2,500 (9,000) 11,143 (22,558)  
Provision for losses on other real estate owned     0 47  
Deferred tax (benefit)/provision     (1,607) 11,685  
Depreciation and amortization     4,575 4,156  
Amortization of right-of-use asset     5,038 4,461  
Change in operating lease liabilities     (1,976) 710  
Net gains on sale and transfer of other real estate owned     (6) 0  
Net gains on sale of loans     (1) (357)  
Proceeds from sales of loan     33 6,345  
Originations of loans held for sale     0 (5,988)  
Loss on sales or disposal of fixed assets     25 55  
Amortization on alternative energy partnerships, venture capital and other investments     15,522 22,387  
Net gain on sales and calls of securities     (101) (853)  
Amortization/accretion of security premiums/discounts, net     2,231 4,322  
Unrealized (gain)/loss on equity securities 1,000 900 (4,919) 3,631  
Stock-based compensation and stock issued to officers as compensation     4,216 3,302  
Net change in accrued interest receivable and other assets     (37,613) (4,966)  
Net change in other liabilities     18,538 (10,585)  
Net cash provided by operating activities     179,104 166,377  
Cash Flows from Investing Activities          
Purchase of investment securities available-for-sale     (304,445) (244,567)  
Proceeds from repayments, maturities and calls of investment securities available-for-sale     92,789 247,508  
Proceeds from sale of investment securities available-for-sale     553 21,102  
Net increase in loans     (803,082) (61,195)  
Purchase of premises and equipment     (2,229) (1,787)  
Proceeds from sales of other real estate owned     307 0  
Net decrease/(increase) in investment in affordable housing and alternative energy partnerships     1,467 (10,618)  
Acquisition, net of cash acquired     (73,882) 0  
Net cash (used)/provided for investing activities     (1,088,522) (49,557)  
Cash Flows from Financing Activities          
Net (decrease)/increase in deposits     (346,646) 428,291  
Advances from Federal Home Loan Bank     75,000 50,000  
Repayment of Federal Home Loan Bank borrowings     0 (180,000)  
Cash dividends paid     (51,052) (49,198)  
Purchases of treasury stock     (63,484) (63,529)  
Proceeds from shares issued under Dividend Reinvestment Plan     1,873 1,725  
Taxes paid related to net share settlement of RSUs     (2,015) (2,594)  
Net cash (used)/provided by financing activities     (386,324) 184,695  
(Decrease)/Increase in cash, cash equivalents, and restricted cash     (1,295,742) 301,515  
Cash, cash equivalents, and restricted cash, beginning of the period     2,449,704 1,421,078 $ 1,421,078
Cash, cash equivalents, and restricted cash, end of the period $ 1,153,962 $ 1,722,593 1,153,962 1,722,593 $ 2,449,704
Supplemental disclosure of cash flow information          
Interest     26,670 44,669  
Income taxes paid     40,181 36,791  
Non-cash investing and financing activities:          
Net change in unrealized holding loss on securities available-for-sale, net of tax     (72,421) (4,639)  
Net change in unrealized holding gain on cash flow hedge derivatives     4,158 1,702  
Loans transferred from held-for-investment to held-for-sale     $ (32) $ 0