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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income (Loss) $ 348,715 $ 336,752 $ 420,300
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income tax expense 12,895 14,383 40,805
(Accretion) amortization of investment (discounts) premiums, net (67,702) 6,601 14,404
Gain on sales of investment securities, net (13) (2) (8)
Provision (recapture) for credit losses 213,199 84,016 (42,651)
Change in cash surrender value of bank owned life insurance (15,962) (8,353) (8,402)
Depreciation, amortization, and accretion 144,252 28,305 31,498
Gain on sale of premises and equipment (31,472) (2,747) (574)
Additions to residential mortgage servicing rights carried at fair value (5,347) (24,137) (38,522)
Change in fair value residential mortgage servicing rights carried at fair value 23,816 (37,265) 7,814
Stock-based compensation 18,073 9,753 10,906
Net (increase) decrease in equity and other investments (448) 1,156 352
(Gain) loss on equity securities, net (2,300) 7,099 1,511
(Gain) loss on sale of loans and leases, net (10,200) 1,953 (145,723)
Change in fair value of loans held for sale 341 10,670 21,427
Origination of loans held for sale (441,568) (1,839,466) (4,747,104)
Proceeds from sales of loans held for sale 602,634 2,076,548 4,952,918
Change in other assets and liabilities:      
Net (increase) decrease in other assets (24,163) 169,540 153,148
Net (decrease) increase in other liabilities (94,910) 230,223 (9,376)
Net cash provided by operating activities 669,840 1,065,029 662,723
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of investment securities available for sale (926,216) (276,812) (1,838,923)
Proceeds from investment securities available for sale 1,694,850 396,100 761,249
Purchases of restricted equity securities (290,817) (180,543) (53)
Redemption of restricted equity securities 260,697 144,315 30,803
Net change in loans and leases (1,335,189) (3,744,493) (735,422)
Proceeds from sales of loans and leases 748,264 148,978 246,667
Proceeds from Sale of Property, Plant, and Equipment 40,688    
Change in premises and equipment   (27,086) (15,478)
Purchases of bank owned life insurance (28,243) 0 0
Proceeds from bank owned life insurance death benefits 4,799 4,339 4,127
Proceeds from sale of mortgage servicing rights (57,305) 0 0
Net cash received from sale of Umpqua Investments, Inc. 0 0 10,781
Payments for (Proceeds from) Businesses and Interest in Affiliates (274,587) 0 0
Other 1,011 2,110 1,974
Net cash provided (used) in investing activities 501,736 (3,533,092) (1,534,275)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net (decrease) increase in deposit liabilities (651,130) 470,945 1,972,519
Net (decrease) increase in securities sold under agreements to repurchase (126,675) (183,478) 116,863
Increase (Decrease) in Federal Funds Purchased 14,000 0 0
Proceeds from borrowings 17,350,000 1,650,000 0
Repayment of borrowings (16,586,522) (750,000) (765,000)
Net proceeds from issuance of common stock 1,185 54 34
Dividends paid on common stock (270,261) (182,273) (183,734)
Repurchase and retirement of common stock (6,282) (4,163) (80,690)
Net cash (used) provided by financing activities (303,685) 1,001,085 1,059,992
Net increase (decrease) in cash and cash equivalents 867,891 (1,466,978) 188,440
Cash and cash equivalents, beginning of period 1,294,643 2,761,621 2,573,181
Cash and cash equivalents, end of period 2,162,534 1,294,643 2,761,621
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Interest 692,991 71,209 42,820
Income taxes 138,910 71,804 105,119
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Change in unrealized gains and losses on investment securities available for sale, net of taxes 80,800 (407,199) (92,834)
Change in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes 5,821 (21,424) (28,152)
Transfer of loans to loans held for sale 118,085 0 0
Transfer of Loans Held-for-sale to Portfolio Loans 5,754 25,057 315,887
Umpqua Bank and Columbia Banking System Merger      
Asset Acquisition [Line Items]      
Assets acquired 19,230,586 0 0
Liabilities assumed 17,920,542 0 0
Net assets acquired $ 1,310,044 $ 0 $ 0